Renowned Crypto assets are stable even in this FTX gloom, Indian Exchanges are proactive towards the situation

As we have seen huge market fluctuation and changes in policies after the FTX collapse. FTX is one of the major Crypto Exchange platforms with a market volume and a number of active investors on the platform. But its sudden collapse has arose many questions in the Crypto market. But there is good news about the crisis. Bitcoin, ether and most other major cryptos were steady, even as investors wrestled with the sudden market change and the collapse of FTX.

The market stability of renowned Crypto and the FTX collapse –

FTX was considered one of the giant Crypto Exchange platforms till last week.  Its sudden collapse has left people in shock and uncertainty. There was a huge market change and fluctuation was expected after the FTX filed for bankruptcy. But the recognized coins were a table in this situation of the market. This shows a stronghold of a good technical background and stable conditions of well-known crypto assets.

As Bitcoin is still above the $16.5K. and holds a strong market position in the market even after the sudden collapse of the big Crypto exchange platform.

The perspective of Market Experts on the situation –

“We have seen broader market instability despite some positive macro developments for risk assets as a whole,” David Duong, head of institutional research, at crypto exchange Coinbase, further added “It’s still emerging which counterparties may have lent or interacted with either FTX or Alameda (FTX’s sibling company) and what those exact liabilities are. BTC could not only retest 2022 lows but touch the $13K level. We think there is support at $13.5K.”

FTX’s collapse doesn’t mean it will be the end for crypto, said venture capitalist Kevin O’Leary, describing the debacle as a “defining” moment that will “stabilize” the industry.“This does not kill crypto,” added O’Leary, who said that he had considered rescuing FTX before SEC chief Gary Gensler highlighted anew the industry’s lack of regulation. “There’s going to be a silver lining to this disaster. There’s no question about it. It’ll be called regulation.”

Indian Crypto Exchange Platform over the situation –

Platinx Exchange a 100% India Exchange platform, said over the situation, that the recognized coins hold a strong position in the market. This tells us about the market stability of these Crypto assets in such uncertain market conditions.

Platinx Exchange is an Indian Crypto Exchange platform, developed by a registered Indian Entity, and follows the Tax and KYC norms of the Indian authorities. Platinx Exchange also mentioned the transparency and proof-of-reserve auditing modules to be beneficial. In this uncertain market condition. Also, Platinx Exchange works with renowned and recognized crypto assets to keep the investor’s finances safe and secure from likely uncertain market conditions.