The crypto industry we once knew “is in crisis because it fails to provide any dopamine to either builders or traders”. This is the conclusion reached by CryptoQuant CEO Ki Young Ju.
Ju’s analysis of the crypto industry does point to certain problems and changes in the industry. He notes a decrease in the dopamine effect for both builders and traders, which can be interpreted as a loss of the excitement and enthusiasm that drove the industry forward in its early stages. This observation reflects actual changes in market dynamics, including a change in the profile of participants, increased regulatory pressure, and overall market saturation.
Change is an integral part of the development of any industry. The crypto industry is undergoing a transformation that may be perceived as a crisis. But this could also be a stage in the industry’s “maturation,” moving from a purely speculative model to a more sustainable one focused on creating real value.
To move forward, the industry needs to find a new balance between innovation and stability. The focus could shift to developing real-world applications of blockchain technology, tweaking DeFi projects, and exploring new areas of NFT use. Adapting to regulatory requirements, while it may seem limiting, could open up new opportunities for the legitimacy and mass adoption of cryptocurrencies.
Ki Young Ju’s comments raise key questions about the current state of the crypto industry, but an approach to embracing change and focusing on the future seems more promising for the long-term development of the industry. The ability to adapt to new conditions and continue to innovate despite challenges will be key to the continued growth and evolution of the cryptosphere.