In a Feb. 20 bulletin on “crypto shocks and retail losses,” the BIS reports that while the price of Bitcoin (BTC), Ether (ETH) and other currencies dropped in 2022, the number of daily active users at some exchanges including Coinbase (NASDAQ:COIN) and Binance “increased markedly” following news of the collapse of Terra and FTX. The bank suggested that “users tried to weather the storm” by moving their investments into stablecoins and other tokens likely not looking bearish at the time.
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Source: Cryptocurrency - investing.com
