in June both caused greater losses than the exchange's bankruptcy filing, the blockchain intelligence firm said this week.
Terra's failure resulted in $20.5 billion of realised losses for digital assets, while the fallout from the downfall of Celsius and 3AC wiped out $33 billion."Our data suggests that FTX's demise hasn't been crypto investors' biggest issue this year," analysts said in a blog post."Both the depegging of Terra's UST token and the collapse weeks later of Celsius and 3AC drove much bigger realised losses.
"From a market-wide point of view, the data suggests that as of now, the heaviest hitting crypto events were already behind investors by the time the FTX debacle took place," Chainalysis added. The losses reflect a brutal year for digital assets, plunged into a so-called crypto winter by sharp increases in interest rates and multiple high-profile bankruptcies.
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