BTC
USD 16,491.74
ETH
USD 1,206.90
LTC
USD 77.12
DASH
USD 41.04
XMR
USD 136.89
NXT
USD 0.00
ETC
USD 19.89
DOGE
USD 0.09
ZEC
USD 41.47
BTS
USD 0.01

The Collapse of UST and LUNA Was Devastating, but There Is Still Hope for Crypto

0



On the bright side, somehow bitcoin didn’t completely collapse. Over 80,000 BTC from that almost $4 billion treasury was potentially sold (we can’t yet confirm if the bitcoin was actually sold, but it was sent to exchanges) during the mad dash to get UST back to $1. That caused a price reaction, sure, but then again, the broader crypto market sold off because bad things were happening to a big crypto project (LUNA was once the 10th most valuable cryptocurrency). Add on the tenuous macroeconomic environment and general risk-off sentiment in the market, and it feels almost impossible that bitcoin still boasts a market cap of over $500 billion.



Source link

Leave A Reply

Your email address will not be published.