The crypto market is full of uncertain and exciting events, so it should come as no surprise that news about digital coins is at the center of everyone’s attention. Recent days were not very prolific for cryptos as the majority of them experienced slight price drops. However, the news about Coinbase was on top of the chart these days since it received approval to operate in both Australia and Singapore. Also, this crypto exchange has managed to form a partnership with Google in terms of crypto cloud payments. 

What’s more, According to the Wall Street Journal, the Bank of New York Mellon, which is one of the oldest institutions in the USA, has stated that it will soon start to receive different digital coins from customers such as Bitcoin and Ethereum. As for CNN, it has decided to stop every process in regard to its Vault web3 project which was established last June and is a collection of NFTs based on CNN's archive. Also, the European Union gave approval to the Markets in Crypto Assets Regulation legislation on Monday which comprises different rules for crypto miners and issuers, and more importantly, capital requirements for those companies who hold stablecoins. 

How Cryptos Performed In Recent Days

We have to say that recent days were not very productive for the majority of digital coins. For instance, the price of Bitcoin fell below $19,100 on Monday, which was followed by a tumble in Ethereum as it fell from $1,300 to $1,280 in a single day. The downfall of Ethereum was mainly induced by its merge to a proof-of-stake network whose main objective is to provide an energy-efficient environment and make the system faster. 

The most popular cryptocurrencies in terms of market cap include Bitcoin, Ethereum, Tether, USD Coin, BNB, XRP, Binance USD, and Cardano. However, the majority of them experienced considerable price drops in the past week. Due to the fact that cryptos are characterized by a highly volatile nature, their price fluctuates constantly, and it is very difficult to foresee the upcoming events in this regard. Generally, the fundamentals of digital coins as well as technical indicators are quite different, but the main goal of investors is to focus solely on the same key objectives. 

Novice traders often fail to realize the importance of education when it comes to the crypto market. It is crucial to learn what is the best time to sell digital coins in order to generate the highest number of profits. Without a proper strategy, it is pretty much impossible to achieve successful results in this task. For instance, it is a common practice to look for those digital coins that have huge prospects in the long run and invest a big portion of your balance there. If some cryptos experience price drops at some point, they will eventually rebound after some time, so you have to be ready to act accordingly. 

A vast number of experts were hoping that digital coins would be perfect insurance against inflation, but we have to say that they failed to fulfill this expectation. Traders were unable to utilize cryptos as a hedge against inflation. Instead, they've trended with the broader indexes.

Is Crypto Becoming Decentralized?

There is an ongoing argument that the crypto ecosystem is becoming more decentralized which is mainly induced by the Ethereum merge as it switched to a proof-of-stake system. As a result, transactions are now approved by validators and 60% of these validators are managed by only four companies, resulting in considerable issues regarding centralization. However, the developers are well aware of these problems, and they are doing everything in order to resolve them. 

The governmental institutions are saying that this fact should not come as a surprise since the process of centralization is a natural evolution of the financialization of cryptocurrency markets. Also, it is worth noting that the largest decentralized autonomous organizations (DAO) will most probably become centralized firms in the near future. Considering the above-mentioned facts, the digital assets market will soon start to manufacture digital coins that follow certain rules and regulations. Hence, it will significantly resemble the centralized banking world.