Binance recently investigated why all the coins on the market lost value. The study examined both the direct issues that led to the drop and the issues already present in the field. The market looks better now after a big drop, but it is still 14% below its high point in March.
According to the Binance report, all cryptocurrencies lost 11.4% of their value in June. Deutsche Bundesbank and the US government both told people to sell their Bitcoin when the price went down. They sold 50,000 BTC stolen from Movie2k, which owned the website.
The shares were sold in groups from June 19 to July 12. This market was hurt by the US government’s decision to acquire 3,940 BTC on June 26 and Mt. Gox’s plan to repay debts with Bitcoin and Bitcoin Cash on July 5.
In addition to these important problems, the Binance study shows that the crypto market is broken and needs to be fixed. A way to study the market was created: “Capital, People, and Technology (CPT).” Capital coming into this system went down steadily but slowly.
Binance Study Increasing Crypto Competition.
When it comes to making money in the crypto market, there is now more competition. With more people in the market, things could go wrong. Some things that might change are the amount of stablecoins that are available and how easy it is to trade on platforms.
It looks at several good trends that could help the crypto market get back on track and even hit or beat the March high point. It’s possible that the crypto market will get better as interest rates go down and prices drop more slowly.
The market might get better over time if more money is invested. From July 23, Ethereum exchange-traded funds (ETFs) can be bought and sold on all the big exchanges. Now that this deal is big, there are likely more stablecoins out there, which could bring more money to the market.
Binance did a study that says the crypto market could improve if the economy as a whole got smarter and more money came in. People who are interested in the market will pay close attention to these events. They hope that things will get better and safer in the months to come.
