Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion Meltdown

  • 📰 Forbes
  • ⏱ Reading Time:
  • 89 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 39%
  • Publisher: 53%

ประเทศไทย ข่าว ข่าว

ประเทศไทย ข่าวล่าสุด,ประเทศไทย หัวข้อข่าว

The DAO’s implosion and the ICO crash set the groundwork for the growth of DeFi and cambrian explosion of DAOs today, and it is hard to imagine companies like Tesla buying bitcoin before covid.

The bottom fell out from one of crypto’s fastest growing blockchains, LUNA, which promised to succeed where bitcoin failed. Its predictable collapse reverberated across the entire crypto market and is forcing investors to pick up the pieces.rypto’s history has been defined by five resets. The first came in 2014 when what was basically the only bitcoin exchange in the world, Mt. Gox, imploded following a nearly half-billion-dollar hack.

Severe bear market crashes in the nascent market for cryptocurrencies have become almost commonplace. Consider that in the last century the U.S. stock market has only experienced five bear markets in which stocks declined more than 30%. Bitcoin is only 12 years old and the cryptocurrency market has had as many severe crashes.

The South Korea-based Terra Foundation sought to solve this by using an algorithm to replace many of the techniques that give the U.S. dollar its stability. When price goes down, it creates an arbitrage opportunity to trade a UST token worth less than a dollar for $1 worth of LUNA. Theoretically. The LUNA blockchain also hosted a DeFi lending protocol, called Anchor, which paid depositors 20% yields.

At least Zhu did not get a LUNA tattoo on his arm like Galaxy Digital founder Mike Novogratz, another big backer. There is no word yet on what he plans to do with the ink. Perhaps the most disappointed competitor was Dante Disparte, the chief strategy officer at Circle, who claimed that LUNA’s downfall reflected poorly on the entire stablecoin industry, referring to the UST as a “stable-in-name-only” token. He claimed that Terra founder Do Kwon’s use of more than $3 billion in crypto collateral exposed the project as a centralized entity operating under a decentralized flag.

The good news here is that most investors don’t seem to be panicking, which should act as a shock absorber for the market. Ironically, that may be due to the fact that investors were already taking money off the table when LUNA and Terra crashed. The industry had “some de-risking in the crypto space even before Terra’s collapse,” says Nikolaos Panigirtzoglou, JPMorgan Chase’s managing director of global markets strategy.

 

ขอบคุณสำหรับความคิดเห็นของคุณ ความคิดเห็นของคุณจะถูกเผยแพร่หลังจากได้รับการตรวจสอบแล้ว

And 'I have a bridge to sell you for $1 trillion' compadre hahahahahaha

Next 1000x coin Shinja $Shinja Shib_nobi ShinjaToken

เราได้สรุปข่าวนี้มาให้อ่านอย่างรวดเร็ว หากสนใจข่าว สามารถอ่านฉบับเต็มได้ที่นี่ อ่านเพิ่มเติม:

 /  🏆 394. in TH

ประเทศไทย ข่าวล่าสุด, ประเทศไทย หัวข้อข่าว

Similar News:คุณยังสามารถอ่านข่าวที่คล้ายกันนี้ซึ่งเรารวบรวมจากแหล่งข่าวอื่น ๆ ได้

The Next Luna And UST? Crypto Market Now Braced For Another Earthquake After Bitcoin, Ethereum, BNB, XRP, Solana, Cardano, Avalanche And Polkadot Price CrashTraders are nervously watching the price of crypto lender Celsius' cel cryptocurrency which has collapsed by almost 70% over the last month as panicked sellers offload the coin...
แหล่ง: Forbes - 🏆 394. / 53 อ่านเพิ่มเติม »

Crypto’s Great Reset: How Digital Asset Investors Will Recover From The Market’s $1 Trillion MeltdownThe DAO’s implosion and the ICO crash set the groundwork for the growth of DeFi and cambrian explosion of DAOs today, and it is hard to imagine companies like Tesla buying bitcoin before covid.
แหล่ง: Forbes - 🏆 394. / 53 อ่านเพิ่มเติม »