Crypto Finds Serious Falls in 2022; IRL Crypto Analysis
- Crypto IRL raised the question regarding the huge loss suffered by the crypto market.
- The series host asked if the crypto space owes anyone an apology.
- The eight episodes of the series would focus on the details of the crypto winter.
The first episode of Crypto IRL, a new Bloomberg Quicktake series, addressed the question of whether the crypto space owes anyone an apology after the whopping $2 trillion loss.
Over the past few months, the digital asset industry has seen great losses and bankruptcies. As a result, it was revealed that there was a $2 trillion drop in its market value.
While addressing this question, Meltem Demirors, Chief Strategy Officer at CoinShares, said:
I think some executives of some companies that have lost millions, tens of millions, billions of dollars of consumer funds, they certainly have some explaining to do, and I think they will be held accountable.
Although the crypto world saw its highest gains in 2021, it flopped in 2022, hitting the biggest drop of $2 trillion. In November 2021, the crypto made a gain of $3 trillion. In one year, the market fell by more than 60%.
One-year market capitalization of cryptocurrency
Over the past few months, the crypto market has been caught in the grip of a harsh crypto winter, where almost every currency suffered huge losses.
The world’s first digital currency was trading with the lowest price in a few weeks, below $18,000, almost 60% down. Similarly, altcoins had also shown huge declines.
In the midst of crypto winter, Crypto IRL tries to focus on the past, present, and future of crypto, especially the crypto corrective period. The demisters felt there could be more pain ahead as crypto mining companies struggle to stay afloat with falling coin prices and rising energy costs.
Crypto Post Finds Severe Falls in 2022; IRL Crypto Analytics appeared first on Coin Edition.