In early 2022, the total market capitalization of login passwords and the sales market of irreplaceable dynamic passwords (NFT) can achieve amazing health. The value of login passwords reached $250 million, while NFT peaked after exponential growth in 2021.

Like previous encryption bull markets, the latest project has won a great deal of attention, which promotes aggressive speculative project investment; the Terra ecosystem is a case in point. In addition, investors and venture capitalists are investing heavily in this fast and increasingly crowded field. All of these activities take place in a broader macro environment, which feels particularly strong and very easy to borrow at low rates, so madness about high-yield bonds may be a wise choice. because it's the source of value creation.

Four advantages of login password in 2022

1) etheric cooperation

In September of this year, we carried the key technical event of the year: the combination of the etheric. The etheric block chain technology has successfully moved from the work unit to the consensus layer into the rights and interests certification system. Because the miners will not pass the verification of this chain, its energy consumption has long been greatly reduced, and now its mode of operation is much more environmentally friendly.

Business merger, interest in the first layer (Cardano, Solana, Avalance) chain also seems to shift to the second layer (litigation, cheerful) to expand solutions. In addition, at the level of chain transaction fees, CEX transaction fees and their recent royalties for NFT trading sites, there is also a full range of bottom-to-bottom competition.

2) conflicts and encryption

The large-scale worldwide conflicts throughout the year have brought abundant opportunities to demonstrate the low-friction cross-border e-commerce value transfer energy of Crypto. With the beginning of the war in Ukraine, the cryptographic community came together to finance his application, raising millions of dollars and sending it to applicable troops and family areas.

In Canada, I saw the birth of a political conflict. More than a hundred truck drivers strongly protested against the mandatory requirement for Covid vaccine. In the end, the streets of the capital of Beijing were strongly protested against the core of the theme campaign, and GoFundMe conducted a $10 million theme campaign-the site finally shut down the theme campaign because it violated the terms of service. In response, advocates turned to encryption, raising nearly $900000 worth of BTC to further support his diligence. This should be one of the reasons why the Canadian government implements the regulatory programme throughout the year.

3) selection of high-tech ape giants

Meta poured billions of dollars into the illusory world, while Facebook and Instagram wanted to compete with the TikTok market. Although the value of these Internet giants continues to decline, they seem to be very cheerful. She is releasing NFT to users, just as we have seen social networking platform Reddit doing a great job. Reddit explained the concept of digital collection to millions of Internet users. Allow customers to buy and sell his Reddit profile picture and set it to CryptoSnoo NFT.

4) Fashion trend adoption

It is not only technology limited companies that have entered this field this year. Well-known brands have been using Web3 as a way of expansion, especially fashion leaders. Tiffany necklace Enterprise (Tiffany&Co.) 250 limited gold pendants were launched and began to enter this field. This custom widget is purely carefully prepared for users of the beloved Cryptopunk NFT.

Francois-Bert Pinot, CEO of Gucci's parent company, Kering Group, also revealed that Kering has a team that is thoroughly committed to building the influence of Gucci and Balenciaga shoes in Web3 and Metverse.

Four frauds of login password in 2022

1) the collapse of stock funds

By the end of the second quarter of 2022, the total market value of login passwords had shrunk by 40%, wiping out an overall value of about $100 million. During this period, it has become obvious that some CeFi institutions have high leverage ratios. Many of the loans-many of which are not pledged-involve Three Arrow Capital and other equity funds. With profits from Terra stable coins (UST, no need to be confused with USDT) to 20%, rising commodities have plummeted to below-inflation interest rates, let's take a look at the peg of such coins. The confidence of the encryption ring in the smooth coding of the optimization algorithm is significantly reduced, and then it will never be repaired. Three Arrow assets lost a lot of assets in the sale after the bankruptcy of Terra. Returns have plummeted further, making it difficult for other CeFi services, such as traveler data and Celsius Network, to return customer assets.

2) the trading center crashed

By the end of the summer, the sales market had regained a certain degree of self-confidence, mainly due to the intervention of large and medium-sized trading centers and custodian institutions FTX, which seemed to rescue BlockFi, a large and medium-sized CeFi loan company, from bankruptcy. Under the leadership of founder Rob Bankman-Fried, FTX, known as tough, has once again seen further project investment in encryption companies. However, after the rumors and public debate about BinanceCEO Zhao Changpeng, people gradually doubt the capital adequacy ratio of FTX and its ability to maintain its spontaneous dynamic password FTT. Traders are gradually withdrawing assets from FTX. FTT prices have fallen from about $26 to $1 in a few days because of variability and bank runs; FTX's reaction to suspending customer withdrawals can only add to anxiety and anxiety. Such fears in turn led to the subjugation of FTX, which declared bankruptcy.

By November, with the recognition of centralized service platforms again to a minimum, coupled with the collapse of the financial industry infection spread, many other ancillary new projects gradually went bankrupt.

3) insider trading

Ishanwaxi, a former employee of Coinbase, was found guilty of insider trading. He and his family used the website's trade secrets to sell information to buy tokens before they were listed on the trading center, and to sell them with a surge of interests since the listing, making a profit of more than $1.5 million.

Similarly, Nathaniel Chastain, a former OpenSea employee, was tested to participate in an NFT-related insider trading program, the first of its kind. The product operator uses confidential information about what NFT will appear on the front page and the content that is most likely to interest customers.

4) Sandstorm cash is subject to strict supervision at any time.

The foreign approved currency mixing agreement Tornado Cash, called the security hidden danger of our country, is used to launder money by other countries. Many charges that fabricate lies that are not like this have long been mentioned, a legal battle is still under way, and one of the key real estate developers, Alexei Pertsev (Alexey Pertsev), has been detained. A client of the agreement also used it to distribute 0.1eth to a number of well-known detailed addresses, including Jimmy Falon addresses, showing the absurdity of what is now technically involved and contrary to all aspects of the new ban.

In the chaos of 2022, the key to strict regulation in the field of login passwords is more firm. Although some countries have already taken effective measures to buy and sell login passwords legally (Palama) or to approve the currency in circulation (El Salvador), the United States has ordered to turn off the BTCatm machine and has checked its position on currency stability. Joe Ban Ki-moon also issued an administrative regulation stipulating that "scientific research on the risks and benefits of encrypted currencies".

At XGO, I hope there is no coal under the Christmas wreath this year. Although the total number of General Motors is getting lower and lower, it is embarrassing to go home and talk close to the all-time high, but we will keep up our efforts to encourage you in the new year. Fortunately, Crypto's mischievous roster for 2023 will be shorter.

Digi516Is a long-term login password researcher and NFT enthusiast. After working in risk control systems and information / business analysis, they have 6 years of trading experience and more than 4 years of proactive community governance experience. They are currently the distribution and community leaders of XGO.