Categories: Tech

The collapse of Bitcoin, Ethereum and all that is blockchain continues

Everything that has to do with the blockchain is tending to do well. The value of NFT, BitcoinEthereum, Dogecoin and many counterparts are fallen victim to a sudden collapsewith the result that several cryptocurrencies are get back to the value they had before the industry boom. Still others have instead touched zero.

Moon to Earth, the war and the collapse that reverberates on Bitcoin

The factors that can justify this powerful negative peak are many: the natural volatility of the sector, the increasingly theatrical presence of theft and fraud, the economic uncertainty due to the war in Ukraine, the annihilation of Luna and its stablecoin Earth. The fact remains that all major blockchain coins stand regressing to their 2020 valuesor rather the period in which the sector had not won the attention and speculative aims of the masses.

The result is that we are experiencing an emergency period in which investment funds and cryptocurrency companies are literally blocking flows of money they hold, which certainly does not make end users happy, who would perhaps like to withdraw the sums deposited in view of a possible definitive crack of the crypto ecosystem. Which, paradoxically, would only add fuel to the fire of an already shaky market, to be honest.

Even worse are the non-fungible tokens faring. After the exorbitant growth of September 2021, blockchain collectibles have plummeted in an evident and notable way, especially in the field of primary sales. Jack Dorsey’s first tweet, for example, suffered a depreciation of nearly $ 2.9 billion, a downward trend that affects several entities in the industry. In this sense, some artists are starting to feel mortified by having their fans involved in a mercantile system that they now, in hindsight, consider limp and dangerous.

Published by
Walker Ronnie

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