2Annoยท

๐—ž๐—ฟ๐˜†๐—ฝ๐˜๐—ผ๐—บ๐—ฎ๐—ฟ๐—ธ๐˜ ๐—ด๐—ฒ๐—ฟ๐—ฎ๐—ฑ๐—ฒ ๐˜ƒ๐—ผ๐—น๐—ฎ๐˜๐—ถ๐—น


This week was a particularly turbulent one in the crypto markets. The total market capitalization of cryptocurrencies started at $1.58 trillion and hit a low of $1.13 trillion on Thursday, down 27%, but that doesn't give a full picture of what happened.


๐˜ž๐˜ข๐˜ด ๐˜ช๐˜ด๐˜ต ๐˜ฑ๐˜ข๐˜ด๐˜ด๐˜ช๐˜ฆ๐˜ณ๐˜ต?

Since the beginning of May, many cryptocurrencies have lost significant value and continue to lose value every day. For example, Bitcoin is $BTC (-0,83%) Worth 32% less than it was a week ago. Ethereum, the second largest cryptocurrency, is down 36%, while other major coins such as Binance Coin $BNB (-0,39%) (-41%) and $XRP (-0,4%) XRP (-47%) have fallen even more.


๐˜ž๐˜ฐ๐˜ณ๐˜ข๐˜ฏ ๐˜ญ๐˜ช๐˜ฆ๐˜จ๐˜ต ๐˜ฅ๐˜ข๐˜ด?

The culprit may be. $LUNA (-0,6%) Luna, a cryptocurrency that had a market cap of around 27 billion a week ago. Now $LUNA (-0,6%) but is almost worthless. Investors are dumping many other digital currencies, which has undermined confidence in crypto markets.


๐˜ž๐˜ข๐˜ณ๐˜ถ๐˜ฎ ๐˜ช๐˜ด๐˜ต ๐˜“๐˜ถ๐˜ฏ๐˜ข ๐˜ง๐˜ข๐˜ด๐˜ต ๐˜ธ๐˜ฆ๐˜ณ๐˜ต๐˜ญ๐˜ฐ๐˜ด?

Luna is a cryptocurrency that is related to the currency TerraUSD $UST (-1,32%) related. Both were issued by Do Kwon and his company Terraform Labs in the United States. TerraUSD is a so-called stablecoin whose value is supposed to be stable. Kwon's promise: At any point in time, one TerraUSD unit can be exchanged for one dollar worth of Luna coins. TerraUSD, on the other hand, lost its price stability in early May for unknown reasons. The value of Luna declined as a result. At the same time, the case undermines public trust in stablecoins.


๐˜ˆ๐˜ถ๐˜ด๐˜ธ๐˜ช๐˜ณ๐˜ฌ๐˜ถ๐˜ฏ๐˜จ ๐˜ข๐˜ถ๐˜ง ๐˜œ๐˜ฏ๐˜ต๐˜ฆ๐˜ณ๐˜ฏ๐˜ฆ๐˜ฉ๐˜ฎ๐˜ฆ๐˜ฏ/๐˜Ž๐˜ณ๐˜ฐรŸ๐˜ข๐˜ฏ๐˜ญ๐˜ฆ๐˜จ๐˜ฆ๐˜ณ

Major investors such as Elon Musk, the CEO of Tesla ( $TSLA (-9,97%) ), Brian Armstrong, the CEO of Coinbase ($COIN (-5,78%) ), MicroStrategy chief executive Michael Saylor, and twins Tyler and Cameron Winklevoss are the "Horsemen of Cryptocurrencies" or the "Crypto Bros," whose cumulative crypto assets dropped by $20 billion during the crash.


The $1.5 billion investment of $TSLA (-9,97%) with Bitcoin has failed; Saylor's assets have fallen from $8.5 billion six months ago to possibly less than a billion dollars and $COIN (-5,78%) was trading 84% lower than when it went public.


๐˜Š๐˜ฐ๐˜ช๐˜ฏ๐˜ฃ๐˜ข๐˜ด๐˜ฆ

This week, Coinbase $COIN (-0%) , one of the largest cryptocurrency exchanges in the world, released its quarterly results, and they did not meet analysts' expectations.


๐ŸŸฅ EPS: -$1.26 vs. $0.91 expected (-238.20%)

๐ŸŸฅ Revenue: $1.17 billion vs. $1.48 billion expected (-20.98%)


The number of monthly users dropped by 19%. What worries investors and users even more is the update about the platform's risk. They warn that in case of bankruptcy, users could lose all cryptocurrencies in their accounts.




The crypto platform Binance has banned the trading of UST and LUNA. What do you guys think about the ban?


๐ŸŸฅ $UST (-1,32%) TerraUSD, 0.1705 (๐Ÿ”ฝ-82.94%)*

๐ŸŸฅ $LUNA (-0,6%)Terra, 0.0000516 (๐Ÿ”ฝ-99.99%)*


Sources:

https://bit.ly/3L4wi7y

https://bit.ly/3w9yVkl

https://bit.ly/3FKFkFW

*Values: https://coinmarketcap.com/ at 10:00 CEST 13.05.2022 7-day.

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14 Commenti

immagine del profilo
No shit, crypto market is volatile? ๐ŸŒ
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immagine del profilo
The reason for the collapse of TerraUSD was probably a targeted attack. Currently, Terra is apparently discussing various options, such as resetting the network to before the attack https://twitter.com/stablechen/status/1525023238895837184?t=8y5E5jPiERAAoD04QFqfLw&s=19 . Whether this works ... ๐Ÿคทโ€โ™‚๏ธ Accordingly, it also makes sense to suspend trading in the current market situation. Binance confirms to work together with Terra. Possibly a solution will be found to restore at least part of the deposits. https://www.binance.com/en/support/announcement/f68451879a1841a6a0f44025735d9236?ref=AZTKZ9XS&utm_source=BinanceTwitter&utm_medium=GlobalSocial&utm_campaign=GlobalSocial
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immagine del profilo
@DonkeyInvestor Many thanks for the input!
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immagine del profilo
@DonkeyInvestor Ah. I was wondering why UST was no longer tradable
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immagine del profilo
@MarketNewsUpdate please, you're welcome.
Your DonkeyMarketNewsUpdateUpdater
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immagine del profilo
@DonkeyInvestor But there's nothing concrete regarding the attack, is there?
Blackrock and Citadel had denied it ๐Ÿ‘€
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immagine del profilo
@Doomer I actually haven't followed it in detail. I'm still pissed that this happened within the 30 days in which I wanted to park a few $ in a stablecoin ๐Ÿคฌ
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immagine del profilo
@DonkeyInvestor Yes. There's nothing you can do... Although I'm curious to see how they're going to "reboot" the network anyway! Maybe you're still in luck ๐Ÿ˜…
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immagine del profilo
@Doomer I don't believe it. Well, just another lesson learned ...
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immagine del profilo
@MarketNewsUpdate
Could it be that you actually wanted to link$LUNA ($terra entered) in your post and not$LUNA ($luna entered)? A final quality control of the posts is essential for the range.
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immagine del profilo
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