HashKey Capital Open Letter: Focus on products, stay away from noise, time will tell

22-05-15 14:07

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Original title: "HashKey Capital: In Time We Trust"

Original author: HashKey Capital

Original compilation: Shenchao Techflow

A letter to our portfolio families, investors and friends in the crypto space during this difficult time. We stand together and together we believe in a better tomorrow.

The cryptocurrency market has been volatile over the past few days amidst the chain impact of the recent de-pegging of UST from the US dollar. It can be said that the era of "too big to fail" may be gone forever, and nothing is impossible now.

In this global cryptocurrency plunge, it is normal for people to lose confidence and panic about what is to come. However, we still encourage you to rethink with us from an objective perspective.

First, market sentiment is overblown. If there is no further decline in the secondary market, the damage will not exceed the impact of the "312 crash" in 2020. From the perspective of market impact, this has reduced the overheating sentiment and even speculation in the previous market to a certain extent. Many projects have accumulated sufficient resources through several rounds of financing, so strong companies will still survive.

Secondly, from a long-term perspective, similar market crashes have occurred several times in the cryptocurrency industry. This happens from time to time, especially in bear markets, where hidden problems always surface, the only difference being the magnitude of their impact. Luna's market value has grown too fast, ranking in the top ten last year, covering up its various mechanism problems, resulting in the most negative impact now.

So here is some practical advice for the brave in the cryptocurrency space:

1. Focus on your product rather than the noise in the market.

2. Projects affected by Terra should be relocated, there are more options besides Terra.

3. The capital market has also been affected. When financing, you should adjust your mentality instead of overthinking Valuation, settle down with a fair offer and focus on what investors can offer you.

HashKey Capital has been an ecosystem investor since day one, we are here to support all communities, developers and teams , they are building the future of cryptocurrencies and blockchain. If you still have confidence in your project, or you have any ideas to contribute to the industry, we are here to help, including but not limited to advice, investment or even funding.

Please remember, "No matter how long the road is, there is an end, no matter how dark the night is, there will be dawn", we will always be your faithful friends and long-term supporters. If you have faith in yourself, time will tell.

—HashKey Team