Over the past couple of weeks, the events that played out have led people to consider decentralized wallets and exchanges over their centralized counterparts.
The coins behind decentralized wallets and exchanges are rallying this week. Trust កាបូប (TWT) is up by 129%, GMX by 55%, and DYDX by 70% from the candle opening of Nov. 10, according to data from TradingView.
នេះ ធ្វីត from Changpeng Zhao, the CEO of Binance, about Trust Wallet acted as a catalyst for the rally of TWT.
មិនមែនជាកូនសោរបស់អ្នក មិនមែនជាកាក់របស់អ្នកទេ៖ ការដោះដូរប្រញាប់ប្រញាល់ដើម្បីការពារ FUD ខណៈដែលការរីករាលដាលភ័យខ្លាចកើនឡើង
វិច្ឆិកា 14, 2022
ម៉ោង 2 មុន
វិច្ឆិកា 14, 2022
ម៉ោង 3 មុន
The collapse of centralized exchanges.
The events related to FTX unfurled one after the other, eventually resulting in the FTX group declaring bankruptcy. Just when the crypto community believed it could not get worse, the FTX exchange suffered a $400 million hack. The community speculates that it was an inside job.
After the collapse of FTX, centralized exchanges were releasing their Proof of Reserves to promote transparency. During such releases, it was found that Crypto.com has Shiba Inu as 20% of its reserves. Before publishing their Proof of Reserves, the exchange ដក 210 million USDT from Binance and 50 million USDC from Circle. Apart from that, various other discoveries led to a 50% tank in the price of CRO, the native token of Crypto.com.
Crypto.com is also one of the sponsors for the upcoming FIFA World Cup 2022, just like FTX, who spent millions of dollars sponsoring sports events.
Transition from centralization to decentralized services
ក្នុងអំឡុងពេលទីផ្សារគោ។ users preferred centralized exchanges over decentralized ones because of the easy User Interface (UI) and convenience. They found DEX មិនអាចប្រើបាន due to various complexity present.
The collapse of various centralized exchanges over 2022 has now led users to transition to their decentralized counterparts. There is a realization of the importance of ការថែរក្សាខ្លួនឯង, and the popular crypto phrase, “Not your keys, not your crypto,” says it all. Notable crypto influencers are urging to get the cryptos off the exchanges.
There is also a recent spike in the search term ‘crypto wallets’ according to data from Google Trends.
TWT price-action
TWT formed a clear cup and handle pattern in the weekly timeframe before the breakout. The coin that has been pumping from Nov 10, when Binance បានប្រកាស not to pursue the FTX breakdown, finally breached the neckline at $1.2327 on Nov 12. It is trading at an all-time high now.
TWT will face immediate resistance at $2.6427, which is 2 Fibonacci retracement levels drawn from March 2022 highs to May 2022 lows. The next resistance will be between $2.9396 to $3 because the area has 2.272 Fibonacci retracements and a psychological resistance of $3.
ការព្យាករណ៍តម្លៃ DYDX
DYDX seems to form a solid double-bottom base. With the support of volume, a close above the neckline at $2.578 can send the price over the $5 level. However, the same neckline is a strong resistance as of now.
Got something to say about decentralized wallets and exchanges or anything else? Write to us or join the discussion on our ឆានែល Telegram ។ អ្នកក៏អាចចាប់ពួកយើងបានដែរ។ Tik តាក់, Facebookឬ Twitter.
សំរាប់ BeInCrypto ថ្មីបំផុត Bitcoin (BTC) ការវិភាគ, សូមចុចទីនេះ.
ការមិនទទួលខុសត្រូវ
រាល់ព័ត៌មានទាំងអស់ដែលមាននៅលើគេហទំព័ររបស់យើងត្រូវបានផ្សព្វផ្សាយដោយស្មោះត្រង់និងសម្រាប់គោលបំណងព័ត៌មានទូទៅតែប៉ុណ្ណោះ។ សកម្មភាពណាមួយដែលអ្នកអានអនុវត្តលើព័ត៌មានដែលរកឃើញនៅលើគេហទំព័ររបស់យើងគឺប្រឈមនឹងហានិភ័យរបស់ពួកគេ។
Source: https://beincrypto.com/decentralized-services-become-the-new-safe-haven-in-crypto/