Your wallet, your cryptocurrency.

Are people finally learning not to put their crypto on exchanges and leave it there?

I hope so.

In my evening reading I came across this article.

Crypto Is Flowing Out of Exchanges: 'Severe' Outflows From Gemini, OKX and Crypto.com, Says JP Morgan.

To dona big quote from the start of the article.

"Investors are pulling funds out of major crypto exchanges as a result of the collapse of FTX, JPMorgan analysts have said.

In a note to investors Wednesday, analysts at the investment bank noted that all major exchanges experienced outflows last week but Gemini, OKX and Crypto.com had the most “severe” draining of funds.

Analysts also said that the stablecoin market is getting smaller—and this may continue to hurt the price of other major cryptocurrencies like Bitcoin"

First thing I will touch on is HBD. I just checked and it is close to peg. About 98.5. Sure is was down in the 80s during the collapse of FTX but it has recovered. Apparently other stable coins are not so lucky. This is truly showing the power of Hive.

Back to pull crypto of exchanges. We are brought up in a society where we are lead to believe we have to use banks. Everything is banks. Direct deposit, direct payments, etc. So make no wonder people put their crypto on exchanges. To them it is no different.

I am older. I know people that keep their money under there bed. Lol.

When I first starting get paychecks we use to go to our local coop and change them foe cash. We kept our cash and used it. I never had a bank account until society forced me to.

Get a fracking wallet and keep your own crypto. You want to trade put it on the exchange, do your thing and take it back out.

This is to much trouble for most but they are learning.

I understand this exchanges like crypto.com leverage people's money and use it to try and make more. Call it business, call it greed but we so the results in places like FTX.

I believe you can run a successful exchange on fees. And that may be where they will have to go.

Exchanges are not banks and the people running them need to remember that.

There is a good cleansing going on. Usually I would say the strong will survive but it is the ones doing things correctly that will.

Hive as a Blockchain and as a crypto will be on the top of the list. Once we have an awesome DEX us people who like to trade won't have to worry about other centralized exchanges.

I cannot wait to see pearings with Hive and hbd like there is with Bitcoin and USD with other coins and tokens.

I hope this out flow from the exchanges is the new normal, that people have learned.

Time will tell.

In the mean time, I am fracking alive and Thriving.

Bradley

Posted Using LeoFinance ^Beta