Hashed CEO: There is no need to fear this round of crypto bear market, and the fundamentals of the industry are improving irreversibly

Simon Kim, CEO of Hashed, a South Korean crypto venture capital firm, said in a post that he has experienced many market ups and downs since he entered the crypto space in 2015, and this bear market is the first one that has not really scared him. Although watching his portfolio still stings from the bear market, this bear market is fundamentally different from the past. In past bear markets, the market was pervaded by existential fears that crypto technology and the market could disappear completely, such as the threat of a complete government ban on crypto assets and the replacement of blockchain by new global ledger technology. However, at present, regardless of the daily price fluctuations, such fundamental concerns have not emerged. Global regulation is gradually evolving, with the intention of promoting development together with the industry, rather than inhibiting it; more and more institutional investors are beginning to recognize the value of this asset class, such as IBIT's largest position in the Harvard University endowment portfolio, which is highly symbolic; stablecoin metrics are hitting new highs every month, and its issuance is expected to increase dozens of times from current levels by 2030.
Simon Kim also mentioned that billions of people around the world will have access to digital assets through daily fintech applications and large-scale technology applications in the future, rather than relying on exchanges. Everything is being tokenized, and the prosperity of the on-chain ecosystem is a foregone conclusion. He stressed that the cycle is temporary and the fundamentals are moving forward irreversibly, calling on everyone to be patient. It will not take long for prices to rebound and catch up with these fundamentals.