In an article published on the X platform, Dragonfly Managing Partner Haseeb stated that while some industry insiders believe current market sentiment is worse than during the FTX crash, he explicitly refutes this, calling it a classic case of the "recency effect." The FTX crash was the most severe systemic crisis in the industry since Mt. Gox, with concerns that the crypto industry might face functional bans globally, leading to high uncertainty about its future. In contrast, while prices have declined since last October, the industry fundamentals remain healthy, including a continuously improving global regulatory outlook, ongoing institutional and corporate adoption, active prediction markets, record-high trading volume on perpetual contract DEXs, and rapid growth in stablecoin adoption. Overall, industry recovery will take time, but the overall outlook remains positive. (Note: The recency effect refers to the psychological effect of a newly emerging stimulus influencing the formation of an impression.)