New Market Research Sounds Promising For Crypto

According to a recent study by Genesis Trading, the current bear marketplace has badly affected the cryptocurrency lending and borrowing market, with trading masses falling by more than 80%. Two decreases occurred in the third quarter. 

The statistics

The market capitalization of cryptocurrencies increased by four. This stands in severe comparison to the common perception that crypto is highly beta. Six percent growth to nine hundred and five billion represents a respectable performance in a time of stagnation, but is still a long way from the past peak reached last year. 

The broker claimed that despite a market sell-off, the lending division continued to function. However, as the macroeconomic environment deteriorated, the industry’s need for these obligations sharply decreased. Other aspects of the business have decreased for brokerage firms as well.

Spot trading volume at Genesis dropped to nine billion dollars. The derivatives department also dealt with notional amounts of almost nineteen billion dollars, a thirty percent decrease from the prior quarter. The securities services company, which saw an eight percent increase in reported clients, was the only shining example. 

The future

Risky hard assets could not effectively rise from the ashes as a result. There were few indications of a lasting recovery, and the rebound was brief. Fourth-quarter perspectives from the research. The fourth quarter may hold improved prospects for cryptocurrencies. 

The company is prepared for an extended crypto-winter as users are moving assets following an exhilarating summer of nonstop awful broadcasts. The company’s statement states that this will begin in the fourth quarter. Genesis was one of the biggest debtors caught in the crossfire when crypto hedging monetary fund Three Arrows was unsuccessful this summer. 

The company, like some other crypto businesses, had to make hard decisions in order to contour its operations. Twenty percent of Genesis’ staff members were let go when the company wholly regrouped its management constitution this year. Senior executives have left the company in recent months, including newly nominated CRO Patchen. BigTech companies have seen a decline in the industry despite the recent boom on Wall Street. It might be related to how the cryptocurrency market will develop in the future. 

But still, the number of crypto-enthusiasts is growing and me might see a promising future of crypto adoption all around the world. More and more institutional stakeholders invest in crypto as well as ordinary people start using stable coins as a way to save money at sight of economic instability.

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