Chainlink Co-founder: This bear market is different from previous ones, with no major institutional collapses and RWA continuing to grow.

According to ME News, on February 10th (UTC+8), Chainlink co-founder Sergey Nazarov stated that although the total market capitalization of the crypto market has fallen 44% from its October high of $4.4 trillion, this bear market differs fundamentally from previous cycles in two key ways. First, unlike the collapse of crypto lending institutions like FTX in 2022, this downturn has not seen major institutional failures or systemic risks. There have been no large-scale risk management failures leading to institutional collapses or widespread systemic risks, indicating that the industry is now more reliably able to handle volatility. Second, the on-chain RWA tokenization value has increased by 300% over the past 12 months, proving that this innovation possesses value independent of speculation and is not closely linked to cryptocurrency prices. Bernstein analyst Gautam Chhugani also stated that the current Bitcoin price movement is merely a crisis of confidence; nothing has collapsed. BTSE exchange COO Jeff Mei pointed out that this sell-off was primarily driven by non-crypto catalysts, including concerns about the bursting of the AI technology bubble and the possibility of Kevin Warsh's nomination as Federal Reserve Chairman, which could lead to tighter liquidity. (Source: ME)