Some Exchanges May Not Be Able to Go Through Crypto Winter
According to Bit.com, cryptocurrency exchanges with bank excess leverage will not be able to overcome the current bear market. Bit.com is the second-largest cryptocurrency exchange created as part of the unicorn Matrixport ecosystem and headquartered in Singapore, which offers on-site perpetual contracts, futures, options, and savings. The company, founded in 2019 by Jihan Wu and Bitmain, recently announced it would double its workforce; Despite large-scale dismissal, which is observed in the industry by others to take advantage of existing talent.
Zhang will speak this week at the 2022 European Blockchain Convention on the transition from Web2 to Web3; adjusting the market will lead to many companies falling behind. The cryptocurrency market is at an obvious turning point. Companies will either turn around and manage to survive the storm or suffer. The format of future crypto services will be a combination of Web2 and Web3. Exchanges should prioritize a customer-centric and chain-aggregated service approach. Those who still enjoy the extra leverage will not be able to overcome the cryptocurrency.
Both traditional and digital finance markets are in turmoil, With the ongoing conflict in Ukraine and significant market uncertainty. Chaos has destroyed more than $ 2 trillion worth of cryptocurrencies. Several institutions went bankrupt and retail investors lost their savings. When skepticism is at an all-time high, the general public has no confidence in those who believe they are responsible for their assets. As a result, many companies are now focusing on finding ways to maintain investor confidence.
$200 million Hikes for “Smart Exchange” for Unizen
A “smart exchange” that combines the most economical trading on both centralized and decentralized exchanges; Secured a $200 million capital increase commitment. Unizen, which operates at BNB Chain, aims to attract retail and institutional investors through the mix. A case of CEX is Binance, as long as Uniswap is DEX. Global Emerging Markets, a $3.4 billion private investment giant with offices in Paris, New York, and the Nassau Bahamas, provides long-term funding as the company reaches certain stages.
Unizen is also actively promoting innovation through ZenX Labs. CeDeFi Incubator, which supports decentralized projects; Enhances their growth through technical expertise and growth management and ensures its full compliance. Unizen Token owners are said to benefit from the development of incubated projects through DMAS. This allows the public to share rewards that reflect the long-term success of projects in incubation. The ZCX token is accessible on many exchanges. Including MEX, Kucoin, BitMart, Gate, and Uniswap.
Cryptocurrency – What to Expect
French MEP Aurore Lalucq called the country’s decision to grant Binance regulatory approval “surprising and disturbing” and called the French market regulator to reconsider its decision. Three Arrows Capital will meet consumer commitments before attempting to repay the loan. According to a Crypto Head study, cryptocurrency in the UK was one of the smallest annual increases in 2021, totaling 7%. However, victims still lost 4 204 million. Thirty-four thousand three hundred five references were recorded.
Classic Parade has released a cryptocurrency payment system for Bitcoin or Ethereum. Polygon co-founders Arcanum Capital and Sandeep Nailwal have invested $2.25 million in Lucidao to build Altr. Users will be able to purchase a collection of material luxuries, for example, such as rare cars and watches. Crypto.com mix Apple Pay into its website and app. Apple does not support direct payment. However, users can use crypto-in-app purchases via credit or debit card. Flowdesk has provided €28 million for digital asset infrastructure and trading platform. The company offers its solution to Web3 players, Including cryptocurrency token issuers.
Currency Prices
The market capitalization of the more than 20,000 coins is $932.9 billion, which has decreased by 2% in the last 24 hours. Market leader Bitcoin lost 2% to a total of $20,750. BTC reduces by 1% in one week. Ethereum fell 2% to about $1,185. ETH increases by 3% in one week.
BNB Token lost 1% to $234, which is why it increased by 5% in seven days. The ADA token fell 3% to 48 cents. In total, it decreased by 3% in one week. The XRP token was down 4%. SOL Token lost 6% to $37.79. However, it is 2% higher than its price a week ago. DOGE lost 8%. DOT Token lost up to $7.62, for a total of 4%. AVAX Token dropped 5%.
