Bear market allows crypto companies to ‘listen’ to users: KuCoin exec
Crypto has been at the mercy of an ongoing bear market that began in the spring of 2022, after a historic bull run that had investors, developers and users piling into the Web3 space.
Despite interest slowing down and companies needing to adjust to the current market conditions, many in the space still view this as a time to mature the industry.
Cointelegraph spoke with Dorian Vincileoni, the Europe business development lead of KuCoin, at the Proof of Talk 2023 blockchain conference on how companies in the space can best utilize the bear market with users as the main focus.
Vincileoni told Cointelegraph that bear markets have given companies time to build, innovate and develop products and services to create more efficiency for users. He explained that during bull markets there is “so much noise on the market” making it harder to hear community needs.
The executive continued by saying this is not the time for exchanges to be “dragged by the spiral of negative news” but rather to focus on improvement to know where to go next when favorable market conditions return.
“One thing that we have seen is that throughout this bear market, projects still managed to create organic communities,” he said. “The level of interest in the market is down but not nonexistent at all.”
Related: Crypto layoffs decelerate, with layoffs falling to 570 in February
KuCoin is not alone in its community-first approach. Cointelegraph recently spoke with Binance’s new VP of marketing, who also stressed that the crypto space needs to ‘double down’ on community support during both the bear market and regulatory uncertainty.
Vincileoni said when it comes to regulatory uncertainty they have stopped trying to “assume” what’s next. Instead, when
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