Recently, several concerns have been rising about the crypto market’s conditions as it is now reportedly facing a crisis. Ki Yong Ju, the CEO of CryptoQuant, a prominent company dealing with crypto analytics and market data, has highlighted an apprehensive scenario where traders and developers are evolving. The CryptoQuant CEO took to his official X account to reflect on the current state of the crypto market.
Traders and Developers Evolve, Influencing the Present Situation of the Crypto Market
In a comprehensive social media post, Ki Young Ju mentioned that both the crypto traders and builders are the chief dopamine drivers. The industry structure has changed with a significant increase in the unpredictability around the crypto market on which traders thrived. Traders have reportedly treated it in the form of a high-stakes gamble due to the potential for enormous rewards.
On the other hand, builders got inspiration from the exclusive opportunity for innovation in an unfamiliar technological sector. The CryptoQuant CEO pointed toward the mutual collaboration between the respective 2 market pillars in the initial days. Both the traders and builders contributed to the excitement and growth in the crypto world at that time. Nonetheless, as per Ju, a substantial evolution has taken place in the case of these top market contributors.
Initial investors have on a large scale paved the way for relatively traditionalist market participants. Additionally, futures traders turned prominent nearly 6 years back while risk-averse individuals and institutional investors are currently dominating the scene. In the meantime, the builders’ profile has also changed. The early pioneers of the crypto industry were mostly cypherpunk cryptographers. However, the rapid market expansion resulted in the arrival of entrepreneurs, coin issuers, and exchange founders.
The Failure of Crypto Builders to Create Thrill for Traders Leads to the Industry’s Decline
They came from diverse sectors, including media, gaming, and finance. This inclusion of a multi-faceted talent has offered several benefits for the cohesion of the industry. In the words of Ju, several of the latest builders are conducting a diverse game in comparison with the traders. They create products that remain ineffective to thrill the market. Hence, the synergy between these two chief market influencers has now disintegrated. Consequently, Ki Young Ju asserted, an industry with a failure of these dopamine factors, is bound to decline.
