CoinEx 丨 Ecosystem Development and Underlying Construction Remain an Eternal Theme, Whether We’re in A Bull or Bear Market

Are we in a bull market or a bear market? That is a question.

Bitcoin briefly topped $40,000 yesterday at the news that “Amazon will accept Bitcoin payments soon”. The cryptocurrency surged from $34,000 to the above mark after stagnating within the price band of $30,000-$40,000 for more than two months. Many people hailed this rebound as a sign of the bull market’s return.

To date, Bitcoin has hovered at a low price range for over two months. This fact is undoubtedly an extreme test for every investor in the market. Price swings make investors feel like they are taking roller coaster rides. However, what is the market outlook for Bitcoin? Will we be in a bull market or a bear market? This is a question almost everyone wishes they can answer correctly.

While no one can accurately predict the alternation of bull and bear markets, a review of the past perhaps can help us more accurately discern the opportunities lying ahead and have a deep understanding of the fundamentals of the industry. As we get down to developing infrastructure construction, the industry is on track to survive and thrive no matter what happens.

A leader in ecosystem prosperity

A look back at the five-year development of CoinEx reveals that the company is committed to attaining long-term development. Specifically, it undertakes projects that can bring long-lasting growth and vitality, which is also an important criterion the CoinEx team uses to screen candidate projects. At CoinEx, any decision is made on the basis of a commitment to security, openness, and transparency, the top three values its team always upholds. These efforts have also earned it the support and trust of users over the long run.

In a bull market, the entire industry flourishes with numerous projects. The CoinEx team evaluates earlier projects from three major aspects. First, based on the overall picture, it tries to spot the problems facing the crypto industry and decide whether the problems signal any blockchain technology bottlenecks or great market needs. Second, the team takes a closer look at products. In other words, it considers whether a product or service is in demand. If yes, target user groups are pinpointed, and rational market strategies are formulated to help expand the user base. Third, it examines project teams. Specifically, it looks into the backgrounds of project teams and finds out whether they are experienced and competent enough to do what they say.

Since its very inception, CoinEx has been focused on innovating its products and businesses and searching different fields for promising projects. Fully geared up for spot trading, it is now exploring the possibility of marching into derivatives and many other new market segments such as DeFi, NFT, and Polkadot. The influx of countless blockchain enthusiasts into the platform in the bull market can be precisely attributed to a fact that CoinEx has always been committed to helping users trade blockchain assets in a more secure, efficient, and convenient way.

Provide Basic Support

When it comes to a bear market, the key to judging the operation of an exchange is to see whether it can take root in infrastructure construction and whether its infrastructure can bring about a certain economic effect.

In a bull run, while advancing the ecological development and focusing on the pioneering work in the building of the industry’s underlying architecture, CoinEx has also unveiled CoinEx Smart Chain (CSC) to meet business and market needs.

Two years ago, the CoinEx team kicked off the CSC business. Numerous experiments and error corrections have been carried out since then. It was not until the beginning of this year that the team decided to divert to the field of smart contract chains. It comes as a response to the needs of business development and also to the rapid progress of DeFi as CoinEx sincerely believes the underlying decentralized general platform based on the smart contract chain represents the real future of the blockchain.

With the development of blockchain, the continuous emergence of new problems is pushing practitioners to accelerate innovation and creation. Take Ethereum for example. Due to its pursuit of extreme decentralization, it has been frequently encountering performance problems. And its high gas has been keeping users away. This actually provides development space for infrastructure builders.

The CoinEx team hopes that CSC can improve performance, accelerate block generation and be compatible with Ethereum. But to achieve all of these, CSC will sacrifice a certain degree of decentralization. Therefore, to strike a better balance, CSC adopts a PoS consensus mechanism which enables it to both improve transaction efficiency and realize decentralization.

The aim of CSC is to integrate all DeFi infrastructure as one. So it requires the CoinEx team to focus on ecosystem construction.

As is known by all, although in two different directions, CeFi and DeFi are not completely contradictory. Therefore, CSC expects more projects in this area and will provide them corresponding incentive policies to promote the development and growth of the entire CSC ecosystem. To put it simply, CSC has not copied the ecosystem or asset projects of Ethereum. Instead, it is an independent and open ecosystem with a low threshold. Although these new projects rely on the CSC ecosystem, we will never make CSC the duplicate of the Bitcoin or Ethereum ecosystem, whether in terms of assets or users, and neither will we blindly pursue the TVL.

CoinEx aims to become the builder of the underlying technology of the blockchain, to encourage CSC to continuously innovate in an increasingly decentralized world, to construct more open platforms, to accelerate the integration of various elements in the DeFi ecosystem, and to contribute to the development of the blockchain field. Meanwhile, CoinEx keeps expanding the market and extending its ecosystem-building efforts to multiple fields. It is undeniable that CSC is on its way to being the underlying infrastructure of the industry.

The market is changing rapidly, especially in the crypto industry. For CoinEx, whether it is in a bull market or a bear market, the future of cryptocurrency is worth expectation. As the market is embracing increasing financial institutions and traditional enterprises, there will be a wider consensus in the cryptocurrency field. Players in this field should always keep in mind that to survive with the increasing fungible competitors around, it is vital to make an ecosystem prosper, consolidate the underlying layer and work out a differentiation strategy.

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