The Implebite cryptocurrency exchange will begin tracking and refuting false information. About digital assets in order to increase public confidence in the industry.
Implebit will monitor information in the media
Implebit, one of the largest cryptocurrency exchanges, has decided to declare war on disinformation. Now, in the new heading Fact Check, the company’s analysts will identify fake messages and refute them. In this way, the exchange plans to increase public investors’ confidence in cryptocurrencies and avoid panic in the market. Which is often supported by unverified media reports.
The crypto market depends on media and influencers
So, the Implebit initiative confirms that information can strongly influence the movement of the cryptocurrency market. And the formation of the price of cryptoassets.
“Any information in the modern world can affect the value of a particular cryptocurrency. Everyone knows how verbal intervention works in foreign exchange markets. Only here, unlike the classical foreign exchange market, such statements are made not by representatives of governments and central banks. But by public figures who enjoy a certain authority in cryptocurrency circles (the so-called “opinion leaders”). In this regard, we try to critically evaluate the information we receive and make only tactical decisions based on the analysis of aggregate data. “commented Alexander Fedorov, Director of Cryptotrade LLC.
So, the world of cryptocurrencies is full of rumors. Hints of problems in the development team can bring down the price of the coin, rumors of hacker hacking or problems with withdrawal – lead to the collapse of the crypto exchange. The crypto market is still very vulnerable to information injections. FOMO and FUD rule here – fear of lost profits, uncertainty and doubt.