Bitget CEO Gracy: The consensus in the crypto industry is becoming more conservative, and the current market is in a phase of recovery and consolidation.

BlockBeats News, October 23rd, Bitget CEO Gracy posted on X, stating that after recent exchanges with multiple top market makers and VCs, the industry consensus is becoming more conservative. She pointed out that currently, retail investors have a very poor risk-reward ratio in meme coins, VC funds have significantly withdrawn from the Web3 primary market, and only infrastructure projects with real-world assets such as stablecoins, RWAs, and payments still hold value, but most of these projects will not issue tokens. She also believes that the NFT bubble is bursting, long-tail projects lack genuine buying interest, recent fundraising is mostly in the form of "token-for-equity," and investors are generally facing high risks. Gracy also stated that after the 10/11 Black Swan event, market trading volume has decreased by 20%-40%, many market makers have been severely hit, and the current market is in a phase of recovery and consolidation.