Jim Cramer has dismissed the value of cryptocurrencies, stating that it is imploding, while calling NFTs a drain. Meanwhile, a Finbold article reported that 25 cryptocurrency exchanges have been wiped out by the recent bear market in just 30 days. In lighter news, Cardano is expected to launch to the moon with its recent successful Vasil hardfork, potentially seeing its price increase to $2.90 by September according to the deep learning algorithm PyTorch. Investors are encouraged to protect their investments from exchange insolvency by investing in a Ledger hardware wallet.
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Jim Cramer Claims Crypto has No Real Value
Financial expert Jim Cramer recently stated that there is no real value in the crypto market, pointing to the current bear market as evidence. In particular, he believes that NFTs and other assets are simply a drain on people’s investments. While he acknowledges that there are plenty of people invested in crypto, Cramer remains skeptical about the inherent value of these investments.
Crypto Market Continues to Fluctuate
Despite the concerns raised by experts like Cramer, the crypto market remains active. Bitcoin has seen a slight increase, while Ethereum and other top movers are up by several percentage points. This news is especially welcome given the recent news of several exchanges filing for bankruptcy due to overexposure, bad risk management, and other problems.
Cardano Holds Promise for the Future
One bright spot in the crypto market is the Cardano platform, which recently successfully launched its Vasil hardfork on the testnet. This could be a major step towards the launch of Vasil on the mainnet, which will help Cardano gain momentum in the DeFi and dApp spaces. Industry experts predict that Cardano could skyrocket to $2.90 by September of this year, although these predictions should be taken with a grain of salt.
Beware of Insolvency Risks
As the crypto market continues to fluctuate, investors should be aware of the risks associated with leaving their assets on exchanges. Numerous exchanges have gone bankrupt in recent weeks, and there are surely more to come. To protect yourself, experts recommend purchasing your own Ledger hardware wallet and using the Ledger Live app to manage your assets securely.
Conclusion
Despite concerns from experts like Jim Cramer, the crypto market remains active and full of potential. Platforms like Cardano hold promise for the future, although investors should beware of the risks associated with exchanges. By staying vigilant and informed, crypto investors can navigate this ever-changing landscape and stay one step ahead of the competition.
