Crypto, like any other market, is known through the kind of story shared about it in the mainstream media. For a long while, there has been a negative narrative in mainstream media of what crypto is about. People cannot truly tell what is wrong and what is right.
In 2022, a newer scenario played out. The collapse of FTX and Luna were two incidents that attracted huge attention to crypto media, the importance of the industry , and the essence of having a strong and truthful representation in the mainstream.
Crypto media is bigger than pumps and dumps
According to a CMC report, crypto coverage has gone further than simple market pieces on the performance of Bitcoin and other assets in the industry. For each coverage made about crypto, there are now more connections between what is happening in crypto and its reflection or impact on the traditional market, the U.S. government, foreign governments, hackers and beyond.
CMC added that moving into 2023, “the mainstream media will now find it necessary to include the crypto beat”. The story about the crypto industry needs to be shared truthfully, and no one can do it better than the crypto media. It’s the pain the mainstream media has to grapple with as what was seen as an insignificant part of the global economic space has grown to become a major force in economics.
Crypto journalists, researchers, and organizations like the ACJR (Association of Cryptocurrency Journalists and Researchers) are and will be at the forefront “to help mainstream media better understand how to cover cryptocurrency and all of its idiosyncrasies,” CMC added.
Crypto users are wiser, better equipped
One of the excesses in the crypto market is the proliferation of numerous projects and ideas that makes it hard to spot bad and fraudulent projects. While all of these have come and the bear market washes the debris of wrong projects, today’s crypto users are more equipped to face the market than before.
CMC explained in a report that these users now have access to “analytical tools and resources at their disposal in comparison with previous crypto cycles”. Such tools include CoinMarketCap, and Nansen Pro making the current crypto user better informed.
Another tool mentioned is the social media community and communications that transcend distance where people around the world share ideas concerning projects.
As the next bull run is approaching, the tools mentioned above with emphasis on Nansen can help crypto users understand the future of the industry.