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'Crypto Hype is gone' - claims Reddit co-founder

Pooja
Pooja

In an recent interview with Yahoo Finance, the Reddit co-founder made bold statement that the much discussed hype around cryptocurrency is all gone now but that’s a good sign for overall industry.

Alexis Ohanian aka the co-founder of social media platform Reddit expressed his views about the current situation of cryptocurrency.

The hype is gone. The fervor is gone. But I think that’s a good thing.

In the past few years the crypto market witnessed lot of ups and downs and its natural. But the bearish crypto markets only the “true believers” had stayed on. Indeed this is good new as these are people who are now developing the infrastructure of technology in its infancy stage.

Further adding to his optimistic views he mentioned that – ” And they’re actually builders. They’re actually building the infrastructure that it’s going to take to really make this happen, “

Also, very recently, we saw JP Morgan announcing its work on crypto product. Despite lot of skepticism towards cryptocurrency, the CEO Jamie Dimon has shown interest in this nascent technology.

Not just that, many institutions are forthcoming to explore in this tech and in this regard he quoted that -“there is real innovation that is happening now that all the wild speculation is gone. “

On that note, it is important to know that Reddit was a seed investor in crypto exchange Coinbase back in 2011. Most recently, Ohanian also participated in a $28.5 million funding round of a blockchain-based sharing economy startup Origin Protocol.

What do you feel about the comments by Reddit Co-founder? Do you really think the crypto and the tech behind it will flourish? Share us what do you think about this

cryptoreddit

Pooja

Lead writer at Wolfcone.com and avid reader. My interests lie in everything and anything related to technology. I firmly believe cryptocurrency has the power to revolutionize world economy and blockc