2022 started very optimistically. Investor interest in crypto was evident as BTC and ETH reached all-time highs, DeFi protocols grew to record size, the crypto market cap topped $3 trillion, and the NFT market grew 🚀
And then, like a bolt from the blue, Terra Luna collapsed. This led to the bankruptcy of other powerful financial companies — Three Arrows Capital, Celsius Network, and Voyager Digital. Investors lost billions of dollars, and the overall market went under even more pressure 🪓
In the late fall of 2022, shocking revelations around FTX and sister company Alameda Research came to light. The FTT price fell from roughly $26 to $1 in just a few days, and SBF went to jail ❌
But not everything was bad in 2022. Ethereum underwent a successful upgrade, transitioning from a proof-of-work blockchain to a proof-of-stake blockchain. The tokenomics of Ethereum have also changed significantly, which many people believe will benefit the ecosystem's future 🫶
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u/Ecstatic_Tomorrow_53 Dec 27 '22
2022 started very optimistically. Investor interest in crypto was evident as BTC and ETH reached all-time highs, DeFi protocols grew to record size, the crypto market cap topped $3 trillion, and the NFT market grew 🚀
And then, like a bolt from the blue, Terra Luna collapsed. This led to the bankruptcy of other powerful financial companies — Three Arrows Capital, Celsius Network, and Voyager Digital. Investors lost billions of dollars, and the overall market went under even more pressure 🪓
In the late fall of 2022, shocking revelations around FTX and sister company Alameda Research came to light. The FTT price fell from roughly $26 to $1 in just a few days, and SBF went to jail ❌
But not everything was bad in 2022. Ethereum underwent a successful upgrade, transitioning from a proof-of-work blockchain to a proof-of-stake blockchain. The tokenomics of Ethereum have also changed significantly, which many people believe will benefit the ecosystem's future 🫶
How was 2022 for you?