What goes up must come down — including crypto. Last month the $40bn collapse of cryptocurrency luna sent shockwaves through the market, ether shed more than a third of its value and bitcoin, the oldest token on the market, fell below $20k for the first time since 2020.
Of course, volatility isn’t new in the world of crypto finance, but this dramatic crash caused many to question: is it over for crypto?
Zak Lambert, product lead at fintech Plaid, doesn’t think so. “I certainly don’t think it’s over,” he tells Sifted. “It’s a matter of perspective: if it’s a five-year window, it’s a great growth story, if it’s a six-month window, it’s a crash, so the framing matters a lot.”
It also matters to the many crypto owners. According to a Sifted report, the number of global crypto owners almost tripled in 2021.
So what’s really next for crypto? We asked the experts.
“Investment will continue”
For Lambert, it’s first important to remember that not all crypto coins are created equal.