You are currently viewing Crypto has survived worse than the fall of FTX: Chainalysis

Blockchain analysis firm Chainalysis has compared the fall of Mt. Gox to FTX to determine how FTX’s bankruptcy will impact the ecosystem.

It concluded that FTX was a relatively smaller part of the crypto industry than Mt. Gox was at the time and that the industry should bounce back stronger than ever.

In a Nov. 23 Twitter thread, Chainalysis’ research lead Eric Jardine began his comparison by first looking at the market share of the two firms, finding that Mt. Gox averaged 46% of all exchange inflows in the year leading up to its collapse in 2014, compared to FTX’s average of 13%, which operated from 2019 to 2022.

Jardine notes in 2014 when Mt. Gox collapsed, that centralized exchanges (CEXes) were the only players in the game, while in late 2022 nearly half of all exchange inflows were captured by decentralized exchanges (DEXes) such as Uniswap and Curve.

Exchange inflows of CEXes compared to

Keep reading this article on Cointelegraph.com.

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