Crypto has been in a freefall for most of 2022, leaving many investors scrambling for what to do next. Especially after the FTX collapse, which has shakeup the world of cryptocurrency. Now 2023 is off to a bright start.
FTX’s failure and collapse hugely impacted other cryptocurrency exchanges, including BudBlockz (BLUNT) and Ripple (XRP). In this article, we’ll go over the reason for the collapse and how the two cryptocurrencies will fare in the aftermath.
The Collapse
FTX collapsed due to a lack of liquidity, leading to the mismanagement of funds by panicked investors. The most popular coins also took a downturn: Ethereum and Bitcoin reached a two-year low following the crash—the value had plummeted along with FTX’s native token, FTT.
Other exchanges have been affected by the collapse of FX International, including BlockFi.
Ripple ($XRP) After the Collapse
Ripple ($XRP) was one of the cryptocurrencies that took a hit following the collapse of FTX. It saw a massive drop in its price due to regulatory issues and negative publicity from regulators.
Ripple will likely begin bouncing back quickly. It is now trading at 30 cents, which is its strong support level; however, a reasonable prediction would be for prices to recover and easily reach 50 cents again.
The current price of $XRP indicates its potential for significant value growth. Nonetheless, if the cryptocurrency market recovers, $XRP should be able to return to its original target range of 44 to 50 cents and keep growing.
Ripple’s transaction confirmations are incredibly fast: the cost to complete a transaction on the network is just 0.00001 XRP—this is fixed regardless of how much value has been transferred from one account to another. Some banks using this network include IndusInd Bank, Santander, and Bank of America.
BudBlockz ($BLUNT) After the Collapse
Despite the collapse of FTX, BudBlockz has seen a surge in interest and investor confidence.
The low initial valuations for BudBlockz’s private sale and presale have contributed to the enthusiasm around this cryptocurrency. The strategy of selling tokens during an ICO campaign at a discounted price is designed to attract early investors and broaden the company’s appeal beyond the typical small group of insiders who generally profit from untenably low private-sale prices.
$BLUNT has many advantages. One thing that stands out is it’s a deflationary currency that will only increase in value over time. It will be used as a currency within the BudBlockz ecosystem, and owners can earn rewards by participating in decentralized financial transactions in the cannabis industry.
The Ganja Guruz collection will soon be launched as well—Budblockz’s much-anticipated entries to the NFT marketplace.
An initial investment in these tokens is a good way to make money for those who want to recover in 2023 and beyond.
The Bottom Line
These coins will be excellent investments in 2023, as they have the potential to gain value and become useful for real-world applications now and in the future.
$BLUNT and $XRP are both solid investment options that can provide long-term returns.
Purchase or learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
