Anatoly Yakovenko – Solana Co-founder: Crypto Winter Could Last More Than 1 Year

Solana Co-founder Anatoly Yakovenko acknowledged the serious effect of regulatory policies, the mass crash of giant projects, and the sentiment on the crypto industry. This period could last at least 1 year and come to a recovery state after that.

Anatoly Yakovenko has shared his viewpoint on the bear market, how it affects the whole industry and his belief in the development of Solana’s business model in this period.

Since May, the crypto investors witnessed the collapse of Terra – like a shock – and began the mass crash of other projects throughout the wider market. But they are not the main reasons that lead the entire market in freeze winter. The crypto prices have decreased for months, the inflation rises, FED regulation, and US Federal Reserve’s high-all-time interest are the shockwaves engulfing the market.

In the interview, Anatoly Yakovenko pointed out that the crypto market will not recover soon and the investors will continue to experience pain for a time, at least 1 year. But he also emphasized that the whole marker will have optimistic signs and return to the growth gradually.

“Looking at macro stuff, my guess is there’s probably 12 to 18 months more of this brutal Fed rates going up,” he said. “But there is an end to it. And just like the last bear market, a lot of teams that built and focused on product-market fit, and really tried to build amazing products—a lot of those succeeded, I think, in a very dramatic way.”

The leading decentralized blockchain Solana also suffered in the winter crypto. According to Coincu data on-chain, the price of SOL decreased by 81% since the beginning of this year 2022.

However, Anatoly Yakovenko said that Solana has kept the momentum of growth despite the dark shadow covering the whole market. The firm still launched new projects in the ecosystem and Solana startups still gained “still pretty high valuations” in this period.

“We call it Breakpoint because it’s kind of break,” he said with a laugh. “But I think that’s important—to take a break and then look back at what we accomplished, what the challenges were over the last year, and really re-energize everyone to continue building.”

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Ken

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