MAY 25, 2021 • 3 Min Read
The Bitcoin derivatives market is coming back to life, and retail sentiment fell at record pace during this month’s drop. But besides token prices falling across the board, DeFi projects continue to march on to record usage levels.
DeFi protocols passed their first major stress test with flying colors
Something to get your head around:
A major asset class crashed 42% in 14 days, wiping out $1.02trn in value in an orgy of liquidation of people up to 100 x levered, with very low regulation. Many tokens fell up to 70%, including unregulated lending and borrowing biz.
— Raoul Pal (@RaoulGMI) May 25, 2021
An expert’s take on the China’s mining ban
Here is its if you are just waking up in the States, four screenshots. A summary version of the memo on China FUD prepared for Sino by an extremely well-qualified outside expert. Can’t use their name or publish the full memo but I hope this helps. https://t.co/ymOslp4wB9
— Matthew Graham (@mattysino) May 25, 2021
Terra explains what happened during last week’s flash crash
1/ Extreme volatility produced a series of collateral effects across the Terra ecosystem, primarily derived from the short-term peg deviation of $UST and its impact on the volatility of $LUNA and levers of the Terra protocol. There’s a lot to unpack, so let’s dive in ?
— Terra ? powered by Luna ? (@terra_money) May 24, 2021
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