After two years of meteoric rises and many promises, this is 2022 cryptocurrencies they are having a black spring. bitcoin and Ethereum, the two most powerful virtual currencies, collapsed Again this Monday as we drift into the corralito announced this Sunday by the Celsius Network exchange platform.
Like Domino, the heavy losses of both cryptocurrencies, which were 14.7% and 17.58% respectively at the time of publication of this article, were highlighted by the decision of the American trading platform. stop all processes In addition to withdrawing funds from its 1.7 million customers. Celsius Network is one of the largest lenders in the world. digital currencies.
The platform justified this paralysis by ensuring that it “serves to stabilize liquidity and operations while we take measures to protect and protect assets.” Room “extreme market conditionsThe capital instability these virtual assets have suffered since the Luna and Terra tokens crashed in early May has made possible Lehman Brothers cryptocurrencies due to the drift effect they have created in the industry.
Celsius trading platform has also been hit by the faltering crypto market in recent weeks. Thus, the value of its assets has halved since last December, from $24,000 million to $12,000 million. This caused many small investors to withdraw their money from there, which would cause a problem. lack of liquidity which caused Celsius to adopt this playground as hopeless.
The decision to stop all trades and withdraw money infuriated thousands of platform customers who saw how their assets were trapped as their assets continued to depreciate in the market, which in practice means: lose a large amount of money.
The current value of the reference cryptocurrency, Bitcoin, is around 22,545 euros per asset, far from the 70,000 that this emerging and speculative market was about to reach last November, when all the promises of this emerging and speculative market were not yet beginning to fade.