The Crypto market is recovering from the FTX collapse

The Crypto market is increasing continuously, and it seems to recover from the major FTX collapse. We can see a continuous uptrend in the cryptocurrencies and the overall market is up by more than 2%. This can finally be taken as the end of winter in the Crypto market. As we have seen FTX collapse has affected the market not only in terms of decreased market value but also a sense of insecurity among the investors. But with the increasing market capital, we may take it as increased transparency may have developed back the interest of Crypto investors.

An uptrend in the market – 

The global crypto market cap increased hinting at a possible uptrend, in the past week, Bitcoin, Ethereum, and other altcoins, which have suffered significant losses after the FTX collapse, are increasing in market price and volume.

FTX the second largest Crypto exchange filed for bankruptcy. This shook the entire Crypto market and resulted in increased regulation for the Crypto asset exchanges in the world. But now with the increasing Crypto demand, we can assess it as a recovery in the entire Crypto market.

Transparency could be the reason – 

In this whole scenario, we may take the increased transparency as one of the reasons for increasing the Crypto market. To increase the trust factor Binance the biggest Crypto exchange platform introduced proof of Reserve which was further followed by other Crypto exchanges.  Also, the involvement of authorities may have resulted in better responses from both new and regular Crypto investors.

Indian Crypto exchanges in this whole scenario – 

As Indian authorities have kept clear regulations for tax and KYC regulation for Crypto Exchange in India. The major Crypto exchanges such as PlatinX Exchange have always worked with complete transparency and after this FTX situation, it has been increased and structured.