The fall of FTX has had a positive impact on the cryptocurrency market

Experts of the Bernstein analytical department came to the conclusion that the fall of the FTX cryptocurrency exchange was the reason for the emergence of a bull market. This was reported by CoinDesk publishing house.

Details from analysts

The bankruptcy of the FTX cryptocurrency exchange, owned by Sam Bankman-Fried, allowed to remove the residual tranche of harmful leverage. This became a motivation for investors to pay attention to decentralization and a non-castoid type of storage of tokens and crypto assets. This was reported by analysts Chhugani and Agrawal.

In their opinion, macro-catalysts as a disadvantage of local US banks and the outflow of assets to the money market or in financial organizations have given huge benefits to bitcoin and other cryptocurrencies.

They noted that bitcoin has risen by 80%, while ether has risen by 76%. At the same time, the latter, after the update, gave an impetus to the rest of the crypto market.

According to analysts, the future potential has not yet been fully realized. However, positive factors are already visible. They noted that the major participants are looking at a long-term perspective.

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