Check out CoinMetro CEO Kevin Murcko's thoughts on the current state of the market: Bitcoin: World's largest cryptocurrency takes a diveSo what is behind the crypto crash? Kevin Murcko, CEO of crypto exchange CoinMetro, told Euronews that Bitcoin's peak price was always destined to drop.
"All cryptos are nascent assets; speculation, rather than the usefulness of the technology or the underlying asset, is what’s mostly been driving price movement since its inception.
"Fuelled by media hype and the conviction amongst the public that crypto was a way to get-rich-quick, the asset class rocketed from almost nothing to over $800 billion at its peak. That price point, quite obviously, was unsustainable," he said.
He explained that we are now seeing the fallout of a bubble driven almost entirely by financial speculation, rather than the quality or usefulness of the underlying technology.
"Dumb money brought the crypto boom, and dumb money is to blame for the crypto crash. This sell-off was long overdue and is almost certainly not the conclusion to this bearish market," he added. What do you think? Come join the conversation on CoinMetro's Telegram Group!
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ICYMI Click to read the article. Here's a quote from the article: "The undeniable truth is that blockchain is here to stay; however, blockchain is still in its early stages. It could be that some of the applications mentioned above fail, but if you could go back to the early 1990s and make a bet on the Internet, what kind of bet would you make? It’s taken the Internet how many years to unfold? Blockchain is not that much different." If you have any questions about BANKEX, make sure to visit the Official Telegram Group.
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If you have any questions about Bancor, you can join the Official Telegram Group to ask in the team's robust community! And if you run into any issues while using the Bancor app, please feel free to ask in the dedicated Support Page!
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ICYMI: Codex and Tagsmart Announce a New Partnership for Trusted Art
Here's an excerpt from the article: "Tagsmart Connect enables artists, galleries, estates and auction houses to submit trusted artwork data directly to online retailers. By adding Codex, within the same service and with a single click, they will also be able to submit that information directly to the Codex blockchain, a global immutable registry for valuable collectibles." If you have any questions about Codex, please visit the Official Telegram Group.
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Are you a developer? Interested in code? Make sure to visit Cardstack's Github for all sorts of goodies!
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