"Best Times to Get Ahead": Coinbase CEO Says as Sentiment Drops on Market

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. In a recent tweet, Coinbase CEO Brian Armstrong weighs in amid a sentiment drop on the market, saying this might be the best time to get ahead. Armstrong was reacting to a tweet by Nick Tomaino, who indicated waning sentiment on the market. According to Tomaino, $36 billion of crypto VC was raised in 2022, but three years down the line, sentiment is now low. Explaining the market scenario, Tomaino added that "metals are outperforming coins, teams that raised hundreds of millions are giving up, DeFi and NFTs have underdelivered, nothing new has broken through to mainstream except Polymarket." He added that he "can’t think of a better time to build and invest if you believe in something." Yeah, honestly these are the best times to get ahead. https://t.co/ZNRkvvH37z The Coinbase CEO agrees with this point of view, saying, "Honestly these are the best times to get ahead." Fear remains the prevailing sentiment on the market, with the fear and greed index at 37, which is "fear." Despite the Fed rate cuts in the past year, this has failed to spark a sustained rally in crypto ever since token prices crashed across the board on Oct. 10. Amid this drop, a quiet but telling shift is unfolding on the crypto derivatives market. CME Bitcoin futures open interest has fallen below $10 billion from a high of over $21 billion. One-month annualized yields are hovering around 5%, among the lowest in years, as reported by Bloomberg, which cited Amberdata. In a recent an...