Dragonfly Partner: Current Market Sentiment Nowhere Near as Desperate as FTX Apocalypse, Crypto Industry Fundamentals Still Strong

BlockBeats News, February 11th, Dragonfly partner Haseeb posted on X, saying, "I've heard a lot of people this week say that the current market sentiment is worse than during the FTX collapse. No, it's not even close to the same level. This is just a typical case of 'recency bias'."

The FTX collapse was a despair abyss that the entire industry had not experienced since Mt. Gox, a true systemic breakdown. At that time, we didn't even know what else could survive, let alone whether this would lead to a de facto ban of the crypto industry globally. No one knew when the industry would be able to recover, and some even feared that the entire industry might be forced into 'hibernation'.

Bitcoin's price has indeed fallen since October, which is really tough. But in reality, the fundamentals of the crypto industry seem completely fine. The system has withstood the test. The global regulatory environment is clearly improving, institutional and corporate adoption continues to advance, the prediction market is unusually active, perpetual contract DEX just set a record high trading volume, and stablecoin adoption is in an explosive growth stage. It takes time. But we'll be fine."