After the crypto crash last month, the crypto economy is facing a dip in its prices. Various crypto assets have experienced a fall of 40% to over 80% in value against the U.S. dollar. The flagship currencies such as Bitcoin and Ethereum too suffered its wrath as they had steep fall in their prices.
Avalanche (AVAX) has decreased by 83.9% in value against the USD since its ATH on November 21, 2021. Emin Gün Sirer, the co-founder of Avalanche, talked about the downturn in AVAX in a recent interview.
Gün Sirer seems to be quite hopeful regarding the AVAX future even after witnessing the highly volatile nature of the crypto market and bearish trends last month. The co-founder believes that AVAX is the best technology available today. AVAX is simply actually the most innovative blockchain platform device.
Sirer said that AVAX is the best technology, looking from the perspective of creating blockchains that are scalable and customizable.
Gün Sirer further says that Ava Labs is a private company that is also “thriving.” Sirer also shared that currently there are 180 employees in the company but he expects it to expand and reach 250 by the end of the year.
The co-founder also revealed that they have multiple sources and they have enough funds to survive for many years to come. Therefore, he says they are in a good place as of now and expanding fast.
Furthermore, Gün Sirer commenting on decreasing AVAX value said that there are a lot of things happening in space, currently. He explains that macro conditions are what they are. A lot of money was printed and now everybody wants to contract the money supply. He said that all assets, not just crypto. But equities have decreased too.
The Avalanche co-founder also talked about the policies of the Federal Reserve. Sirer said that if some macro conditions cause a higher recession, there is a chance that central banks step back from their stand of aggressive policies. Gün Sirer also pointed out that the economy can go anywhere and the fiat values of cryptos is not something he is supremely interested in.
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Source: https://www.thecoinrepublic.com/2022/06/07/avalanche-co-founder-emin-gun-sirer-says-avalanche-is-the-best-technology-available-today/