Ayush Khetan, CEO, Zelta Tech Discusses Scaling Meteoric Highs in Cryptocurrency Market?

Understanding the emerging marketing and regulatory uncertainty, cryptocurrency holders are responding to further exacerbate discussing geopolitical turmoil and unrealistic expectations of superficial returns in the cryptocurrency space.?

During the conference session, Ayush Khetan said, "the United States itself is promoting the regulatory uncertainty in the crypto space with crypto-related litigations. It is leading to an increase in the frequency of lawsuits and bringing every whale investor under the umbrella of law enforcement, SEC, class action lawsuits, and private litigation, hindering the freedom of transaction."?

Understanding the year-on-year number of enforcement actions from 2013 to 2021. In total, there are 120+ complaints or orders, including Delinquent Filing, Litigation, Trading Suspension, and Administrative Proceeding filed. To overcome the issues in various geographies, the banking sector and financial institutes have contributed to changing the primary platform to the newly created platform for sending payment messages and exchanging payment data.?

"The banking sector and financial institutes are bringing in the ISO 20022, in response to the increase in prolific and gain leading to an increased adoption rate of cryptocurrency. It is a positive effort where banks and financial institutes are adopting the decentralised way of transaction. The banking sector and financial institutes are shifting from SWIFT messages to a common platform for electronic data exchange, i.e., ISO 20022. The complete adoption of ISO 20022 will complete by November 23, 2022, making cryptocurrency adoption in the healthy ecosystem possible induced in decentralisation." Ayush Khetan said.

The conference session also discussed the Tera Luna crash and its effect on the meteoric highs.?

Ayush Khetan said, "When we look at the Tera Luna case, it was trading at 93.6 and suffered a major drop of 95+% in only 20 days affecting the TVL in DeFi with 67% of the drop from $275 billion on November 9, 2021, to $86 billion on June 19, 2022. Other cases accounting for the same such as the Celsius debacle, FTX rescuing BlockFi, and the collapse of 3AC are also the potential fallback in the space." ?

Following the crash, Morgan Stanley in June’22 said, “Activity across eight of the most important VC bellwether markets over the past 12 months has reset 50% from peak9; worsening performance of some of the largest tech/crypto investors who are prioritizing existing holdings over deploying further dry powder, and the exit of ‘tourist capital’ as both token and equity investments become more challenging during a crypto bear market – a similar pattern seen during 2018/19”.

Ayush Khetan seconded Morgan Stanley's statement and continued, "But with the acceptance of ISO 20022 by major cryptocurrencies including Cardano (ADA), Ripple (XRP), Algorand (ALGO), and Hedera Hashgraph (HBAR) can be the only point where major acceptance of the international financial messaging standard by Ethereum (ETH) and other market movers can upshot the fallen cryptocurrency economy to $1 trillion or beyond."?

The barred inflation and increased interest rates are to profligate the cryptocurrency market and its adoption. The market will be upshot once the Fed cools its aggression and decides not to increase the rates by 1% for the coming year.?