From the desk of Louis Sykes @haumicharts
This week has seen one of the largest blow-ups in crypto history.
I think the severity of the Luna collapse, in relative terms, can’t be understated.
From trading at $100 a month ago to 2 cents today.
From being the 3rd largest coin in the asset class two weeks ago to currently testing support at zero.
From an 80% drawdown in a “stable” coin that’s supposed to be pegged to $1 USD.
There’s an incredible amount of wealth that’s been lost in this blow-up.