Dragonfly Partner: The current market sentiment is far from the despair during the FTX collapse, and the fundamentals of the crypto industry remain solid.

BlockBeats News, February 11 — Dragonfly Managing Partner Haseeb posted on X stating, "I’ve heard many people say this week that the current market sentiment is worse than during the FTX collapse. No, it’s not even on the same level. This is just a typical case of ‘recency bias.’

The FTX collapse was an unprecedented despair abyss for the entire industry since Mt. Gox, a true systemic failure. At that time, we didn’t even know what could survive, let alone whether this would lead to a de facto ban of the crypto industry worldwide. No one knew when the industry might recover, and some even feared the entire sector might be forced into ‘hibernation.’

Bitcoin’s price has fallen since October, which is indeed tough. But in reality, the fundamentals of the crypto industry look completely fine. The system has withstood the test. The global regulatory environment is clearly improving, institutional and corporate adoption continues to advance, market activity remains unusually high, perpetual contract DEX just hit a record high trading volume, and stablecoin adoption is in a explosive growth phase. It takes time. But we will be okay."