TALK ABOUT TRANSITIONS AND EVOLUTION IN THE CRYPTOCURRENCY INDUSTRY

Greetings and welcome dear readers, back with the topics of economic interest associated with the cryptographic world, this time we will do a tour about the behavior of the market in general and especially the blockchain and cryptocurrencies.

So this tour will start with the transitions or evolution although for many stumbles that occurred in the year 2022, which was full of ups and downs in the price action of cryptocurrencies, although we all know that it was a scenario where the decline and the downward push was the one that prevailed, thus generating substantial economic losses in those overleveraged investors and especially in those who bet on a Bitcoin above 100k.

Consequently, from 2022 onwards, certain irregularities began to be noticed that called into question the transparency of the cryptocurrency industry, hence it is impossible to forget the collapse of the Anchor protocol where losses of over 19 billion dollars were generated, in addition to the destruction of the Terra luna project and how can we forget the depreciation that has recently occurred with the FTX project.

In addition to the above adverse scenarios, there were situations that in a certain way are projected towards improvements in the industry in general, for example the merger that took place in the Ethereum network, which has been spearheaded to improve security, speed, efficiency and transparency in these protocols. However, it should be noted that this merger did not generate the projected impact on the price of the second most important cryptographic asset, referring to Ethereum.

So that beyond the above, we can observe that the year 2022 in a certain way will be of some benefit to society in general, since cryptocurrencies have become popular at that time and continue to be a strong and consistent alternative to alleviate the inflationary processes that afflict the population, A scenario that we can see extended to Latin America, where people continue to believe in the crypto market and decentralized finance as an infrastructure that allows fighting from the deepest level with the loss of capital translated to the inflationary process that are experienced in countries like Argentina and Venezuela for example.

In such a way that the year 2022 was a year of learning, where it is necessary to continue training and instructing ourselves in the process that allows the development of cryptocurrencies in general, which is why we continue to see the need to convey greater transparency and this is achieved by assuming regulatory processes, since scenarios such as FTX can not continue to be repeated and although many of us do not like it, it is inevitable that the cryptocurrency market is adjusted to a process of local and international regulation in order to increase its transparency, as well as to promote respect for each of the services offered through this new economic model that has arrived as a solid alternative to the traditional economy.

Thus, the year 2022 allowed us to learn and correct the mistakes made, a process that is assumed as positive for the projections of the year 2023, where undoubtedly the growth of cryptocurrencies will depend on the organic growth of supply and demand, which will be driven through new technological developments that allow projecting new and innovative products associated with the blockchain and decentralized finance, which will generate a greater demand and expansion to this new economic model in which we are transiting.

Hence the need to improve relationships and experiences with users by assuming products that are designed for the welfare of the customer so that this impact generates a real sustained growth throughout decentralized finance.