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In 2009, the bitcoin currency gained great popularity, when it became the first cryptocurrency in terms of access on a large scale, marking the transition of cryptocurrencies from mere idea to legal application on the ground.
Thousands of cryptocurrency speculators have made millions by investing in bitcoin in its early days, but the recent drop in cryptocurrency prices has sparked a big debate about its future.
Cryptocurrency transactions are not without turmoil and volatility, but researchers have a firm belief that digital currencies are still promising, as well as evidence and indications that digital assets are still resisting amid the crises in the market. But what investors should do before investing in digital currencies is to make their own market assessments.
As Ola Lind, director of strategy at FTFT, a Nasdaq-listed company, CEO and board member of FTFT Capital, notes that despite the collapse of the Terra cryptocurrency, analysts stated that the status of the cryptocurrency Bitcoin is completely different, as transactions in it are still going on despite the fluctuations in the market.
This is mainly due to the increasing number of investments in the areas of Blockchain gaming and the efforts made by Metaverse virtual world technology.
According to the latest statistics from the analytics service Dub Radar, blockchain gaming has proven to be the de facto winner throughout the crypto recession. Blockchain gaming has grown by 10% since the first quarter of the year, with Blockchain gaming taking its place as a major industry thanks to its strongest performance during the market downturn.
Regardless of the recent slump in cryptocurrency prices, the industry continues to command a lot of consumer interest, according to analysts at Bank of America.
According to the survey conducted by the analysts, about nine out of ten users and potential users of digital assets and cryptocurrencies want to acquire cryptocurrency in the next six months, which is the same percentage as during the previous six months.
And 30% indicated that they did not intend to sell the shares they owned during the next six months, the same number that stated that they did not sell any of their properties during the past six months. Cryptocurrencies such as Bitcoin, Ethereum and others witnessed a huge boom last July.
Bitcoin increased by 27%, its highest since last October, while the second largest cryptocurrency increased by 70%, achieving its optimum monthly performance since January 2021. According to Crypto Compare, the total volumes of the stablecoin ( Tether) for both Bitcoin and Ethereum during July, which indicates that investors have considered it a safe haven within the crypto system.
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