A BLOG ABOUT THE CRYPTO MARKET
What's Going On In The World Of Cryptocurrency Exchanges After Recent News Headlines?
Cryptocurency exchanges are getting run through these days. In recent months, you have hacks happening, and you have digital currencies on the downfall. Let's not paint a doom and gloom situation here, however, as there is a brighter side to the story. It's just that right when cryptos starting becoming more popular and more exchanges were being released, the hammer seems to have come down and has landed with a bang.
You saw the recent Bitcoin BTC drop, right? It sent the digital currency market into an uproar, and people have all kinds of things to say. It's not like BTC is the only crypto free falling at the moment either. The volatility of this market has some of the new exchanges sitting around twiddling their thumbs like an oceanfront hotel owner during the off-season.
About a year ago, cryptocurrency exchanges couldn't be built quickly enough. It was an if you build it, they will come Field of Dreams type of mentality. The die-hard crypto fans aren't giving up hope, but the market has taken a whooping for sure. I mean, is Bitcoin going to enjoy being part of the January Effect, or are digital currencies as a whole going to see an even larger correction?
If there is an even larger correction, you're going to see many of these new exchanges fall by the wayside. That doesn't mean, however, that cryptocurrency exchanges won't continue to evolve. They will get better and better, enhancing safety and security in the process.
The leading exchanges will continue to thrive, at least that's what it looks like.
Take a look at Coinbase, and you wouldn't think that company is going to be nose diving anytime soon. Even one of the cheapest cryptos on the market has a strong following and developers rushing to finish off the building of an important bridge. Coinbase as an exchange
has had some important announcements in recent months, too.
Then you have exchanges like Binance. While still relatively new, Binance has built a good standing within the crypto community. While digital currencies have been the subject of doom and gloom talks here lately, it's usually never what it looks like in the investment world. I'm not saying it can't be what it looks like to a certain extent, but usually the news is all too short-sighted to be spot on for the duration. You can expect new exchanges, and you can expect at some point for there to be new and exciting news in the crypto world.