Author: Stockmoney Lizards
Greetings dear readers ...!!!!!
Back with the content associated with decentralized finance, this time we will be addressing the scenario that has been occurring in the crypto market and that has generated heavy losses in users who have bet or opted for FTX as an exchange system for their cryptoassets.
At this point, it is necessary to remember that FTX is one of the most important exchanges in the crypto market, so much so that it was considered as the direct rival of the substantial company that Binance developers have managed to raise, however, in recent days there has been a great tension in the cryptocurrency market, since the time of lateralization has ended and the range generated has broken in the opposite direction to the interest of bullish investors.
Scenario that has arisen as a result of a leak of information that responds to the misuse that the Exchange FTX was doing with the assets of investors and users who bet their investments on it, which generated a large sale of investors, due to the fear generated and as a result of the scenario associated with the Terra luna project and other debacles that we all know.
Based on the above, at the chart level we have been able to perceive how the crypto market in general sank and fell by more than 25% in a matter of hours generating a great tide of blood that ended up liquidating positions of large, small and medium investors, assuming questionable losses that have caused a very thin line between trust and abuse in this type of blockchain investments.
However, according to the opinion of great analysts among which Stockmoney Lizards stand out, they mention that the downfall and sudden scenarios are normal in high-risk investments and for BTC this event is not isolated since in previous occasions it has been presented and the crypto market, has managed to recover and continue with much more strength.
So that history is full of these events, to mention a few, the hacking of Mt. Gox in 2013 generating heavy economic losses, likewise the Covid-19 crises and the hacking of Bitfinex where the tension was not long in coming, which shows that the current reality is no different from the past, since we have only changed to the present black swan, being FTX the great protagonist of the bloody market we are facing.
So we are talking about an issue related to the loss of confidence, hence the BTC circulating in exchanges have been shrinking and storing in cold wallets with losses of more than 50%, thus generating a BTC balance in Exchange at the lowest point since 2018.
Therefore, I dare to say that the hard part is not over yet and even more knowing the huge figures of money lost, so we are at a point of stagnation produced by a fundamental, such as the issue of inflation and other aspects associated with decentralized finance that has given a little bit of latent tranquility to the market in general.
OF INTEREST
