Why Is This Crypto Winter Different From Past Ones?

The crypto traders and investors have been seeing crypto winter and majority of them are seeing it for the first time, but this one is different from the past ones… Why? 

Because of the web3 ecosystem where Buidlers have been developing the next version of the internet which’s more distributed and democratic in nature. Meanwhile crypto funds’ availability is hitting the ceiling. Global crypto funds saw unprecedented net inflows of $9.3 billion in the last year, a 36% jump over 2020 led by mainstream adoption.

For example, Andreessen Horowitz raises $4.5 billion and now its total crypto funds stands at $7.6 billion. Interestingly, a big chunk of this fund will be used for seed investments i.e. $1.5 billion. On top of that, rising NFT (Non-Fungible Token) and Metaverse communities have been working as one of the major adoption catalysts for the crypto industry.

Web 3.0 is inevitable, it’s coming to takeover existing Web2 firms and many of them have started investing directly or indirectly in the decentralised ecosystem. Facebook has recently changed its corporate name to “Meta” and launched NFT integration through its Instagram platform. the company has entered into a partnership with Polygon Technology (Formerly known as Matic Network). In the same line, other Web2 companies have been leveraging the blockchain ecosystem to raise crypto funds.

Here are a few big adoption developments:

https://cointelegraph.com/news/gamestop-unveils-beta-cryptocurrency-wallet-and-upcoming-nft-platform
https://cryptopotato.com/a16z-raises-4-5-billion-to-invest-in-crypto-amid-broader-market-correction//
https://www.coindesk.com/policy/2022/05/23/at-davos-crypto-is-no-longer-on-the-outside/
https://www.coindesk.com/policy/2022/05/26/portuguese-congress-rejects-two-bills-seeking-to-tax-crypto/
https://cointelegraph.com/news/in-the-economy-3-0-metaverses-will-create-jobs-for-millions