New Year, new controversies on crypto exchange platforms

For some time, there have been controversies regarding the use of cryptocurrencies because they are not controlled by any government or banking entity because they have been linked to illegal activities such as money laundering and drug trafficking.

As the days go by, new occurrences arise around digital assets, just like the crypto market, which has been involved in difficult circumstances since all this caused falls in the values of cryptocurrencies.

Despite all these drawbacks, digital currencies have struggled to remain liked and demanded by all investors and traders who make a living in the market. For more information, visit Immediate Bitcoin.

Overview of the crypto world and the means of exchange:
When the different exchange platforms fall and break, digital assets lose interest and demand since their value is very volatile, and for some time, it has only been with bearish trends.

The cryptocurrency that has stood out the most and prevailed despite the difficult situation they have suffered in general is Bitcoin, maintaining its market capitalization, thus favoring the number of transactions and investments made by traders and investors who hold their loyalty to this legend of the digital economy.

Bitcoin has reached the bottom with its falls in its value, registering drops of more than 70% of its cost, about its most recent maximum recorded, which shows the challenging stage that the currency market has experienced in digital assets.

The crypto winter begins to be considered past:
Last year was one of significant instability and loss for the digital financial market, causing significant effects on all existing exchange platforms and even leaving some of them bankrupt, starting with Terra Luna, which was the first to fall at the beginning of last year.

During the existence of cryptocurrencies, we have been able to appreciate that there have been several seasons where the market has faltered but, in turn, has recovered on all occasions, despite the sharp falls in the molars of digital assets; this causes many consequences in the population that makes a living in the cryptographic world.

The fall of the FTX platform is a situation that has devastated the balance of the cryptographic environment because it was seen as a solvent and stable platform concerning the activities it carried out.

Investors and traders withdraw their capital from the crypto medium:
The failure of the FTX platform has affected many others, which have been affected, such as the case of Binance, which is considered the largest in the world of cryptocurrencies, for having announced its collaboration to save FTX from bankruptcy.

From that moment on, withdrawals for USDC stablecoin were paralyzed due to being in a token exchange situation, finishing normalizing shortly after taking this measure.

Only the options of the BUSD and USDT Tokens to carry out operations, respectively, were in process within the platform as a measure to prevent the market from collapsing during the exchange of the same.

According to Zhao Changpeng, CEO of Binance, this initiative was implemented due to the uncontrolled increase in USDC withdrawals since its value was tied to the US dollar.

This responsibility that Binance has adopted to save the FTX platform must occur through the participation of a representative financial entity, possibly a bank, through which the pertinent negotiations are carried out by the most traditional means in a relative time.

What keeps the cryptocurrency market stagnant now is the sharp fall of the FTX platform, preventing development and stabilization, presuming that if it continues like this, the Binance platform may experience unfavorable situations.

Conclusion:
Despite the bad experiences that have been experienced in the digital asset market this year, new expectations and opportunities will come for the revaluation and demand of cryptocurrencies in general.

Bitcoin has already made a breakthrough that favours and strengthens the trust and demand of users until it has spread to the world of cryptocurrencies in general.

It is possible that, during 2023, bitcoin manages to significantly increase its value and could reach its historical maximum again, which would lead the digital financial economy to fully take over the world market, providing insurmountable benefits for a good period, since volatility has always been present.