The bright side of Evergrande’s collapse? More crypto volatility By Cointelegraph
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As Evergrande Group, China’s heavily indebted property developer, files for bankruptcy in the United States, many are concerned about how this will impact the global economy and cryptocurrencies. The situation represents one of the largest debt faultings in the world and will have sizable ramifications.
However, it shouldn’t come as too much of a surprise that China’s real estate agent running out of money to cover debt is causing worry within the crypto space. While many fear Evergrande’s collapse will cause a knock-on effect for other tokens and coins already vulnerable in financial markets, the increased crypto volatility could be the silver lining for investors.
Daniele Servadei Is the 20-year-old founder and CEO of Sellix, an Italian e-commerce platform that has processed more than $75 million in transactions for more than 2.3 million customers worldwide. He’s also attending the University of Parma for a degree in computer science.
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As Evergrande Group, China’s heavily indebted property developer, files for bankruptcy in the United States, many are concerned about how this will impact the global economy and cryptocurrencies. The situation represents one of the largest debt faultings in the world and will have sizable ramifications.
However, it shouldn’t come as too much of a surprise that China’s real estate agent running out of money to cover debt is causing worry within the crypto space. While many fear Evergrande’s collapse will cause a knock-on effect for other tokens and coins already vulnerable in financial markets, the increased crypto volatility could be the silver lining for investors.
Daniele Servadei Is the 20-year-old founder and CEO of Sellix, an Italian e-commerce platform that has processed more than $75 million in transactions for more than 2.3 million customers worldwide. He’s also attending the University of Parma for a degree in computer science.
Continue Reading on Coin Telegraph
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