A lot has happened in the last couple of weeks. What's your take on what has happened in the broader markets, and specifically, the stablecoin market?First and foremost, we saw a failed attempt in Luna to run an algorithmic stablecoin at a global scale. Since then, we've seen investors flee to regulated stablecoins that use a centralized asset-backed model. Let's call that a flight to safety.
If the value of gold goes down, you end up with more gold, and you still maintain the peg. If the value of gold goes up, you end up with less gold and maintain the peg. However, the problem with that model is that if the value of the gold goes to zero, you need an infinite amount of gold to maintain the peg. And that's what happened with terra luna.
abra DFBTC-AOM
abra With a title like that one can tell it was an orchestrated collapse
abra DFBTC $AOM
abra Sadly, a lot will say it went down because of the bear market and a lot would buy again if made by the same developer.
🪬🦉
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheStarPhoenix - 🏆 253. / 63 Read more »