A new cryptocurrency intelligence and analytics platform, Dash 2 Trade, has supposedly raised $200k in the last 24 hours, pushing them to the limelight and sending investors scrambling to purchase D2T tokens. This news comes amidst the many happenings in the crypto space, especially with the rumors of this being the ending of crypto. A new company being able to raise an amount of money that huge is a breath of fresh air but does it signal healing for the crypto space?
Dash 2 Trade announced their intention to accelerate the timeline of their presale amidst the FTX collapse chaos, which was a brave move considering people were scared to invest at the time, but their efforts and bravery paid as they were able to raise $200k which is a massive feat in the current crypto economy, with companies crashing for less.
The company being able to raise money could either mean the ecosystem is slowly healing itself from the aftermaths of the FTX crash and BlockFi after, or it could mean that investors and enthusiasts alike are looking for something else to believe in to keep afloat in the harsh crypto winter. While this comes as a surprise, it, in the end, is a good thing as it reduces the panic selling route that most people have been taking.
The ecosystem is unfortunately not in a position it can heal yet as most companies are still trying to find stability, which has been apparent with companies laying off a large percentage of their workers and other companies that were exposed to FTX reeling from their loss, especially with no knowledge of when they will receive what they are owed.
The crypto ecosystem thrives on every bit of good news it can get these days, with all that has happened since Q2 of the year, from the crash in crypto prices, which was in huge contrast to how it started the year with certain coins recording the highest prices but unfortunately, it all came crashing down in the early days of Q2. The crypto market has still now recovered from it. Instead, they have been more catalysts involved in prolonging the crypto winter.
One of the issues behind the crash in prices and the current state of the crypto space is panic. Many people gave in to panic during the first lap of the price crash and sold their coins which dragged the prices even lower as the coins. The panic selling was followed by multiple hacks in the crypto space, with hackers carting away millions and being another source of panic.
Crypto has always been volatile, but companies like Genesis, BlockFi, and FTX filing for bankruptcy was a huge shock and drove a tremor into the crypto market. If a company like FTX could be caught in the claws of the bearish market, who was safe?
Most companies have taken to laying off their workers and reducing company costs to stay afloat till the crypto winter ends to minimize losses and maximize the chance of survival. Still, the most grueling part is not knowing when exactly it ends. The aftermath of the layoffs will make the crypto job market even harder to get into, as more experienced people will be let go from their companies, and this will make the market more competitive for other people.
What Will The Crypto Space Look Like in the Next Few Months?
With cryptocurrency, it is hard and also not advised to predict the future as crypto is known for its volatility. It could receive a significant boost in the future, or it could crash even further. Still, an intriguing thing is even with the current state of the crypto space, more laws are being created to make crypto legal, and more financial companies are being inclusive of crypto payment options in their services.
Regardless of the bearish market slowing things down, there are still exciting things happening in the crypto space. These innovations will continue bringing another demographic of people into crypto.
Conclusion
While the market is experiencing downtime, crypto companies are still breaking records, and like Dash 2 Trade, companies are raising thousands in their presale. It may not signal the healing of the crypto space, but it is a beacon of hope that the ecosystem has not entirely collapsed.
There is hope yet that there will be a bullish market in the future for every company and investor that survives the current crypto winter.
