2022 was a hectic year for the crypto sector. From the mid-year crypto winter to the collapse of FTX in November, these events marked what would be the most complicated year of the crypto economy.
Last year was full of ups and downs for the crypto ecosystem, which left significant losses in monetary terms and immense doubt in terms of confidence in the ecosystem.
As Alex Konanykhin– Unicoin CEO, points out for expansion: “ These problems stem from the lack of backup assets of Bitcoin and most of the other cryptocurrencies.”
However, cryptocurrencies, as well as interest in them, are very much alive despite the year’s circumstances. Google searches are a good indicator that curiosity and interest in crypto remain firm.
It’s clear considering the ranks of the five most googled questions on cryptocurrencies:
- What are cryptocurrencies?
- What is crypto?
- How to invest in crypto?
- What is cryptocurrency mining?
- How to buy cryptocurrencies?
The questions and the order in which they are presented indicate that there is an interest in knowing what they are and how exchange platforms work. Curiosity does not end only with how the crypto ecosystem operates but also the reason(s) it falls. A question that undoubtedly reflects a concern for crypto’s extreme volatility.
The volatility of cryptocurrencies is not a new problem and was evident in November after the collapse of the FTX exchange platform. Something new is the lack of transparency in the management of crypto assets, so it is increasingly necessary to incorporate some type of audit into the process of financial management of digital money entities as a restoration mechanism for investor confidence.
Many market analysts agree that the crypto industry would be resilient in the medium and long term, and as the ecosystem evolves, cryptocurrencies will be in need to offer backup mechanisms to ensure not only a better experience for users but also their long-term existence.
Unicoin is asset-backed by innovative companies and has periodic audited company reports that can be easily found on our website. You can also find data on the companies in which we invest. Transparency is part of our philosophy. Get to know our asset portfolio at unicoin.com
