Belem.cc exchange – 2022 Crypto Market Review
Under the complex background of the outbreak of the Russia-Ukraine war, inflation in the United States and the spread of the epidemic, cryptocurrency has experienced a number of major crisis events such as lightning incidents and frequent hacking attacks. The total market value has evaporated by more than $2 trillion compared with the beginning of 2022, and the industry is more difficult.
This article will review the big events in the crypto industry in 2022, draw lessons and experience from them, and look forward to the crypto spring of 2023.
1. Cryptocurrency wars amid the Russia-Ukraine conflict
Early in the conflict, the Ukrainian government posted a message on Twitter asking donors to donate BTC, ETH and USDT, and eventually received nearly $100 million in cryptocurrency donations from around the world in what has been dubbed the “world’s first cryptocurrency war.”
2. Over $600 million stolen from Ronin
In March 2022, Axie Infinity side chain Ronin issued an alert that 173,600 ETH and 25.5 million USDC from Ronin Bridge had been stolen, resulting in a loss of more than $600 million at that time’s prices.
3. Ethereum merge is successful
The merge was completed on September 15 last year, shifting Ethereum’s consensus mechanism from proof of work (PoW) to proof of stake (PoS). Thereafter, the Ethereum blockchain will not only be more scalable, but will also be more energy efficient.
4.FTX Thunderstorm triggered a Lehman moment in the coin circle
FTX’s thunderstorm was one of the worst accidents of 2022. It took less than ten days from November’s revelation that SBF had as much as $6.112 billion in FTX-issued FTT tokens on its balance sheet to the start of bankruptcy proceedings. The incident has a huge scope, not only Sequoia Capital, SoftBank and other well-known institutions were damaged, according to statistics, the number of creditors affected may exceed one million.
5. Traditional institutions experiment with NFTS
Last November, Nike announced on its website that it was launching a new Web3 platform, Swoosh, where community members can mint and trade their own NFTS. In addition to sports brands represented by Nike, there are social platforms such as Twitter, Instagram and TikTok, and even car brands such as Ferrari, which is enough evidence that more traditional organizations are trying to empower their businesses through Web3 to achieve more profit.
If one word summed up 2022 for cryptocurrencies, it would undoubtedly be “volatile.” But cryptocurrencies have survived the turmoil. And from the market point of view, the performance of digital currency is still worth looking forward to. In the new currency transaction analysis module of Belem.cc website, we can see that Bonk, the new dogecoin on Solana, has risen since its launch amid the skepticism of many people. It rose nearly 200% in 24 hours on January 5, and Bonk rose nearly 40 times at its highest.
When we query Bonk’s data, we also see a very bright existence – Fund Lending (DFN). The cryptocurrency trading chart showed DFN up more than 75%, beating 95% of the coins over the same period, and continued to rise in real-time trading. DFN’s outperformance in such a volatile time for cryptocurrencies is a cryptocurrency dark horse.
Upon investigation, we found that DFN, a comprehensive crypto asset trading platform called Belem Exchange, was launched on December 27, 2022. On the official website of Belem.cc, we can see the introduction of DFN by Belem Exchange. “In response to the stabilization of the world economy, Belem Exchange specially releases DFN. DFN is an open source platform based on decentralized lending protocol technology, which can provide users with deposit and loan services. Users can have more funds to broaden their crypto asset trading path and gain more wealth.” Belem Exchange then opened a special session for DFN. (More information can be found at Belem.cc.)
From the launch of DFN and the official statement of belem.cc, we can see two things: first, DFN does have great potential, and second, Belem Exchange has a very sharp vision of currency. After in-depth investigation, we found that Belem Exchange is also very strong, currently the company is present in 120 countries around the world, serving more than 8 million users around the world, and Belem’s founders and technical team are also very strong, the core members are early crypto asset investors, Most of the technical team comes from Google, Oracle, Citi and other top 500 Internet finance venture capital enterprises, with rich experience.
At belem.cc we also found that the Belem Exchange has issued far more premium coins than DFN. On December 6th last year, Belem Exchange also launched HTO (Healthcare Technology). According to Belem.cc, HTO is a concept coin for the healthcare industry and Internet smart healthcare. It is currently up more than 85% and has great potential for appreciation.
We acknowledge that 2022 is an extremely difficult year for cryptocurrencies, but despite the difficulties, the market has also sent some positive signals, such as the historical moment of Ethereum merger, the testing of traditional institutions, and even the existence of high-quality coins such as DFN and HOT, which have given the crypto industry great confidence.
The uncertainty will not go away, but a positive shift has taken place. We believe that the cryptocurrency market will recover in 2023 and be more resilient than ever, and that platforms like Belem Exchange, with a long-term view and a sustainable business philosophy, will continue to innovate to embrace opportunities in the environment, leap onto the international stage, and ride to a more stable future with global investors.