Native Crypto Exchange Tokens indicate the first sign of a broader market recovery

Native Crypto Exchange Tokens indicate the first sign of a broader market recovery

The cryptoma markets have reached their lowest level in more than a year, since the consequences of Terra's implosion essentially put a lot of strain on all digital assets.

The overall market capitalization of all cryptocurrencies reached its low point for trading on Thursday morning with almost $ 1.1 trillion. This is less than half of their market capitalization at the beginning of the year when crypto had a total value of $ 2.2 trillion.

Since the low point, retailers have returned around $ 135 billion in Crypto's overall market capitalization, although it is still unclear whether the upswing will stop.

The top 10 cryptocurrencies (without stable coins) have recovered by more than 14 % since the low point of the market-led by the alternative layer 1 token Avalanche and the native stock exchange of Binance Coin BNB, each of which was added.

The market leaders Bitcoin and Ether recover comparatively slower and have risen by around 9 % since the local low.

In fact, some of the most resistant cryptocurrencies have recently been the native tokens that are traded on stock exchanges - especially Unus Sed Leo (Leo) from Bitfinex.

similar to BNB from Binance Coinkönnen Bitfinex dealers save fees by the token (leo Double to reimbursement of Geldern, which have been lost in a considerable 2010).

But Leo has fallen less than 2 % since Terra's algorithmic stablecoin VAT lost his dollar bond for the first time. The large cryptocurrencies Solana, Polkadot and XRP have all lost around 25 %.

and last day the native cryptocurrency of the Bitfinex competitor FTX, FTT, fell by less than 4 %, while ether and Cardano collapsed by 13 %.

Daniel Matuszewski, co-founder of the crypto investment company CMS Holdings, said that block works exchanges from booming commercial volumes, which were inspired by volatility, mainly due to built-in combustion mechanisms.

These mechanisms typically serve as a method to reward token owners. Buy stock exchanges back and burn - remove the circulating offer permanently - reducing the circulating offer, while the purchasing power is strengthened to increase prices.

"It was very, very large 24 hours for the stock exchanges, so tons were fired and bought," said Matuszewski. "The stock exchanges are making a lot of business and earning a lot of money, and that flows into their tokens."

According to data from the crypto index provider, the stock market volume lasted a total of 14 % nomics where bitfinex added a full 34 %

Matuszewski said that the worst of the Terra debacle could be in the rearview mirror shortly.

"When Terra died, it obviously hurt many people, and I think they had to reduce risks elsewhere," he said. Matuszewski added: "I am sure that people had to do Margin Calls and that there were many forced sales as a result of de-pegging. I think this part of the market cycle is largely over."

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The Post Native Crypto Exchange Token Reference to the first signs of broader market recovery is not a financial advice.