The founder of the Morgan Creek Digital, Jason A. Williams presents us with some disturbing facts for both ethereum and coinbase. The recent crash of devaluation has seen bitcoin diving to the lowest possible and other cryptos bearing the same trend. The recent crash has been too tough for the cryptos and the crypto related ventures that they have been thrown back to the structures and revenues they were making when they just surfaced. For these to re-surface it will take much more than what it took them to get staged to their soaring success. Ethereum dropped to $13 over Coinbase for a short interval of time as Williams explain which induced the alarming aura over which Coinbase issued refunds to the losing side i.e the investors. This rose ethereum to about $91. Williams recall the time when he joined the crypto cause and the crypto was about $55 at the time. This is all directing to the time when cryptos just sprung out of the shell. BlockPublisher dug out some comments from Williams himself over the recent devaluation crisis.
Etheruem went down to $13 over Coinbase Pro which issued refunds to the losing investors. Ethereum rose back to $91 and by the looks of it, it seems that the crypto world went back to when I came knocking.
With much on the stakes for the cryptos and much to accomplish, there is no chance that cryptos are allowed a loss this tragic that it literally rolls the digital assets back to when these started off. Bearing such a tough loos is a direct blow to the future goals the crypto including the likes of major crypto adoption which can surely be kicked off from the check list as the basic structures have been rattled so hard it is hard to maintain a calmer environment even if the mass adoption is pulled off.
Williams state that this is rather strange as the cryptos have never seen a devaluation on such a grand scale. The previous devaluation were much simpler and for a short period and most importantly, predictable. Unpredictability can damage fatally as we cannot work out a solution quickly and have to devise a solution instead. This takes exceedingly long during which major resources can flush out leaving a mere skeleton which to return to is worth nothing.