Smart contract project, one of Ethereum’s biggest competitors Tezos (XTZ) Co-founder Kathleen Breitman shared her thoughts on the general state of the crypto market.
Breitman believes the bear market will get worse despite the slight stir in the crypto markets in recent days.
“During the pandemic process, states printed a lot of money and distributed it to citizens. People bought stocks and cryptocurrencies with the surplus money they had left. Easy money created a bubble.”
Tezos founder answered the question of when the bull market will start. “I don’t expect the bull market to start for a long time” he replied.
“See OpenSea Status”
Kathleen Breitman cryptocurrency He cited NFT marketplace OpenSea as an example of the bubble he believes is forming in the markets. The biggest NFT The marketplace’s trade volume was around $3 billion in September 2021, and currently has a monthly circulation of $350 million.
“The NFT phenomenon has grown quite strong at the end of the previous year. At present, this current has almost disappeared. Despite the declining trade volume, a valuation of $13 billion is being made for the OpenSea platform.”
The Tezos founder finally touched on crypto projects. According to Breitman, most projects on the market don’t really work. CEO says crypto projects only “a small minority” stated that it will be permanent, while others will be deleted from the market.
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