New Delhi, Delhi Jan 10, 2023 (Issuewire.com) - Blockchain forms a big part of the wider used term Web 3.0. Most experts predict the internet to evolve into a more decentralized structure. Smart contracts based on blockchain will play a big role in the future. Cryptocurrencies are just one-use case of blockchain. The year 2022 has been a rough year for the crypto industry. Bitcoin has dropped 65% since the start of the year, while Luna suffered a total collapse in value. FTX’s implosion was the biggest downfall in 2022 so far.
To understand the current scenario of crypto better, let’s take a look at a classic example of how Exchanges of the world work and their shortcomings. FTX has been a legit crypto exchange platform and had a $32 billion valuation at the start of the year 2022. But FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. CEO Bankman-Fried admitted that the company did not have sufficient assets in reserve to meet customer demand. FTX halted all its cryptocurrency withdrawals after it ran into liquidity trouble. It was used by millions of users around the world. It was regulated by the Hong Kong financial authority. It enabled customers to trade digital currencies for other digital currencies or traditional money; it also had a native cryptocurrency known as FTT. FTX transferred hundreds of millions of dollars worth of cryptocurrency first to Alameda and then to the trading firm Genesis, which had served as a major lender to many crypto companies. FTX is a now-bankrupt company that was one of the world's largest cryptocurrency exchanges. The collapse has left an estimated 1 million creditors facing losses totaling billions of dollars.
BlockFi was the first to follow FTX into Bankruptcy. It had several ties to FTX and had relied on a $400 million FTX credit facility to stay afloat after competing crypto lenders Voyager Digital and Celsius Network went bankrupt as a result of market turbulence earlier in 2022. Another Crypto hedge fund Three Arrows Capital (3AC) was brought down by the collapse of Luna and TerraUSD in May this year. The meltdown wiped out $42 Billion of investor value.
CZ, the co-founder, and CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of July 2022, said he expected the industry to recover. "This year was a very nasty year, the last two months too much has happened. I think now we see the industry is healthier... just because FTX happened it does not mean that every other business is bad," he said.
In uncertain times like this, Tokenz Limited has presented itself as a safe and dependable Centralized Exchange. Tokenz (TKNZ) is the native coin of the Tokenz Exchange with a total supply of 500 million Tokens. The investors can take part in the Private Sale at 6 cents per TKNZ by visiting the website www.tokenzlimited.com. This is one of the most beneficial times to invest in the coin, as it’s expected to reach a much higher rate in the upcoming weeks and months of Public Sale.
There are some unique features akin to the exchange:
- “Spot Wallet Insurance” is a key feature that no exchange in the world offers. The user’s portfolio is guarded safe against the market’s ups & downs. A small fee is charged according to the duration of insurance and the amount to be insured. This feature beats any big and popular exchanges in the world.
- “3% of APR per month” is another important feature the exchange boosts, to keep its traders and investors interested. The investor is offered a .1% of APR per day or 36% annually.
Backed by the best heads and minds and celebrated names, Tokenz Limited brings a sense of trust and dependability in times of the world’s biggest exchange collapses. Ms. Rimmi Sen, Director at Tokenz Limited says “All Investors, big or small are important to us, and we are leaving no stone unturned, to keep our investors and traders safe, in volatile market situations.” Manu Prashant, Co-Director at Tokenz Limited has a vast experience in Cryptos and exchanges. He says “We understand the nuances and sentiments of unpredictability and volatility of crypto. We are steadfast in our motto of providing as much safety and the best returns on investments on the exchange. We urge more investors to join us to experience the never-before-seen features of a crypto exchange, firsthand, and decide for themselves.”
Analysts believe that crypto will replace fiat currencies in the next few years, disrupt contemporary financial systems, and revolutionize how we interact with money. Furthermore, it is predicted that the future of the cryptocurrency market could triple by 2030.
Media Contact
Tokenz Limited tokenzexchange@gmail.com http://www.tokenzlimited.com
