Layer by Layer Issue 29: Avalanche, Terra, and Polkadot

Crypto markets remain in a state of relative inactivity as traditional equities markets continue to see shrinking public valuations after peaking at the end of 2021. Punctuated by a string of missed tech earnings and an increasingly hawkish stance on interest rates by the US Federal Reserve, the S&P 500 has fallen by nearly 13% since the start of the year.

This prolonged uncertainty in equity markets has spilled over into the realm of crypto, highlighted by Bitcoin’s tight correlation with both the Nasdaq and S&P 500 since mid-March.