Was 2022 a good year to invest in cryptocurrency?
As 2022 draws to a close, analysts are looking at whether the cryptocurrency sector made the gains it expected
From the collapse of FTX, to several exchanges filing for bankruptcy; 2022 was a brutal year for the crypto market.
Major coins slumped in value, and analyst’s expectations were shut down.
CryptoPresales.com found Solana and Polkadot remained the biggest crypto price losers.
Prices fell by 92 and 82 per cent, respectively.
However, Cardano, Shiba Inu and Polygon all suffered major losses. In fact, the global cryptocurrency market dropped $1.9 trillion since November 2021.
Solana’s 92 per cent price drop has wiped over $48 billion of its market cap year-to-date.
Polkadot follows with an 82 per cent and Cardano was slashed by 79 per cent since January.
The world’s largest cryptocurrency, Bitcoin, managed to avoid most of the pain seen elsewhere.
However, the digital coin experienced its seventh-largest price drop in the crypto space, which is one spot behind its competitor, Ethereum.
Bitcoin’s price tumbled 63 per cent this year, while Ethereum saw a 67 per cent year-to-date price drop.
What performed well?
Cryptocurrency exchange Coinbase witnessed sustained growth among verified users.
The exchange has been operating in an extended bear market. But the platform has seen users flocking amid the prevailing market conditions.
In fact, Coinbase reportedly added 19 million verified users globally between 31 December 2021, and 30 September 2022.
This amounts to a growth rate of 21.35 per cent, according to reports from Finbold.
“Although Coinbase is currently operating in an environment of market sell-offs, the exchange’s ability to record a steady growth of verified users can be attributed to several factors like the trading platform’s business model,
“Indeed, the exchange is touted to have an innovative marketing strategy that entails factors like referral programs and unique features such as enabling users to send crypto as gifts.”
Coinbase’s global market share hit 3 per cent in December 2022.
Is the metaverse the future of social network?
U.S. firms like Meta, the parent company of Facebook and Microsoft are going all in on the metaverse. Meanwhile, Chinese companies appear to be taking a more cautious approach amid tighter regulation.
#metaverse #china #unitedstates #tech #veronicadudo #ozsultan #crypto
Who will win the global metaverse race?
China is looking to invest in the metaverse market as numerous cities rollout policy proposals.
Technology continues to change our lives forever.
As new advancements are released to the public—safety continues to be a major concern.
People are interacting with computers in a different way, with the word Metaverse becoming a buzzword in both the tech and business industries.
While the term, “metaverse” is broad, it refers to a set of digital spaces online—including 3D—that allows people to do many things from socializing and learning to interacting and collaborating.
Analysts say it’s the next evolution in social connection and the successor to the mobile internet.
According to Morgan Stanley, the metaverse market could be worth $8 trillion in the future.
China’s technology giants are investing in the metavese and recently, numerous Chinese cities have announced policy proposals to attract and support metaverse companies.
This comes after tense year of regulatory scrutiny on the countries tech sector.
The Chinese city of Zhengzhou recently announced a series of policy proposals to support metaverse companies operating in the region.
The initiative involves the municipal government establishing a nearly $1.5 billion dedicated fund in an effort to foster growth and development in the industry.
So, is the metaverse taking the world by storm?
Oz Sultan from the Sultan Interactive Group joins us to discuss. #china #metaverse #veronicadudo #ozsultan #regulation #crypto #tech
North Korean hacker groups steal billions in crypto assets
G7 finance ministers are supporting measures to counter growing threats in the crypto space
Hacker groups associated with North Korea have stolen over $700 million worth of crypto assets since 2017 from Japanese firms and businesses.
The amount equates to 30 per cent of the total of such losses globally.
This comes on the back of G7 finance ministers supporting measures to counter growing threats.
In total, hackers has stolen a total of $2.3 billion in cryptocurrency from businesses between 2017 and 2022.
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