Chainlink founder: Current downturn is fundamentally different from past bear markets

Chainlink (LINK) founder Sergey Nazarov has argued that the recent cryptocurrency market correction is fundamentally different from past bear markets. According to Cointelegraph, he stated that this downturn is not a setback for the industry but rather a case study of how far it has evolved. Nazarov explained that while market cycles are a recurring phenomenon, the key is whether the industry demonstrates stability and maturity in the process. He noted that the current correction has not seen a repeat of the 2022 FTX collapse or the chain of bankruptcies among crypto lending platforms, and that no widespread risk management failures or systemic risks have been observed. This, he suggested, indicates that the cryptocurrency industry has entered a phase where it can absorb volatility more stably than before.