The sector’s market cap collapse was led by terraUSD, one of the most popular U.S.
“Right now is the time to think long-term in these financial markets, including crypto.
It is unclear whether the recent rout marks the next “crypto winter” — a multiyear bear market that occurs on a cyclical basis for the crypto asset class — though dropping trading volumes on crypto exchanges is one sign that we may be headed in that direction.
There are more than 19,000 cryptocurrencies in existence and dozens of blockchain platforms, the underlying technology that cryptocurrencies are built upon.
Mark Cuban, who has become a big investor in blockchain-based technologies, recently compared the crypto crash to “the lull that the internet went through” during the dotcom bubble.
Earlier this year, Chopra’s foundation partnered with crypto crowdfunding platform EarthFund to launch a collection of NFT tokens aimed at helping people achieve mental and emotional health.
“We’re using artificial intelligence to talk to people who are feeling mentally challenged and if they need counseling, we have a token with EarthFund so that we can democratize well-being all over the world,” Chopra said.
“I hope people don’t get sucked into the melodrama , because the markets always reflect the fickle human mind.
“Ultimately, history has shown that economic development will happen because we are creative human beings, but we have to hang in there and support each other.