This week will go down in the crypto history books as one of the most chaotic weeks. Over the last few weeks, the markets have shown weakness, bearish conditions were evident. This week we saw violent crashes all across the board. BTC reached as low as $26k, ETH reached as low as $1700, and some alts were down 60%-90%. But, it was Luna & UST that stole the show. Luna crashed from $114 to $0.0003 within a couple days and UST lost its peg from $1 going as low as $0.01. The marketcap went from around $45B to $200M within those few days. Aside from this, there were other events that simultaneously took place but got overshadowed, so let’s get into it.
$40 Billion Implosion - Weekly Crypto Wraps
$40 Billion Implosion - Weekly Crypto Wraps
$40 Billion Implosion - Weekly Crypto Wraps
This week will go down in the crypto history books as one of the most chaotic weeks. Over the last few weeks, the markets have shown weakness, bearish conditions were evident. This week we saw violent crashes all across the board. BTC reached as low as $26k, ETH reached as low as $1700, and some alts were down 60%-90%. But, it was Luna & UST that stole the show. Luna crashed from $114 to $0.0003 within a couple days and UST lost its peg from $1 going as low as $0.01. The marketcap went from around $45B to $200M within those few days. Aside from this, there were other events that simultaneously took place but got overshadowed, so let’s get into it.