05/26/2023
📌 THE USA IS CENDING ITS PRIMACY IN THE CRYPTO INDUSTRY TO THE UAE, ASIA AND EUROPE.
📊 The American investment management company ARK Investment Management LLC, which manages several exchange-traded funds totaling more than $ 14 billion, published a report on the state of the cryptocurrency industry in the United States.
In the document, ARK fund analysts explain why the US is at risk of losing its leading position in the cryptocurrency sector, ceding first place to the UAE, South Korea, Australia and Switzerland. They argue that the recent breakout of US market makers Jane Street and Jump Trading is the first sign of a backlash to inadequate market regulation.
💎Krycapital Henbbo fund analysts also closely monitor the state of the US crypto market and note that crypto liquidity in the US has sharply decreased in recent times. For example, according to Coin Metrics, Bitcoin trading volume in the country has dropped by 75% in the last two months, from $20 million per day in March to $4 million in May.
It is also characteristic that the fee for the first cryptocurrency on Binance.US was $600 higher than on other exchanges. This mispricing in the US further motivates investors and trading sessions to focus on other markets.
For example, in May of this year, Coinbase decided to establish a hub in the UAE. In the same month, the company announced the launch of Coinbase International Exchange, an international futures exchange for digital assets.
🛡 The Krycapital Henbbo Foundation took this scenario into account and directed most of its efforts towards the development of destinations in the Arab world, Central Asia and East Asia. And now, thanks to the current growth of investment activity in the East, it gives excellent results.
In the first quarter of this year, Krycapital Henbbo's earnings in these regions exceeded its target by 27% to more than $18 million. The company's total profit for the period was US$ 46 million, also 12% higher than expected.
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