ISTANBUL--(BUSINESS WIRE)--The upcoming Bitcoin halving, scheduled for late April 2024, is expected to create a scarcity effect that drives up demand and price, but the exact impact on the Bitcoin price remains uncertain. According to Mete Umut Elmas, Head of MENA Business Development at KuCoin, one of the top 5 global cryptocurrency exchanges, these market conditions could be the catalyst for the next Bitcoin price bull run, but investors should always conduct their own research and consult with financial experts before making any investment decisions.
Elmas spoke at the Istanbul Fintech Week 2023, the largest regional fintech event in Turkey. During a panel discussion on Token Crowdfunding in a Bear Market, he shared his expertise and insights on the crypto market and blockchain industry trends.
Elmas highlighted the differences between the current bear market and the one that followed the ICO boom in 2017, stating that the current market cycles are natural and that the industry is finally getting an opportunity for consolidation and the development of practical, value-driven applications that will ultimately drive adoption.
He also discussed how the current market conditions are leading to measures aimed at protecting users, promoting informed crypto and blockchain-based use cases, and driving increased institutional investment, which is expanding our understanding of the crypto economy as an alternative asset and fostering confidence in the market.
Elmas attributed KuCoin's sustainable growth journey, particularly during the market peak in 2021, to its unwavering commitment to security, innovation, community engagement, and strategic partnerships. By prioritizing user needs, forging strong partnerships, and embracing innovation, KuCoin has shown that sustainable growth is achievable in the crypto space, positioning itself for continued success in driving the adoption and evolution of cryptocurrencies.
When asked about the future of the crowdfunding market, Elmas noted that the crypto and blockchain markets are still in their early stages and likely to experience significant growth and change in the coming years. He highlighted that crowdfunding is a popular use case for blockchain technology and that the trend of decentralized crowdfunding is likely to continue.
The Istanbul Fintech Week, which took place on April 13-14, 2023, attracted over 10,000 participants from more than 30 countries. KuCoin joined hands with over 60 sponsors and partners, including 300 speakers, for the two main summits, Blockchain Fest and Digital Finance Summit, to exchange knowledge and insights on the future of blockchain and cryptocurrency in the region.
The panel discussion was co-chaired by Calvin Chu, Core Builder, Impossible Finance, Shafeeq Qureshi, Founder, The Crypto Hub, and Mehmet Büyükakarsu, Turkey Business Development Lead, BNB Chain.
About KuCoin: Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community action reach, it offers over 700 digital assets and currently provides spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending to its 27 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges according to CoinMarketCap. Forbes also named KuCoin one of the Best Crypto Exchanges in 2023. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
To find out more, visit https://www.kucoin.com