Hashed Partner: This current bear market has not seen significant fear, and the cryptocurrency fundamentals have irreversibly turned for the better.

On November 18th, Simon Kim, the CEO and Managing Partner of Hashed, stated on social media: "To be honest, as someone who has experienced all bull and bear markets in the crypto space since 2015, this is the first time I haven't felt significant fear during a bear market. Asset contraction is still painful - the common fate of all bear markets - but this time is fundamentally distinct. In every previous bear market, there was an existential anxiety, fearing the complete annihilation of this technology and market. The threats at that time were obvious: governments could collectively prohibit crypto assets, or a new ledger technology could disrupt blockchain. However, regardless of daily price fluctuations, this bear market no longer has these fundamental concerns. Global regulation is evolving to promote the growth of the industry rather than suppress it. More and more institutional investors are recognizing the value of such assets. The listing of IBIT as a top holding by the Harvard endowment fund is highly symbolic, and the stablecoin metrics hit record highs monthly. By 2030, the stablecoin issuance will increase by tens of times compared to now, and billions of people around the world will interact with digital assets through daily fintech and large tech applications (rather than trading platforms). Everything is becoming tokenized, and the prosperity of on-chain ecosystems is now a certainty. Cyclical volatility is temporary, but the fundamentals are advancing irreversibly. Let us be patient and wait a little longer; the moment when prices catch up with the fundamentals is not far away."