Crypto yield platform Freeway stops withdrawals

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Crypto yield platform Freeway stops withdrawals, unprecedented volatility in forex and crypto market

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Small cap platform that promised users approximately 43% in yearly awards puts the brakes on withdrawals as well as scrubs team from site.

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Freeway, a crypto staking system, introduced late Sunday[10-23-2022] that it had paused withdrawal solutions,......

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citing volatility in the crypto and foreign exchange markets as well as sending its token into a free-fall.

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The Freeway (FWT) token is down approximately 80% in the hrs because the announcement.

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The firm cited "unprecedented volatility" in the forex and also crypto market as the reason.

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Freeway was not a significant or well-known project, with a market cap of less than $70 million before .......

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the crash and also currently $10 million at current trading costs.

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Freeway declared it had $160 million in total value secured by means of a number published on its website.

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On-chain information suggests that most of the biggest of the 4,342 token owners received it throughout an airdrop and also were or otherwise still.

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The largest whales on the system lost just over $16,500, using prices data from prior to Sunday's[10-23-2022] market crash.

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As noted by Twitter personality FatManTerra, the administrator of the Freeway website remains in the procedure of deleting team names from the page.

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The system announced its plans to "diversify its possession base" and "handle direct exposure to future market fluctuations as well as volatility."

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Everything You Wanted to Know about Cryptocurrency, Before Invest

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References:- 1. coindesk.com 2. coincodecap.com

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Crypto yield platform Freeway stops withdrawals

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