Cryptocurrencies, blockchain, NFT and new trends

Trading on major exchanges spiked following collapse of Terra, FTX: BIS report


A report from the Bank for International Settlements (BIS) suggests that trading activity on major exchanges increased in the days following the collapse of crypto firms FTX and Terraform Labs.

In a Feb. 20 bulletin on “crypto shocks and retail losses,” the BIS reports that while the price of Bitcoin (BTC), Ether (ETH) and other currencies dropped in 2022, the number of daily active users at some exchanges including Coinbase (NASDAQ:COIN) and Binance “increased markedly” following news of the collapse of Terra and FTX. The bank suggested that “users tried to weather the storm” by moving their investments into stablecoins and other tokens likely not looking bearish at the time.

Source: BIS

Continue Reading on Coin Telegraph