I've read an article in the internet that cryptocurrency exchange is growing in number. As of now the number of exchange is already about 500 and counting. Other countries are now creating their very own exchange, does this means that cryptocurrencies is being acknowledged better now than ever before? And if it does, does having more exchange could greatly affect the prices of cryptocurrencies?
Yeah not only international exchanges are getting bigger but also local exchnages and I think this is the sign of good and bright future of cryptocurrency all over the world there are some investors open new exchanges to broaden and help traders to buy and sell assets. Maybe it can affect but for me the battle of fees will be there and of course more liquidity for newly born tokens and coins available on the market today and for the next generations.
I'm assuming that the local exchanges you are saying is in the Philippines right? Because I read that they have plans to open 20+ for now and then 60 in the next coming years. That's a lot of local exchanges. Even locals coins.ph now have its own trading platform so everything looks good in the Philippines. In a wider perspective, it only means that there's recognition that bitcoin and crpyto will really exploded in the next 5 years or so because of the continuous growth of crypto money. People now finds crypto a safe haven for their money investment wise or even grow their money doing trading. However, competition will be tough in this area, because some well known exchanges have a good head start and those planning to enter the field will have their hands full on how to get some slice on that big pie, a multi-billion dollar industry.