Aave Chan co-founder: Current slump like 2018 is an opportunity for builders

Marc Zeller, founder of the Aave governance group Aave Chan Initiative (ACI), has diagnosed the current crypto market sentiment as the worst in recent years but sees it as an opportune time for developers to concentrate on building. Writing on X, he explained that the current environment is unlike the end of the 2021–22 cycle, as it lacks major collapses like those of FTX, Celsius, and Luna. Instead, Zeller likened the market to 2018, characterized by a sense of despair stemming from the perception that crypto is no longer appealing due to stagnant token prices. He added that key protocols such as MakerDAO (now SKY), Compound (COMP), Synthetix (SNX), and EthLend (now Aave) were created during that previous period of public indifference. Zeller concluded that even if the market remains subdued for some time, it presents an exciting opportunity to focus on development and deliver tangible results.