What does bear market "cleaning" really mean?

The latest bear market should send a clear signal to projects: it's about finding a problem that needs fixing and actually using your product to solve it.

In his monthly crypto tech column, Israeli serial entrepreneur Ariel Shapira covers emerging technologies in crypto, decentralized finance (DeFi), and blockchain, and their role in shaping of the 21st century economy.

The post-mortem consensus on the crypto market crash among industry leaders, ranging from Polygon co-founder Mihailo Bjelic to billionaire crypto investor Mark Cuban, is that bear markets are a sane way to clean up the market. The latter even referred to a line used by longtime crypto critic Warren Buffet to express his opinion on the matter.

"It's only when the tide goes out that you find out who swam naked."

Of course, no one in the industry would dispute the claim that bear markets weed out the weak or, in this case, the corrupt. But we would be wrong to leave the analysis on that as if over $700 billion wiped out overnight is something we should continue to accept from the crypto markets. It's important to understand the key factors behind this latest bull run that led to its massive demise, and how to foster a more stable market going forward.

We are five years away from the first monumental crypto crash caused by the infamous Initial Coin Offering (ICO) boom of 2017. As an industry still in its infancy, most projects that have emerged during this period and which generated investments were random. coins claiming to be the next Bitcoin (BTC). The industry has grown a lot since then, and this time other blockchain applications have fueled the hype.

So what was the latest version of the scam ICOs of the last bull run? ? Several factors contributed to the latest market boom that propelled Bitcoin to nearly $70,000 per coin. But perhaps the most similar to the base - and yet often ...