Crypto Crew Influences Davos Main Street; Price Crash
Free Bitcoin Pizza Parking and Liquidity Lounge were a delight for attendees at this year’s meeting in Davos, where blockchain and cryptocurrency firms conquered Main Street; Despite the recent crypto crash in the value of digital coins. Crypto sector executives attended the annual meeting of business leaders and politicians at the Swiss Alpine Resort; they wanted to encourage the faster introduction of their technology; which is largely unregulated.
Popularizing the crypto crowd in Davos, even though it was mainly beyond the main event; The market value of cryptocurrencies lost $800 billion earlier this month. Small traders rushed to crypto in hopes of quick payouts; Despite warnings from regulators that emerging assets may be at high risk. Luna, until recently the eighth-largest digital coin and with the support of institutional crypto investors, has lost almost all of its value.
However, recent losses have not thwarted crypto companies’ plans to showcase their products and services. Securrency, a digital market base backed by Abu Dhabi, went to Davos for the very first time in 2022 to build relationships and networks. To show how it can combine new technologies and traditional finance. The company has created its schedule of panels in digital currency, in the style of the World Economic Forum, Beyond the security cordon of the main conference centre.
Crypto Crash
One of the world’s largest Stablecoins, Tether, offered passers-by free slices to celebrate Bitcoin Pizza Day in May. On Monday, Bitcoin, worth $30,332, fell to its lowest level since May 2020 in December. In November, the world’s largest cryptocurrency reached a record high of $69,000. Experts estimate that the peaks and valleys will become smoother as the market expands. The token related to Casper technology also received a hit.
WEF, which typically serves the financial elite, including large banks such as Citigroup to Credit Suisse, Holds panels on the carbon footprint and future of cryptocurrencies and one on decentralized finance. It is worth noting that about 50% of the city showcases were occupied by blockchain or cryptocurrency firms during the duration of the event.
