at $3,400 and at $100, how the crypto winter feels like a weight. In 2019 it isn’t just “crypto” that’s a bad word, it’s even as well.
It’s a rag tag banking mafia proclaiming the death of crypto exchanges, and this is how it looks on Twitter:
The crypto priests vs. the banking evangelists . Lack of liquidity huh? exchange Liqui, ranked 181st by 24 hour volume on Coinmarketcap, is shutting down. This makes it the first exchange to go down in 2019
If every few days, that some Crypto Exchanges would go under in the crypto winter should not surprise is, it’s all business. The use case of , the scalability of dApps, the alternative value of digital assets, the consumer of — well, we have a ways to go.
Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services.
What was the economic point of ICOs and airdrops again? To build community? To foster innovation? To see who is the last man standing?
If only the was a more aggressive and responsible regulator, we might see the startups that have true viability left. No all are built equally. Not all startups are working on actual products, same old story.
Here is the list of a few crypto exchanges that announced their shutdown since the beginning of 2018:
- Mr. Exchange: Japan-based crypto exchange announced cease-and-desist citing regulatory concerns.
- Tokyo GateWay: Another Japanese exchange that withdrew its application with Financial Services Agency
- ZebPay: India’s premier crypto exchange closed operations after the Reserve Bank of India (RBI) cut their banking links.
- BTCX India and ETHEX India: Other Indian exchanges which opted to shut its door after RBI’s anti-bitcoin stance.
- BitGrail: Italian crypto exchange forced to close down operations after three hours of launch. They blamed a court order.
- 1Broker: US-based crypto trading platform announced closer after SEC crackdown.
- Cryptopia: New Zealand-based crypto-to-crypto exchange discontinued operations after claiming that it got hacked.
As stock markets and stocks bounce back, so too should crypto. Though it’s not clear what will drive it or the objective measures that crypto market prices are actually tethered to besides sentiment and some mysterious demand for it.
Liqui, a small but a long-running crypto company in the Ukraine said its exchange was unable to provide liquidity to its . If you go broke after a little hardship perhaps you aren’t a legit startup. If you weren’t running lean all the while, you might be taking your last breath.
More Crypto Exchanges, crypto hedge funds, and bockchain startups are expected to rage quit in 2019.
Published at Wed, 30 Jan 2019 13:17:19 +0000
