The bear market that’s hitting all corners of the digital assets industry isn't over yet and could see some more pain over the next few quarters, according to crypto-focused bank Silvergate Capital (SI).
The crypto sector may still experience a few areas of pain for some exchanges and crypto funds over the next few quarters, “but at some point, all of that will be done, and then we'll just be waiting for what's the next catalyst,” the CEO and former TradFi banker Alan Lane told CoinDesk in an interview.
However, investors shouldn’t compare the current crypto price slide to previous ones given the broader global economic reset as digital assets have fallen with macro trends including rising rates and inflationary pressures, Lane said.
Shares of Silvergate are down 42% this year, though they’ve jumped 33% over the last week. The VanEck Digital Transformation ETF (DAPP), which holds a basket of various crypto stocks including exchange Coinbase (COIN) and miner Marathon Digital (MARA),...
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