Layer by Layer Issue 24: Fantom, Terra, and Cosmos

Bear markets are difficult periods to navigate. Widespread loss of capital is followed by increased market volatility as desperate investors increasingly act on impulses of fear and greed. Enterprises take a hit too, as, once sky-high valuations fall to Earth, forcing teams and their backers to take stock of their current holdings and operations, as well as their expected future performance. 

Often, market downturns are also a reflection of conflict in broader society. Over the past few months, both crypto and traditional equities markets have been shaken by overlapping fears of aggressive Fed rate hikes in response to accelerating inflation, escalating wars in Eastern Europe and Asia, the resurgence of the Covid-19 pandemic, supply chain failures, regulatory crackdowns, and many more. Since early January, the S&P 500 has seen a significant drawdown, falling by about 13.4% from its peak after closing at $4,173 on March 14th.