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This year has been marked as an unlucky year for the crypto market. Investors and cryptocurrency users have faced the worst bear market in months with the sudden collapse of FTX, Terra and the Celsius Network. Over a million investors lost their savings in the sudden collapse of FTX.
Bitcoin, the leading cryptocurrency and other cryptocurrencies, experienced a slight slowdown in price growth at the end of 2022. According to CoinMarketCap, the crypto market is trading at a reasonable growth rate despite the impending global recession following the Federal Reserve rate hike. Bitcoin is trading at $16,557 at the time of writing, down 1.60% in a week.
The Worst Cryptocurrency Will Crash In 2022
In June 2022, in accordance with the crypto market terms of service, Celsius has been frozen and stopped withdrawing users.
These filing-locked assets may not be backed by stakeholders or “may fall short of some custody programs and suspended account holders,” Celsius said. .
The fall of FTX has had a major impact on the cryptocurrency market, causing high levels of suspicion and fear among cryptocurrency investors and users. An investor fears moving into crypto after facing huge losses in his recent FTX collapse.
On November 11th, the biggest crash in the cryptocurrency market happened. FTX, the world’s second largest cryptocurrency exchange platform worth $32 billion (USD), has faced a sudden drop in the cryptocurrency market. FTX filed for Chapter 11 bankruptcy,
Why Crypto Gamers Axie Infinity and The Sandbox Lost in 2022
Metaverse adoption has slowed this year. The cryptocurrency market is flooded with cyberattacks, scams, and bankruptcies, with the popular NFT-based online game Axie Infinity (AXS) and Ethereum-based metaverse gaming platform The Sandbox (SAND) having a minor impact.
The most popular and successful cryptocurrency game, Axie Infinity, a monster battlefield game based on Ethereum mainnet, collapsed in March 2022 after the Lazras Group hacked $622 million worth of cryptocurrency. did. This DeFi platform of his will be one of the most affected by cyberattacks in 2022. Users complained about the low production value of the Axie Infinity.
The popular crypto game The Sandbox (SAND) is currently in trouble. Over the past 24 hours, the sandbox is down 1.5% on him with a trading volume of $91,401,574. The sandbox hit an all-time high of $8.38 during the 2021 crypto market explosion. After a few months, the price slowly started to drop.
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