While uncertainty continues in the markets, liquidity problems arise. We have to be careful. I don't know about these platforms but I expect such issues.
There seem to be problems with Three Arrows Capital, Celsius and CoinFLEX.
CoinFLEX halts withdrawals amid 'extreme market conditions'
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These are quite common symptoms in a bear market. Halting withdrawal, limiting it in certain cases, etc, and even by some reputed exchanges are the hallmarks of the bear cycle.
Frankly, it is a good choice to stop withdrawals for a certain period of time, rather than collapse due to liquidity problems. But the longer this period goes on, the bigger the problem becomes. Surviving in a bear market is difficult.
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Freedom of contract is the basic tenets of Blockchain and decentralization. The exchanges; the exchanges should always uphold the primacy of the procedure without being influenced by the market situation(or manipulation). Otherwise, we are no different from the traditional market.
I completely agree.
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It is also common in an immature market.
This is why we need to build a lot more depth with all that we are doing.
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Oh, hopefully this is just temporary.
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I hope it's temporary. But there are too many projects that will not survive the bear market.
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That's right, only the strong ones will survive this. Just remembered I have a few dollars in Coinflex, lol!
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I think they said it will be back to normal on Monday, I hope there is no delay.
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And that we shall see :) Thank you
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Liquidity is one of the basic tenets of a monetary system and its different components. We also have sophistication and depth. Without those, challenges will arise.
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