‘Crypto winter’ woes reach scorching Gulf shores amid rising volatility, credibility concerns – Arabian Business

‘Crypto winter’ woes reach scorching Gulf shores amid rising volatility, credibility concerns – Arabian Business

Major cryptocurrency coins have recorded extended declines recently – with market cap falling below $1 trillion for the first time since January 2021. Bitcoin, the largest cryptocurrency by market value, has dropped by around 65 percent, tanking for nearly 12 weeks.

It seems the “crypto winter” has come, with investors, analysts, regulators and other industry players all over the world ramping up discussions on the industry’s frigid blows.

According to Axiory, a global brokerage firm, MENA investors generally tend to be more cautious in their approach to investing, shielding them from massive impact of the recent downturn in crypto valuation.