Will the crypto crash derail the next web revolution?
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Since January, the collapse in cryptocurrency prices has wiped 80 per cent off the value of the atom tokens that underpin Cosmos, slicing $10bn from their total worth. The fall in prices doesn’t mean crypto projects will not get “traction in the long term”, says Joseph Lau, co-founder of Alchemy. But if Lau and Buchman are wrong, the crypto revolution could be stopped in its tracks. The total value of all cryptocurrencies peaked in November last year before falling around 70 per cent, cutting $2tn from their value. In the eight months after dotcom stocks peaked in early 2000, publicly traded internet companies are estimated to have lost $1.7tn, or 60 per cent of their value Source