June 2022 Newsletter
The crypto winter arrived a little early, officially. Starting from the second week of June 2022 the entire crypto ecosystem lost 27.9% of its market cap dropping from $1.29 trillion to a low of 930 billion. Bitcoin started declining from $30k to $17k lows before finding steady grounds at $20k. Following the slide Ethereum shed over half of its value falling from $1800 to lows of $800 and then gaining value back to $1100 range. Almost every other top cryptocurrency is going through some type of correction due to extreme fear from traders and investors.
The market movement comes from much global economic uncertainty. With all the major economies seeing record high inflation causing a big jump in interest rates and slowing down consumer spending. Some of the big-name lending platforms have been exposed with their bad trading practices which in turn caused a lot of investors huge losses and funds being frozen without any resolution.
This phenomenon has caused a lot of the retail traders to cash out on their crypto holding which quickly accelerated into a snowball effect. Despite the negativity in the short term, the outlook for the crypto space is not gloomy at all. Bitcoin along with the big cryptocurrencies will find new a base and rebound to all-time highs at some point. This isn’t the first time the market has been shaken up and will not be the last!
Going through yet another revolutionary stage of the crypto market cycle TBC2 and its community is stronger than ever. The distribution stage of Round 8 continues forward with the aim to finish with 50 million coins in the final Round 9…
Our devs are continuously working on the smooth migration process to the Polygon chain together with new ideas and features that may have big potential for the coin its user base.
Good things are being crafted. Keep calm and HODL (Hold on for dear life)!!
