The cryptocurrency industry is going through a critical period. Price drops, global inflation and regulatory pressure. With the combination of all these bad actors, crypto-focused companies as well as investors have been badly injured. As many exchanges and companies shrink, most crypto startups will not survive, according to Metaco’s CEO.
Metaco CEO: 30 Percent of Crypto Companies Will Disappear After Crypto Crash
Adrien Treccani, CEO of Switzerland-based cryptocurrency company Metaco, stated in his speech a short time ago that the latest correction in the digital asset markets will likely wipe out some of the start-ups in the country.
Speaking to Swiss Info on July 13, Treccani stated that the market crash will have disastrous consequences for businesses in the industry, noting that the crypto startup scene will most likely turn into a new phase within six months:
“The market crash will be disastrous for many Swiss start-ups. I estimate that about 20 percent to 30 percent of them will die. They will disappear in the next six months.”
On the other hand, Treccani argued that the deletion would benefit the industry, as it would eliminate weaker players. The last current market move, according to the executive, is a bubble burst that will potentially lead to new opportunities.
“This bursting bubble will filter out the noise and simplify the market. Normally, after a major crash, new opportunities arise.”
However, it should be noted that despite the market movement affecting crypto business prospects, most start-ups remain resilient within the country.
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