In an interview on CoinDesk’s First Mover TV program, head economist of decentralized protocols at software company ConsenSys, said that cryptocurrencies respond to external events similar to other riskier assets. “The story about the macroeconomic environment is, if it allows consumers to have a larger budget – and certainly the COVID environment was that – they’re more likely to take risks, they’re more likely to use Web3 and try new protocols,” he said. “And if they’re compressed, and they’re much more worried about paying down their mortgages or their rents, they’re going to have less discretionary budget. And so that’s going to be damaging for crypto prices in the short term.”
- Bitcoin
- blockchain
- blockchain compliance
- blockchain conference
- coinbase
- Coindesk
- coingenius
- Consensus
- crypto conference
- crypto mining
- cryptocurrency
- decentralized
- DeFi
- Digital Assets
- machine learning
- Markets
- non fungible token
- plato
- plato ai
- Plato Data Intelligence
- Platoblockchain
- PlatoData
- platogaming
- Polygon
- proof of stake
- W3
- zephyrnet
More from Alontrus Group & CoinDesk
Coinbase Knew It May Have Been Violating the Law Prior to the SEC’s Lawsuit, Regulator Claims
Source Node: 2162916
Time Stamp: Jul 7, 2023
No, Sam Bankman-Fried Is Not Being Bailed Out by Democrats
Source Node: 2190980
Time Stamp: Jul 28, 2023
Decentralization Is the Point, and We’re Not Talking Enough About Why
Source Node: 2061476
Time Stamp: Apr 17, 2023
FTX Exploiter Swaps Thousands of Stolen BNB Crypto Tokens Into Ether, BUSD
Source Node: 1757001
Time Stamp: Nov 17, 2022
Tornado Cash Indictments May Prove to Be Just a Localized Storm After All
Source Node: 2242719
Time Stamp: Aug 29, 2023
The Psychology of Failure and Its Meaning for Web3 Games
Source Node: 2199461
Time Stamp: Aug 4, 2023
California Assembly Passes Crypto Regulation Bill That Requires Bank-Issued Stablecoins
Source Node: 1647031
Time Stamp: Aug 31, 2022
‘Mutant Ape Planet’ NFT Developer Pleaded Guilty in $3M Fraud
Source Node: 2382429
Time Stamp: Nov 14, 2023