[zabatuvajdka]

If a recession is bad enough some will panic and pull it all out.

The reality is that crypto is not essential—it’s convenient and has potential but it’s value is backed by what? Other financial assets are backed by stuff like voting rights in a company or a physical asset.

Hence: people will dump crypto first.

I suppose Ethereum is different because it is backed by the functionality provided by the distributed Turing machine and all applications which rely on that. So the folks who wouldn’t pull their money out would be product owners who rely on the blockchain as a revenue stream.

My question would be who holds the price up high? Institutions or the broader public holdings of ETH?

[unicornmama]

What real world applications rely on ETH? All I see are apps that operate in the crypto space playing finance games with cryptocurrencies.

[WhisperingShiba]

Money is not essential either, mind you.

Oxygen, heat, water, food. In that order. At least crypto is 'backed' by math. I expect the currency to dump will be related to who, and not what, is backing each asset class.

[delaaxe]

Wait till DAI gets backed by real estate bonds.