Crypto Market Close to the End of the Crisis, Says Pantera Capital CEO
Pantera Capital CEO, Dan Morehead, is optimistic about the future of the digital asset market, stating that the market crisis is coming to an end. In a recent interview, Morehead emphasized that the liquidation of debtors' assets would cause the crypto market to fall further before it starts to grow again.
"I think we are really close to the end of the market crisis. Thanks to leverage, especially with smart contracts in DeFi, everything sells out pretty quickly. The market has been falling for eight months now. We observed the most severe manifestations of the crisis in November, May and June. There are companies that are in the process of liquidation in bankruptcy court. We seem to have seen everything we should have,"Dan Morehead said.
Enter your text here ...
"There are many skeptics regarding blockchain, and many of them promote the view that DeFi has failed. In reality, this is not so. Of course, there are some failures in the blockchain ecosystem, but almost all of them are related to centralized counterparty lending. Which, as you know, are actually banks. Some of these organizations took short-term deposits and acted like banks. Basically, it's the centralized lending companies that have failed, and almost all DeFi protocols have performed very well,"noted Morehead
The End of the Market Crisis
In conclusion, Morehead believes that the crypto market is nearing the end of the crisis, and the liquidation of debtors' assets will accelerate the market's fall, leading to its eventual growth. Morehead emphasizes that DeFi protocols have outperformed centralized lending companies, and almost all DeFi protocols have performed very well, even during market peaks. Although there are differing opinions on the future of the crypto market, Morehead remains optimistic about its growth prospects.