You see, this Bittrex incident happened when crypto market is trying to recover from a long retracement, today, BTC is already down over 2% coz this is a hard hit on the entire market tho we still have other exchanges in operation, the news has already created fear in our minds.
From my perspective, exchanges that are relying solely on trading fees and not investing in their respective ecosystem will be met with same fate. The cryptocurrency landscape is evolving and it's not business as usual hence it is imperative for exchanges to come up with innovative approach that will keep their users wanting more.
I don't think investment was the the issue with Bittrex but that of SEC continuous investigations and allegations. It's quite scary out there for some exchanges but it's a good thing we in a competitive industry where we can still avail ourselves with some good alternatives.
You see, this Bittrex incident happened when crypto market is trying to recover from a long retracement, today, BTC is already down over 2% coz this is a hard hit on the entire market tho we still have other exchanges in operation, the news has already created fear in our minds.
From my perspective, exchanges that are relying solely on trading fees and not investing in their respective ecosystem will be met with same fate. The cryptocurrency landscape is evolving and it's not business as usual hence it is imperative for exchanges to come up with innovative approach that will keep their users wanting more.
I don't think investment was the the issue with Bittrex but that of SEC continuous investigations and allegations. It's quite scary out there for some exchanges but it's a good thing we in a competitive industry where we can still avail ourselves with some good alternatives.