The implosion of FTX FTT/USD The cryptocurrency trading platform has resonated across the digital currency sector, although some market participants have benefited from the collapse.

What happened: According to a report by ARK Investment Managementtraders are increasingly moving away from centralized intermediaries to secure, decentralized exchanges to benefit from their transparency.

Since the beginning of 2020, the transaction volume on decentralized exchanges (DEXs) has increased steadily compared to centralized exchanges (CEXs).

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In February 2022, the percentage of trades executed on the CEX reached 25%. After falling in February, the DEX to CEX ratio rose 40% in November from 11.8% to 16.1%. This suggests that more traders are realizing the transparency that DEXs offer.

In an interview with Bloomberg, CEO of Ark Cathie Wood said The recent losses by FTX and other leading crypto firms only serve to strengthen the infrastructure for the Apex cryptocurrency. Bitcoin BTC/USD from it “it smells like roses,” she said, reaffirming the price prediction of $1 million for BTC by 2030.

This comes as wood bought over 176,000 shares from Grayscale Bitcoin Trust GBTC/USD at an estimated value of $1.46 million. The purchase was made through the ARK Next Generation Internet ETF ARKW.

Price promotion: Apex Crypto Bitcoin was trading lower at $17043.42 on Monday evening, according to Benzinga Pro.

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