According to BlockBeats, on September 7, Blur and Blast founder Pacman shared his thoughts on social media about the evolution of the cryptocurrency market since 2019. He described the 2019 bear market as particularly disheartening, noting the lack of enthusiasm and user engagement in the crypto space at that time. However, he highlighted the significant developments that have occurred since then, including the emergence of DeFi, Perp DEXs, NFTs, and yield-bearing stablecoins. Pacman emphasized that there are now a considerable number of active users on-chain, engaging in substantial trading activities.
Pacman acknowledged the difficulty in predicting short-term price movements in the coming days or weeks but expressed confidence in the continued existence and growth of the crypto sector. He pointed out that each market cycle tends to produce new category leaders, many of which are established during bear markets. He cited Blur as an example of a project that was built during such a period. Pacman concluded by stating that challenging times often present the best opportunities for innovation and growth in the cryptocurrency industry.
