Gate.io Blog November 2022 | Gate.io Monthly Featured Articles

November 2022 | Gate.io Monthly Featured Articles

30 November 10:28

✨ November Highlights ✨

🔹 Hong Kong issued the Policy Declaration on the Development of Hong Kong's Virtual Assets.
Please refer to Hong Kong New Crypto Policy | Will Spring Come to Hong Kong Again?

🔹 Rubic's private key was exploited, resulting in a loss of $1 million.
Please refer to Market Trend｜Rubic Loses $1,000,000 In Private Key Exploit, MATIC Adoption Causing Anticipation For Up To ‘200% Gains’

🔹 The domino effect of FTX crash continues to spread.
Please refer to Disclosure About Alameda and FTX | How Can Users Avoid Risks When Organizations Are in Chaos?

· Plummeted by More than 80% and BTC Dropped Below the $20,000 Threshold, Indicating a Gloomy Day in Crypto Winter

· FTX Event Tracking | The Crisis is Far from Over, and "De-trust" is Gradually Evolving into “Non-trust”

· The Domino Effect Involves USDT, CPI is Temporarily Favorable, and Panic is Still Spreading

· The FTX Saga Continues | Where Does the Domino Go?

💖 Netizens Favorites 💖

❤️ 264 netizens expressed their love for “What Is the Significance of Introducing Third-party Audits to the Exchange? Understand What Proof of Margin Is.”
“For users, Proof of Margin means safe and regular, smooth 24x7 transaction, transparent and convenient.”

❤️ 118 netizens expressed their love for “What Is Wallet.io? How to Adopt Wallet.io as Soon as Possible?”
“Wallet.io is a secure, decentralized, and all-coin-supported personal wallet, which is the only global all-coin-backed decentralized personal wallet supporting dual authentication.”

❤️ 102 netizens expressed their love for “Are Your Assets Safe in CEX?”
“Choosing a reliable exchange cannot be done once and for all.”

❤️ 123 netizens expressed their love for “What is a Merkle Tree?”
“The invention of Merkle trees and its subsequent usage in blockchain technology is an invaluable asset to the world of tech.”

👀 Hot Spots in the Crypto Space 👀

🔷 Trade on Index | The 6 Best Technical Analysis Indicators for Crypto Traders
“The 6 best technical analysis indicators are Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), Stochastic Oscillator, Bollinger Bands, Volume and Moving average.”

🔷 How to Protect Your Portfolio in the Face of Market Turbulence
“With unexpected price swings, market downturns, and bearish sentiments becoming the norm in the crypto space, it is critical to understand some tips and tricks to help protect your portfolio.”

🔷 Don't Hurry to Withdraw the Coin! Cold Wallet is Not as Safe as You Think
“The real world is originally a process of entropy increase, and the mission of blockchain is to slow down the speed of entropy increase.”

🔍 Market Highlights in November 🔍

As of November 31, the crypto market Fear & Greed Index was [Fear 29], down 2 from [Fear 31] last month.

The trust gained by the crypto industry from Wall Street investors and institutions after years of hard work, collapsed this month due to the FTX incident. The bull market boom in the crypto market has become a distant myth. BTC has fallen by approximately 65% year to date. Meanwhile, on the day when FTX was unable to reverse the situation (November 7), BTC fell by approximately 24%. Terra, 3AC, FTX, and other major players in the industry were eliminated due to unstable and unsustainable risk models, and the bleak global macro situation further led investors to stay away from risky assets.

If 2022 is a difficult year, then November should be the most painful month among the challenges. The domino effect of FTX has spread widely. In addition to FTX and 130 subsidiaries that have applied for bankruptcy protection, some other leading enterprises in the industry have also applied for bankruptcy. The latest application for bankruptcy is BlockFi. According to media reports, the number of BlockFi creditors exceeded 100,000, and the scale of assets and liabilities was between $10-10 billion. Based on the past major bankruptcy cases in the United States, FTX users may have to pass through many years to get their money back, and three to five years may be a preliminary time frame.

The blow to trust is irreversible, which is the most profound impact of the FTX incident. The domino effect will cause the price of BTC to remain low, and we may face more pain, but let's put aside the pessimism and look at the current situation objectively——1. Will large banks take the "big trouble" suffered by the crypto industry as an opportunity to enter the blockchain market? 2. Is the recent sell-off a temporary bearish sentiment brought about by the domino effect? Or has investors' deeper psychology changed? Perhaps clarifying these two issues can help us better judge the situation and carry out the next plan.

🟠 BTC was opened at $20363.8 in November, and the current quotation was $16845.7 at 12:00 on November 30, representing a decrease of 17.3%.

🔵 ETH was opened at $1569.5 in November, and the current quotation was $1265.2 at 12:00 on November 30, representing a decrease of 19.4%.

🌍 Global Affairs in December 🌍

Author: Gate.io Researcher Jill Ma
This article represents only the researcher's views and does not constitute any investment advice.
Gate.io reserves all rights to this article. Reposting the article will be permitted provided Gate.io is referenced.
In all other cases, legal action will be taken due to copyright infringement.

ETH/USDT -1.29%

BTC/USDT -5.54%

GT/USDT -8.47%

✨ September Highlights ✨

💖 Netizens Favorites 💖

🔍 Market Highlights in November 🔍

🌍 Global Affairs in December 🌍

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November 2022 | Gate.io Monthly Featured Articles

✨ November Highlights ✨

💖 Netizens Favorites 💖

👀 Hot Spots in the Crypto Space 👀

🔍 Market Highlights in November 🔍

🌍 Global Affairs in December 🌍

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