This title may sound surprising to some, especially after the latest news with FTX, Sam Bankman-Fried, and that ever unraveling onion. The challenge in this environment is perspective with the key being to look at this as an anomaly. The bear market is still very much ongoing. So, shaking-out an unstable and possible criminal entity during this time will only enhance the projects that have done things the right way when the bull market comes.
How do we know crypto is thriving? The total market cap (even in this down market) is still $870,000,000,000. Looking historically at the last two bear markets, the market caps dipped significantly lower to $250B and $500B. This is evidence that even though there is fear, FUD, and news stories highlighting negativity there is substantially more investment in the cryptocurrency market than ever before.
Follow the money! I like to follow Forbes, LinkedIn, and other business news outlets to see who is making large investments in the crypto and blockchain world.
Fortune 500 companies, countries, and large financial institutions are making tremendous investments in web3, cryptocurrency, NFTs, and the blockchain. Some recent examples include: Nike, Disney, Chipotle, Instagram, Apple, Google, JP Morgan, and Fidelity.
These are entities and industries that will not put their money into losing ventures. I know I’m comfortable staying in the market when I see these signs.
Through all of this – a time of mass exodus from crypto projects, wallets, and platforms, WeGro still stands strong. WeGro has maintained an unbelievable 80% holder retention rate since the start of the bear market! That is unheard of! You can see this when looking at our last 30 day charts, WeGro is 1-3% positive growth while most projects are 10-30% down. We see many projects we all know, down 50-100%! Why? As I’ve stated before, it’s important to focus on projects that have utility and clear proven leadership.
WeGro leadership has been transparent in this bear market that they are not only staying active, but building and adding to the already exciting utility. WeGro has continued to engage their community, hold AMA’s and grow partnerships.
Pay attention to the “Money.” Recognize that smart money is aligning with proven and transparent leadership teams. And, Remember the adage – “Millionaires are made in the bear markets!”