The cryptocurrency industry is at a pivotal moment due to recent failures in legacy banking alongside significant events within the crypto world, as mentioned by the founder of Mad Lads.
Armani Ferrante, the founder and CEO of the newly launched Backpack cryptocurrency exchange, detailed in a Cointelegraph interview how the platform's success signals a shift towards more reliable crypto exchanges.
This assertion was underscored by Backpack's exceptional performance, crossing $1 billion in trading volume just four days post-launch, which Ferrante views as clear proof of the market's readiness for trustworthy trading platforms.
Although the trading volume slightly decreased to $296 million in the 24 hours leading up to February 27, based on CoinGecko data, this milestone is indicative of the evolving desires within the crypto industry for integrity and reliability.