The Nasdaq’s current configuration could also mark the start of a bullish recovery for the tech sector.
As far as cryptocurrencies are concerned, the FTX event may have occurred at the bear market’s most critical moment: when the signs of a true bullish recovery began to appear.
The frustration and fear caused by the fall of the international stock market could delay Bitcoin’s recovery.
In any case, for now, we have to wait for the price to break back above the former support zone (in red below).
π A NEW REGULATED STABLECOIN
USDA will be a fully fiat-backed stablecoin.
The latter must meet all legal requirements.
It will be the first stablecoin on the blockchain CardanoA stablecoin can act as a gateway between conventional markets and decentralized financial applications.
So new services for loans, loans and card payments in cryptocurrencies should come into this ecosystem.
Regulatory aspects will be managed through a partnership with a financial services company regulated in the United States.
π₯ $8 BILLION LEAVES EXCHANGES
BTC, ETH and stable currencies on exchanges have made their way: Binance, Kraken, Kucoin, OKX, etc.
These funds are now used directly on blockchains.
In this way, owners regain control over their assets.
In the past seven days, most decentralized finance (DeFi) apps have experienced double-digit user growth. Blockchain technology allows for all of these asset movements to be observed.
And currently, more than $8 billion has left the centralized exchanges (CEX) to join the decentralized exchanges (DEX).
π CRYPTOS MAY NEED TIME
The transfer of assets from CEX to DEX underscores the lack of user confidence following the recent events.
These large withdrawals could also destabilize the less solid platforms and lead to liquidity crises. Thus, at the end of the year, financial players may need time before they show a new interest in crypto projects.
It therefore seems wiser to wait until 2023 to consider swing and long-term operations in the world of cryptocurrencies.
Meanwhile, decentralized applications continue to grow and attract more users.
π¬ βNot acting is also acting. Β»
Good trade and see you soon,