Cryptocurrencies: Have they bottomed out?

Tiger_AU
2022-12-14
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Hey Aussie,

The crypto industry remains mired in a deep downturn after a $US2 trillion rout in digital assets over the past year. The slide has been pockmarked with a series of blowups of which FTX, once valued at $US32 billion, was perhaps the most damaging.

Binance Holdings, the dominant cryptocurrency exchange, has been hit by large outflows as traders move to take custody of their tokens amid revelations that rival FTX may have misused customer funds before its November implosion.

Net outflows of digital tokens from Binance amounted to about $US3.7 billion ($5.4 billion) in the past week, including almost $US2 billion in the last 24 hours, according to data from research firm Nansen as of 9.20am on Tuesday in London.

What do you think about cryptocurrencies？

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Please leave a message in the comments section of this post, and share your insights about crypto industry. 💸💸

  • What is the current state of cryptocurrency? Have they bottomed out?
  • What do you think will be the future trend in cryptocurrencies?

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⏰Activity Duration

14 December 2022-21 December, 2022

Focus on FTX Bankruptcy
How did a company valued at $32 billion go bankrupt almost overnight?
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Comments

  • LMSunshine
    2022-12-14
    LMSunshine
    Win 100 Tiger-coins
    Thanks @Tiger_AU for yet another interesting discussion topic❣️I think that Crypto is still very unstable at the moment and may face further downward pressure as the FTX saga is still very fresh in investors’ minds. Moreover a lot of Aussies lost money in Crypto. Investors are very cautious now especially because of worrying signs for recession in Europs and possibly US. I‘m short-term bearish🐻 for Crypto but it might come back to popularity once again. Thanks @Jadenkho for tagging to share with all of us🥰
  • Frisbee
    2022-12-15
    Frisbee
    Win 100 Tiger-coins
    儘管我們看到今年加密的前景急劇下滑，但加密貨幣肯定仍然是未來，因爲它們提供了太多的好處，不能一筆勾銷。通過繞過銀行和其他中央金融機構，加密貨幣提供了更大的金融包容性和可訪問性——任何擁有設備的人都可以在幾秒鐘內創建加密貨幣錢包，而不需要ID或良好的信用評分。由於區塊鏈的分散性質，加密提供了增強的安全性和隱私性。降低交易成本是另一個好處。雖然你可能需要爲銀行提供的電匯支付一大筆錢，但你可以使用crypto在幾秒鐘內將錢轉移到世界各地，而成本只是它的一小部分。 @deal2deal
  • Hayz
    2022-12-15
    Hayz
    Win 100 Tiger-coins
    Cryptos are in WINTER now.  It is because of the multiple failures (centralised "crypto companies" and leverages are the main cause).  Bad actors....  Crypto may bottom only after the various stock exchanges stabilise, but I think it is near.
    The future of crypto is bright with the young generation growing up with it!  Use cases are plenty (which is why the respective incumbents will defend at all cost).  Blockchain, web3 all coming... watching how Elon gonna do the Twitter jigsaw and if he is successful, full speed ahead!
  • fxaw
    2022-12-15
    fxaw
    Win 100 Tiger-coins
    I do not understand why do you believe cryptocurrency, except you just want to take the early profit and go away.
    If a country's currency can be attacked by Soros, what do you think the safety level of the cryptocurrency?
    For the other point, you want to be free from the world's order but you actually will be reigned by the whales (which probably worse than the world leaders).
  • Velkh
    2022-12-16
    Velkh
    Win 100 Tiger-coins
    Well, as for the crypto, I am more than sure that it will take a while until we accept it as something reliable. I know that people will start fighting for bitcoin and stuff, but I am still sure that we won't see it as a normal currency because its volatility and risks of getting simply banned by the government. The reacent situation with FTX doesn't help much to bring popularity and stability to crypto coins eather.
  • Lawrence tot
    2022-12-16
    Lawrence tot
    Win 100 Tiger-coins
    我全部抛售了，加密货币可能回暖，但即使回暖也不能产生像以前那样百倍暴增的机会，是时候冷静观察
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