Amid the FTX collapse, cold wallet makers Ledger and Trezor are having record sales

After one of the world’s largest cryptocurrency exchanges collapsed and began bankruptcy proceedings, sales of stablecoins (Digital currencies whose price is pegged to fiat, that is, bank currency.) skyrocketed. Especially those whose value is backed by real assets (securities, currency, etc.).

Most likely, investors who did not have time to withdraw their funds from the FTX will be left with nothing.

For example, only Genesis Trading, a market maker and credit subsidiary of Digital Currency Group has about 175 million dollars blocked in the trading account at FTX.

Moreover, several other big crypto companies have been on the verge of closure, like BlockFi. Crypto.com and others are downsizing. Genesis Global Capital is suspending withdrawals.

There’s the general mood of panic and a high risk of finding yourself without savings. Investors rushed to withdraw their funds in full, cashing out, or saving in the so-called cold wallets. These are hardware solutions allowing users to securely store private keys offline.

Ledger and Trezor, the biggest makers of cold purses, have reported record sales amid the collapse of FTX. By the way, you can read about the pros and cons and features of different crypto wallets here.

Ledger and Trezor’s success

Ledger had its highest sales week ever last week. This was reported by the Director of Experience at the company, Ian Rogers.

A Bitcoin Analyst at Trezor, Josef Tetek, says that hardware wallets producer has “indeed seen an exponential increase in sales since November 7.”

DEXs rise

According to Dune statistics, the trading volume on decentralized exchanges (DEXs) for the last 7 days was $25 billion, and trailing ordersA trailing stop order allows you to place an order when a certain percentage of the market price is reached in conditions of increased market volatility. rose by 41%.

The top five are:

1. Uniswap
2. Curve
3. DODO
4. Balancer
5. Sushiswap