Despite the noted increases in the price of Bitcoin and many altcoins since the beginning of the year, it is difficult to speak of a return to a bull market. Instead, the ongoing bear market is causing many projects, with strong fundamentals, to steadily grow. This translates into the shape of cryptocurrency events, which have gone from boisterous to more substantive.
Bear market attracts the most persistent
The prolonged cryptocurrency winter has forced cryptocurrency event organizers to tone down the lavishness, allowing attendees to focus on more sophisticated aspects of the market. Such events attract a very wide audience, from founders and high-level executives to cryptocurrency influencers and everyday users.
Tiffany Fong, a cryptocurrency vlogger who rose to fame by interviewing former FTX CEO Sam Bankman-Fried after the exchange’s collapse, attended one such conference for the first time.
As she points out: “there is no comparison between the conferences of a year ago and the ones now.” At the same time, she added that their format this year is noticeably lighter.
Continuing she points out: “People mentioned the great DJs who performed at previous conferences during the boom and indicated that the parties and events are much more subdued this year.”
Fong is not concerned about this fact, as she believes that enthusiasm for cryptocurrencies remains strong and is an opportunity to meet others in the industry.
Important event in the XRP world
Last weekend, in the heart of the gambling city in the United States, the XRP Las Vegas conference was held for lovers and supporters of the XRP cryptocurrency. Attendees showed enthusiasm and positivity about the future of crypto, but they also did not hide their frustration about the lack of regulatory clarity in their country.
According to John Deaton, an attorney representing the pro-XRP side in a lawsuit against the SEC, XRP fans asked “well thought out, intelligent questions” at the conference, however, one could sense some frustration in their voices. According to Deaton, “achieving regulatory clarity shouldn’t be so difficult or take so long.” As he points out, the participants’ frustration also related to the approach of the SEC, whose chairman Gary Gensler implements regulation through enforcement, which recently culminated in action against several cryptocurrency companies. The XRP Las Vegas conference was certainly an interesting experience for attendees, who had the opportunity to meet other cryptocurrency enthusiasts, but it also provided a venue to voice their concerns and doubts.
Quality over lavishness
Many market observers stress that the current format of the conference is much more friendly and supportive of development. Importantly, it does not result in hype and the pursuit of rising prices, but centers around the builders and their philosophies on the development of individual projects. Above all, it is a time when cryptocurrency ecosystems with the strongest foundations can be discovered.