Will the Crypto Market Downfall Continue?

He had the opportunity to interview Lou Yu, the head of KuCoin Labs, at Blockchain Economy Istanbul, which attracted the attention of many crypto money enthusiasts in Turkey and the world. KuCoin Labs is the investment and incubation arm of KuCoin, a famous Bitcoin and altcoin exchange. In the interview, Yu shared his thoughts on the latest regulations in the crypto space. Apart from that, he mentioned the metaverse, NFT, web3, and GameFi while referring to the recent decline of cryptocurrencies. Here are the details of the interview…

KuCoin Labs manager commented: How do cryptocurrency regulations affect the market?

In the past weeks, the widely followed Blockchain Economy Istanbul event took place. cryptocoin.com At this summit, of which we are the official sponsor, we had the opportunity to talk with many experts. In today’s post, we will share our interview with Lou Yu, the manager of KuCoin’s investment and incubation division, KuCoin Labs. However, before the interview, you can watch our video showing the scale and significance of the event:

Cryptocoin: Greetings everyone, today we are with Lou Yu. He works at KuCoin. Can you introduce yourself?

KuCoin Labs Manager Lou Yu: Of course, first of all, hello everyone. My name is Lou Yu. I am the head of KuCoin Labs, the incubation and investment arm of KuCoin.

Cryptocoin: Our first question is, how do you evaluate the recent moves of the SEC (US Securities and Exchange Commission) towards the crypto market? Do you think these decisions are good decisions for the market?

KuCoin Labs Manager Lou Yu: As you know, the SEC looks at many regulations for stock markets in general. I think these regulations are good ideas for the market because they will help control the space. To clarify, as a professional working in this field, we are likely to encounter limitations in our day-to-day operations when it comes to regulation. However, with these limits, we will be protected against all damages that may come from the market. I think this is actually one of the best things that could happen. When regulation arrives, it will include traders, users, and everyone involved in this industry, as well as professionals. So, overall a good thing.

Will the decline in the cryptocurrency market continue?

Cryptocoin: Thank you for your answer. Do you think the price drops in the market are healthy or are they a harbinger of new decreases?

KuCoin Labs Manager Lou Yu: I think our recent downturn and future trends don’t have to be linked. However, this year was really tough for people and especially the fact that COVID lasted longer than 2 years affected the market a lot. So COVID, the war in Ukraine, the state of the global economy and the energy crisis – I think these declines are not just crypto specific; It’s about how people view and trust the global economy in general.

In addition to these crises, it is also related to inflation, local and global economic policies and geopolitical issues. In other words, events in the market actually reflect people’s feelings. I can’t say if the decline will continue or end in the future because we can’t really predict it. However, if we are to move forward in a very narrow atmosphere as in the last period; Politically and ecologically, many industries from very extreme industries – from crypto to entertainment – ​​will continue to be influenced by people’s feelings.

How can individual traders act in the market?

Cryptocoin: How do you think the daily movements in the cryptocurrency market should be read? What are your recommendations?

KuCoin Labs Manager Lou Yu: First of all, I must say that not everyone can do research in the same way, because the resources available to all of us are different, we all use different tools. So if you are a professional trader, you have many tools, you can do your own analysis. If you are someone who makes small investments, I think the most important thing is to follow people who make good analysis. So you can understand why and how those people think. However, you shouldn’t take it too seriously. Because you need to know what you are investing in, as well as the opinion of others. As professionals in the field, we always recommend “doing your own research”.

Cryptocoin: Finally there has to be a place we can trust, right?

KuCoin Labs Manager Lou Yu: I think you are serving in a really good place. There are a lot of media and press agencies like you right now. I think you create really quality content, and when you talk about something, you’re not just talking about opinions but also facts. You provide ideas with factors such as “how these facts were in the past, how they were today, and how they will be in the future”.

Thanks to you, other people in the market have the opportunity to read how things were in the past and today, from different perspectives. In addition, they can learn the thoughts of various experts about the future. This allows people to create and enrich their own perspectives on the market.

In the meantime, you can watch the full interview with the KuCoin Labs executive below:

KuCoin admin pointed to web3, NFT, GameFi and metaverse as the “next big thing”

Cryptocoin: Our final question is, what do you think is the next big thing in the cryptocurrency market? Which projects will lead to this?

KuCoin Labs Manager Lou Yu: I think I can say for the next step… Many traditional funds, technology companies and different industries are now moving from web 2 to web 3. This opens a big window to newcomers with NFT, GameFi and metaverse. At the same time, these developments are causing a new influx into the crypto industry. This is the driving force that enables us to do what we already do better. For example, last year there was a big bubble in the NFT and the playground. While this was a good sign, it was part of a very new order. We now know that they have economic value and the team behind all of them is working to consolidate their projects on this level in the long run.

We, as KuCoin Labs, work with the Universe Platform, for example. This platform aims to combine the Unity and Unreal engines into a single engine by using its own blockchains on metaverses online and offline VR systems. In this way, everyone can develop their own chain very easily. Ultimately, this will be a metaverse hub. Such builds will actually benefit my app developers, gamers and NFT creators. In the future, it will have a more solid grounding.

Cryptocoin: Thank you very much, is there anything you want to add?

KuCoin Labs Manager Lou Yu: This is my first visit to Istanbul. I think this is something worth adding.

Cryptocoin: Did you like Istanbul?

KuCoin Labs Manager Lou Yu: I like it very much and I was very surprised that there are so many cats on the streets and they are very very cute. I find it here for my talk tomorrow. As KuCoin and KuCoin Labs, we have come to give you information about how startups are established in developing countries such as Turkey. We will talk about who we are competing with in the industry, who can participate in our incubation and investment.

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