CEX.IO’s Newest Market Analysis Report Explores Bitcoin’s Legacy and Impact 14 Years After Debut
COMPASS: The Power and Resilience of Bitcoin’s Influence on Financial Inclusion and the DeFi Revolution, dissects the currency’s meteoric rise, and how its program architecture continues to reinforce network health and stability.
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.
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