Crypto firms say thousands of digital currencies will collapse

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A cryptocurrency, crypto-currency, crypto, or coin is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it.

Cryptocurrencies use encryption to authenticate and protect transactions, hence their name.

Over the last few years, cryptocurrency prices have risen and then fallen. Crypto marketplaces do not guarantee that an investor is completing a purchase or trade at the optimal price. As a result, many investors take advantage of this by using arbitrage to find the difference in price across several markets.

The first decentralized cryptocurrency was Bitcoin, which first released as open-source software in 2009. As of March 2022 there were more than 9,000 other cryptocurrencies in the marketplace, of which more than 70 had a market capitalization exceeding $1 billion.

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https://www.cnbc.com/2022/06/03/crypto-firms-say-thousands-of-digital-currencies-will-collapse.html

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1 Response to Crypto firms say thousands of digital currencies will collapse

  1. Pingback: How many of the 9,000+ cryptocurrencies are scams? | weehingthong

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