22. September 2023

• KuCoin’s executive, Dorian Vincileoni, believes that the bear market has allowed crypto companies to better listen to their users.
• Binance’s vice president of marketing also stressed the importance of community support during both bull and bear markets.
• KuCoin is taking a community-first approach to continue providing services for projects with an organic interest in the market.

Navigating The Bear Market

Crypto has been facing an ongoing bear market since spring 2022 after a historic bull run that had investors, developers and users piling into the Web3 space. Despite the current market conditions, many in the space still view this as a time to mature the industry. Cointelegraph spoke with Dorian Vincileoni, Europe business development lead at KuCoin, about how companies can best utilize this bear market and make user experience top priority.

Listening To User Needs

Vincileoni told Cointelegraph that bear markets have given companies time to build and develop products and services for efficiency for users. He explained that during bull markets it can be difficult to hear what users need due to “so much noise on the market” but otherwise it is easier to get legitimate opinions from their organic user base. Vincileoni said: “We are closely listening to what our organic base is saying and what they are interested in.” He continued by saying this is not the time for exchanges to be dragged down by negative news but rather focus on improvement when favorable market conditions return.

Community First Approach

KuCoin is taking a community-first approach when it comes to providing services for projects with an organic interest in the market regardless of current conditions. Vincileoni noted that “throughout this bear market, projects still managed to create organic communities” showing that there is still plenty of interest in cryptocurrency despite its decline in value over recent months. This sentiment was echoed by Binance’s vice president of marketing who emphasized double downing on community support during both bull and bear markets alike.

Innovating During Bear Market

Vincileoni highlighted some of changes being made at KuCoin such as creating more efficiency through innovation during these times: “We really try look at communities…It’s our objective to provide service them.” The executive further mentioned focusing on developing products and services while still paying attention customer feedback will help businesses grow despite current challenging conditions in asset prices across all digital assets .

Adjusting To Market Conditions

The crypto space has had its fair share of highs and lows over recent years; however, those within it remain optimistic about adjusting strategies based on changing dynamics within each individual sector or industry like DeFi or nonfungibles (NFTs). By staying agile through investing into research & development while keeping an open ear towards customer feedback companies should be able position themselves well regardless which way trends move going forward.