In an interview on CoinDesk’s First Mover TV program, head economist of decentralized protocols at software program firm ConsenSys, mentioned that cryptocurrencies reply to exterior occasions just like different riskier belongings. “The story concerning the macroeconomic setting is, if it permits shoppers to have a bigger finances – and definitely the COVID setting was that – they’re extra more likely to take dangers, they’re extra doubtless to make use of Web3 and check out new protocols,” he mentioned. “And in the event that they’re compressed, and they are much extra apprehensive about paying down their mortgages or their rents, they will have much less discretionary finances. And in order that’s going to be damaging for crypto costs within the quick time period.”
