year 2022 cryptocurrency It hasn’t been a good year for the industry and has hosted a series of events caused by a massive drop in overall valuation. However, the recent major collapse of the Terra ecosystem has raised questions and issues regarding the reliability and future of other crypto assets. This collapse caused the regulators around the world to take action and take the necessary precautions.
Will the Crypto Market Continue to Crash?
The last bulletin published by the World Economic Forum (WEF) was quite different from the last bulletin published in 2020. However, discussions about cryptocurrency continue to run the conference for different reasons. According to the data, more than 19,000 crypto tokens are traded on different exchanges worldwide. The fact that the number is so large and the negative atmosphere is quite strong raises concerns. Notables in the industry also think that the current situation in the markets is quite uncertain.
According to a report by CNBC, in the near future, many crypto projects that exist now may no longer exist. On the other hand, since the bear market can have an impact on stablecoins, the number of people who think that there is no ‘safe haven’ has increased considerably.
CEO of Ripple Brad Garlinghousethinks that there will be very few projects left in the upcoming period. We no longer need so many projects and tokens. Of course, we need to underline that the ongoing lawsuit of the Ripple company, of which he is the CEO, with the SEC may be quite critical for the crypto world. The CEO’s views may change radically, perhaps with his company winning the lawsuit.
Could a Bear Market Actually Be a Good Thing?
Bertrand Perez, president of the Web3 foundation, compared the current state of the market to the early internet era. He mentioned that there was a lot of fraudulent activity at that time and many things did not bring any value to the market. Perez added that we are in a bear market and that is good. A bear market will clean up maliciously existing or poor quality projects in the market.
Circle CEO Jeremy Allaire TerraUSDHe thinks that the collapse of . This will help people identify well regulated and fully supported tokens.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.