This is the Final Driver of the Crypto Bear Market Towards Mega Bull

The various updates and upgrades in the crypto industry seem to have had no effect as investors are still highlighting the consistent rise in US interest rates, suppressing the broad risk appetite.

However, Hoskinson, who is also a co-founder of Ethereum, sees signs that could be the end of the crypto winter.The End of the Crypto Bear Market

Based on the Daily Hodl report, Hoskinson has found what could possibly be the whistle to end the crypto winter, turning into a major rally in the crypto market.

“If the US government passes the Financial Innovation Act, the crypto market will start a mega bull run,” Hoskinson said.According to him, the law will stimulate large investors to enter the crypto industry, bringing more money to flood the market.

The law will also reduce the risk in investing in crypto assets, so that the regulatory concerns that have been holding investors back will fade away.For your information, the Financial Innovation Act is a regulation proposed by Republican Senator Cynthia Lummis to create a comprehensive regulatory framework. This has long been considered to have a great positive impact on the crypto industry.

However, Hoskinson underlined that the market could be even more bleak if people like US SEC Chair Gery Gensler were more trusted to regulate crypto. His actions have so far been considered less in favor of crypto assets.Cardano Now Threatens Ethereum

On the other hand, since Vasil Cardano's hard fork started, the network seems to be increasingly threatening its main competitor, Ethereum.

ZyCrypto reports, although Ethereum is now in a PoS consensus, Cardano, which has been PoS from the start, has become more attractive.Vasil brings the Cardano network to be faster, scalable and very low-cost. This is expected to attract more developers to build dApps on the Cardano network.

Apart from that, Vasil also brings improvements to the capabilities of its smart contract and developer language, Plutus.Reducing script execution fees and transaction sizes are Plutus's shining advantages, so many developers may be tempted to switch from other networks, including Ethereum.