CoinDCX, a significant cryptocurrency exchange, has stopped the withdrawal activity for its users. This is because the Indian investors are already going through a dilemmatic situation where they are facing losses with decreased cryptocurrency value due to the recent events. CoinDCX later also said that investors don’t need to worry as everything is under control and there is no issue. The funds of the investors are not in jeopardy. They are safe with them.
The co-founder and CEO of CoinDCX, known as Sumit Gupta, stated that the company has the support of global investors. Moreover, the company is working towards bringing the revolution in the currency by collaborating with different trading platforms and setting up different DCX ventures. They are also extending their workforce to execute their vision in reality. CoinDCX said that they are working to create the next generation of cryptocurrency.
He also said that the crypto industry is going through a down phase. He stated that “crypto winter is here.” The ambitious and reliable projects with high potential are in jeopardy right now. The whole market is looking unstable and under extreme volatility. However, the crypto market is undoubtedly going to defy these challenging times. He quoted J. Kennedy’s saying, ‘when the going gets tough, the tough get going.’ He also assured the investors and traders about their respective investments. Finally, he mentioned that the operations of CoinDCX are running normally.
He also stated that we had faced many difficult times so we will defy this. He also mentioned how he and the co-founder of CoinDCX, Neeraj Khandelwal, follow a bullish approach and are determined to cross this hurdle too. This halt on withdrawal came when several other crypto companies like Celsius Network stopped the crypto withdrawals. They also stopped the digital asset transfer, which stirred several talks about making guidelines for protecting the investment done by people. As a result, cryptocurrency has become a new form of investment. However, it is also very volatile. As per the reports, the crypto industry’s valuation is around 2 trillion USD.
