Framework Ventures Co-founder: The position of cryptocurrency is much better than imagined

ChainCatcher message, co-founder of the crypto venture capital firm Framework Ventures, Vance Spencer, stated on Twitter that the situation for cryptocurrencies is much better than anyone imagines. Although market sentiment remains tense, the financial system is gradually being replaced by decentralized applications.

Specifically, there are 280 days until the BTC halving, and a spot Bitcoin ETF is expected to launch by the end of this year or even earlier, which will bring more ETF opportunities for other crypto assets; Ethereum has successfully transitioned to PoS and has been in a deflationary state throughout the year; three DeFi applications are expected to reach an ARR (Annual Recurring Revenue) of $100 million this year (in a bear market), with 1-2 of them likely to reach $1 billion in a bull market; crypto games are still on track for releases in Q4/Q1; regulatory clarity also seems to be on the horizon, with stablecoins and market structure scheduled for voting this summer.

In addition, cryptocurrencies have withstood the Federal Reserve's 525 basis point rate hikes and are on the other side of one of the most severe deleveraging phases in financial history. The market expects the Federal Reserve to raise rates again, with a certainty of 95%, after which the Fed will take action. The Fed's dot plot suggests that the headwinds of interest rates in 2024 and 2025 will turn into tailwinds. The trajectory of 2019 is remarkably similar to that of 2023. (source link)