Bitcoin hasn’t experienced such a drastic drop in value since the third quarter of 2011. The most popular cryptocurrency fell 58% between April and June, falling below the $20,000 mark on Thursday. As impressive as it has been for recent investors, this crisis is not the first the industry has gone through.
Trading volumes remain high despite falling prices, brokers IG France said. On the other hand, the violent withdrawal of recent months has highlighted a serious liquidity problem that extends to several platforms and crypto lending banks. Following the liquidation of three Arrows Capital hedge funds, Genesis Global Trading’s lending platform for professional investors remains “several hundred million dollars“.
Other lending banks like BlockFi, Voyager or Coinflex apply.extreme market conditionssuspend transfers and withdrawals from their customers…
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.