LONDON, Feb. 02, 2023 (GLOBE NEWSWIRE) -- CEX.IO, a global ecosystem of products and services that connects people and businesses to the cryptocurrency economy and decentralized finance, released its market analysis report for Q4 2022, COMPASS: The Power and Resilience of Bitcoin’s Influence on Financial Inclusion and the DeFi Revolution.
Prepared by CEX.IO’s Market Research Team, the report examines how Bitcoin’s internal programming inspired its adoption, and helped reveal a new financial horizon. After several high profile projects collapsed in 2022, COMPASS presents diagnostic evidence that Bitcoin’s dominance and stability remain rooted in its tenacious community and network integrity.
“As Bitcoin enters its 14th year on the market, a lot of what we’re seeing is providing fresh optimism,” said Oleksandr Lutskevych, CEX.IO’s Founder and CEO. “The amount of supply held by users who historically HODL their coins, and the age of BTC on-chain suggest that conviction has never been stronger.”
Despite a difficult year for the industry, the report demonstrates how Bitcoin’s architecture helps ensure its good health in 2023 and beyond. While new innovations such as DEXs and stablecoins are expanding the asset’s transactional potential, the report concludes that such improvements are predicated upon Bitcoin’s foundational promise and programming.
As one of the original Bitcoin miners who helped discover over half a million BTC, Lutskevych was a key contributor to the network’s early development. With market capitalization down significantly from last year, and the industry undergoing increased regulatory scrutiny, COMPASS highlights critical nodes of success within the digital asset space.
“Progress is often nonlinear, but each setback provides a fresh opportunity to chart a more thoughtful course,” Lutskevych added. “We hope you’ll join us as we explore this next chapter in the ecosystem’s continued evolution.”
To read CEX.IO’s full Q4 2022 COMPASS report, please visit here.
###
ABOUT CEX.IO
CEX.IO was founded in 2013 with a mission to support global financial inclusion through the adoption of cryptocurrency and blockchain technology. As one of the most tenured market participants, CEX.IO offers a comprehensive ecosystem of intuitive solutions built with safety and security at their core, enabling users to trade, store, transfer and earn digital assets. With over six million registered users globally, CEX.IO helps retail, enterprise, and institutional customers seize opportunities in decentralized finance every day. Learn more at CEX.IO or follow us on LinkedIn.
© 2023 | CEX.IO Ltd All rights reserved. Not to be reproduced or retransmitted without permission.
CEX.IO is a trading name of, and [digital asset platform products and services] are offered by: in the U.S., CEX.IO Corp., registered with FinCEN in jurisdictions where it is licensed to operate as a Money Service Business (MSB Activities 409 499), registered office 900 E Diehl Rd STE 110, Naperville, IL 60563; in Canada, CEX.IO Limited, registered with FINTRAC; in Europe, CEX.IO Limited, registered in Gibraltar, No. 116846, registered office 8-10 Queensway Montagu Pavilion Gibraltar GX11 1AA. CEX.IO Limited is authorised and regulated by the Gibraltar Financial Services Commission as a DLT Provider under the authorization number: FSC0686FSA; CEX Overseas Ltd, registered in the British Virgin Islands, No. 2046189, registered office Craigmuir Chambers, Road Town, Tortola, VG 1110. CEX.IO Limited and CEX Overseas Ltd are subsidiaries of CEX.IO Holding Ltd.
These materials are for informational purposes only, and are not intended to be used for trading or investment purposes or as an offer to sell or the solicitation of an offer to buy any security or financial product. These materials do not provide any form of advice (investment, tax or legal). CEX.IO is not a registered investment adviser and does not provide investment advice or recommendations to buy or sell securities, to hire any investment adviser or to pursue any investment or trading strategy.
The value of digital and virtual currencies is derived from supply and demand in the global marketplace which can rise or fall independently of any fiat or government currency.
Holding digital and virtual currencies carries exchange rate and other types of risk.
Transactions in virtual currency are irrevocable, and, accordingly, losses due to fraudulent or accidental transactions may result in the loss of your money with no recourse.
Any questions regarding this document or application of any law, rule or regulation can be referred to us via email at [compliance@cex.io].
All trademarks, service marks, and trade names not owned by CEX.IO Ltd are the property of their respective owners.
Please refer to the Terms of Use for more details.
