Australian Entrepreneur Claims Some Cards Have Already Started To Fall, Referring To The Collapse Of Major Cryptocurrencies
during his latest appearance On Australian television panel “The Project”, Dogecoin co-founder Jackson Palmer compared the cryptocurrency to a deck of cards.
“Some of the cards on his bottom have started to fall out,” Palmer says.
However, he acknowledged that it is “too early” to state with certainty whether the recent price correction marked the end of the cryptocurrency.
Palmer believes that decentralized finance is actually the underlying reason behind the cryptocurrency crash. According to the Dogecoin co-founder, the lenders, who were gambling with users’ funds to offer very good-than-true interest rates, are to blame for the cryptocurrency crash. “Obviously, when you’re doing that, it’s one of those things that you bet on to crash, and then it sets off a whole chain reaction.”no value proposition
Palmer is convinced that cryptocurrencies have no value proposition due to tighter regulation.
Since electronic banking is “very easy” to use these days, the Dogecoin co-founder does not see a specific use case for cryptocurrencies, despite the fact that their cumulative value approached $3 trillion last November. was.
The Australian software developer hopes the ongoing crash will be a “wake up” call for people.
as Reported by U.TodayPalmer said that cryptocurrencies are the facilitators of scams.
Earlier, the Dogecoin co-founder locked horns with Tesla CEO Elon Musk on social media. DOGE is down 92% from its record peak it achieved last May.