Crypto market movements throughout the first quarter of 2022 are likely to consolidate. Various negative sentiments such as expectations of rising interest rates, high inflation, and the Russia-Ukraine conflict have limited the price movements of various crypto assets.
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| Tokocrypto Transactions Reach US$ 300 Million per Week in First Quarter 2022 |
At the same time, there is minimal positive sentiment that can lift the price of crypto assets so far. Bitcoin, as the crypto asset with the largest capitalization, tends to move in the range of US$ 34,000-US$ 45,000 per BTC.
Tokocrypto COO Teguh K Harmanda said the growth of the crypto asset industry in the second quarter of 2022 was still quite good. This in the end also had a positive impact on Tokocrypto.
He said that the number of investors in Tokocyrpto has now reached 2.7 million users as of the end of March. This figure is up about 26% from the end of 2021, which still had 2 million users.
"As for the transaction or trading volume of crypto assets until the first quarter of 2022, it has reached US$ 300 million-US$ 400 million per week. This figure is up about 60% from the achievement in December 2021 of US$ 190 million per week," said the man who is familiarly called Manda to Kontan.co.id, Wednesday (6/4).
According to Manda, the increase is inseparable from the positive sentiment from the local crypto market this year. Starting from the emergence of Ghozali's NFT to local crypto projects that boomed earlier this year, which must be admittedly boosted the prestige of the crypto asset industry. As a result, many new investors entered.
However, this achievement is considered to be still not optimal. He said this was the impact of the global crypto market which is arguably in a stagnant phase along with the sentiment of the effect of the Fed's interest rate increase to the Russia-Ukraine geopolitical tensions.
In the midst of investor growth and transaction volume in the first quarter of 2022, Manda said crypto assets Bitcoin (BTC) and Binance Coin (BNB) are the two crypto assets that have high transaction volume. According to him, BTC, which has now become an investment hedge asset whose value continues to grow, is one of the factors for the high interest in this token.
“While BNB on the one hand also has strong fundamentals. In addition, the network is already widely used by other crypto project utilities through the Binance Smart Chain (BSC),” added Manda.
With a positive note in the first quarter of 2022, Manda sees that growth is expected to continue to grow. Especially if the crypto asset market situation can improve from the pressure of rising interest rates and geopolitical conflicts.
“Tokocrypto will also continue to prioritize educating the public to deal with this growing number of investors. We want the crypto asset ecosystem to run well, healthy and of good quality,” concluded Manda.
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