To say that 2022 was a turbulent year in the world of crypto and all things financial would be an understatement.
There was no ‘safe harbour’ for any asset class — whether it was equities, bonds, property, precious metals, or cryptocurrencies. Even cash deposits, made attractive by rapidly rising interest rates, actually lost out when benchmarked against inflation. This marked the end of a long bull run fueled by extensive money printing, so a market downturn was no great surprise.
Despite this, throughout the turmoil, the global economy remained positive due to high levels of employment in key economies and continued market spending. Whether this will continue into 2023 will be a topic of endless debate over the New Year festive season.
Given all the talk about recessions and inflationary money, the smart money went into precious metals early in 2022, producing a strong rally. As economies suffered, there was also a flight to the US dollar, which undermined metals for six months. Since our precious metals promotion in August we have seen a strong rally, with silver and platinum producing 10–20% price growth. This is a positive story for precious metals in a recessionary world economy.
The End of Crypto 3.0
Anyone who has spent a few years in the cryptocurrency world knows that it grows in waves, and in 2022 we saw the end of the Crypto Wave 3.0. The decentralized finance (DeFi) boom started in 2019, with prices peaking in November 2021, driven by the buzz of Proof-Of-Work Tokenization Platforms such as Ethereum, Cardano, Solana, Avalanche, and others. It was driven by the hype of DeFi, non-fungible tokens (NFTs), and the promise of a new blockchain-based world, now known as Web3.
After the boom in 2021, we saw the unraveling of some of the more speculative and poorly governed businesses with the collapse of Luna, Celsius, and FTX, amongst others. Failures such as this are normal after a boom cycle driven by hype and FOMO. As legendary investor Warren Buffet says, “It’s only when the tide goes out that you learn who has been swimming naked.”
Dacxi 2022 Development
Dacxi had a vigorous development year in 2022. The strategies embedded in the company from birth meant we did not chase the speculative hype of 2021, but instead doubled down on the development of our security and platform features. And we certainly wouldn’t ever risk customer assets by lending them to third parties. We are proud to have stayed true to our core values of security, safety, and simplicity, and we’ll continue to do so in 2023 and beyond.
World Pioneer of Blockchain Wealth
Dacxi continued pioneering the next generation of the wealth industry in 2022, providing a platform with the security, features, and personalized support long-term wealth builders need. The nightmares of 2022 have laid bare the problems of working with insecure trading platforms pushing flawed trading strategies to the average person, and we are proud to have kept our customers safe through it all.
A major positive of the 2021 boom is that the world has (finally) accepted that financial assets will be tokenized, which creates the opportunity for the Dacxi Chain’s Global Crowdfunding project. This should become a US$100 billion sector and unleash the innovative power of the global crowdfunding through blockchain technology.
The Dacxi Chain project has evolved with each technological advance and will be launched in 2023, and will be the primary driver for the Dacxi Coin. Please visit our new website Dacxichain.com to read the updated Dacxi Coin whitepaper or the litepaper summary.
Building Foundations for Skyscrapers
It is said that when building a skyscraper, 50% of the time is invested in building the foundations. Without this, the building will never stand. Yet once a building breaks ground level, it can grow by a floor every week, rocketing towards the sky.
Dacxi has invested years in its development, patiently waiting for technology to develop and markets to mature to create the environment for the company to lead wealth-building and crowdfunding opportunities. Originally, they were part of the same company, yet due to the scale of these markets, they will be separated into two distinct businesses. This is a logical outcome for the company and importantly will have no impact on our clients. We will continue to offer the same client centric, quality focused and safety first experience we always have.
And we are truly excited about 2023!
Our heartfelt thanks go to everyone involved with Dacxi — we truly appreciate your support and we look forward to serving you in 2023.