Thursday, March 23, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News Blockchain

What does UST’s De-Pegging Mean for the Wider Market? – Blockchain News, Opinion, TV and Jobs

by ethozedge
May 11, 2022
in Blockchain
Reading Time: 2 mins read
A A
0
Share on FacebookShare on Twitter


Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

The impact of this event on the wider market is very significant. Soon we will find out which DeFi projects had their treasuries in anchor or UST, hence resulting in prominent protocols going under.

There is extreme fear across the crypto market, as Bitcoin has bounced off $30k – a key, psychological level. In addition to ongoing macro headwinds, there is now a fundamental risk to the crypto industry as the UST stablecoin has de-pegged from $1. This resulted in extreme panic, as investors feared the Luna Foundation Guard selling their reserves including 80,000 Bitcoin. Data from Glassnode shows that 80,000 Bitcoin has been removed to exchanges, showing that LFG have been selling their Bitcoin in order to raise funds to push the price of UST back up.

Also, the forthcoming response over the coming months from regulatory authorities will likely be ruthless. Janey Yellen, the US Treasury Secretary, coincidentally spoke yesterday during a Senate Banking Committee about the potential threat to financial stability posed by unregulated cryptocurrency markets.

Yellen said, “I think that simply illustrates that this is a rapidly growing product and that there are risks to financial stability and we need a framework that’s appropriate.”

Furthermore, Todd Phillips, Director of financial regulation and corporate governance at the Centre for American Progress, said “investors in stablecoins deserve the same kinds of protection as they would with money market funds. This is $18 billion in wealth that we’re seeing evaporate before our eyes, and people are losing money.”

Although the future of Luna and UST is bleak with trust being lost, Do Kwon said he a new plan will be revealed soon.

Today’s U.S. CPI data will be very important for the market going forward over the next few months – a higher than expected reading will signal to the Federal Reserve they have more work to do. However, if the reading is as expected this could signal that inflation has peaked, hence potentially leading to some short-term upside.





Source link

Tags: bitcoin newsBlockchaincrypto analysiscrypto newsDePeggingEthoz EdgeJobsLatest bitcoin newslatest crypto newsMarketNewsOpinionUSTswider
Share76Tweet47

Related Posts

Kraken Halts ACH Deposits and Withdrawals via Silvergate

by ethozedge
March 23, 2023
0

In a move that has disrupted the cryptocurrency industry, Kraken, one of the world’s largest cryptocurrency exchanges, has announced that...

US Officials Consider Expanding Deposit Insurance Coverage

by ethozedge
March 22, 2023
0

US officials are reportedly studying ways to expand deposit insurance coverage to protect depositors and prevent capital from being pulled...

The rise of Web3 Storytelling

by ethozedge
March 22, 2023
0

Storytelling has been one of the crucial ingredients in driving the adoption of new technologies. For example, early role-playing games...

How to Become Web3 Architect?

by ethozedge
March 21, 2023
0

Web3 is one of the most discussed terms in the domain of technology right now. Candidates who want to become...

DeFi Hacker Returns $5.4M to Euler Finance

by ethozedge
March 20, 2023
0

On March 18, Euler Finance, a decentralized finance (DeFi) platform, received a surprising gift from the hacker who had drained...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

Coinbase’s Brian Armstrong criticizes US crypto regulation, SEC behavior in Twitter Space

March 23, 2023

Australian Crypto Exchange Considering Setting Up Hong Kong

March 23, 2023

Florida school principal fired for showing students Michelangelo’s ‘pornographic’ David sculpture

March 23, 2023

Solana (SOL) and Avorak AI (AVRK)

March 23, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$28,441.003.50%
  • ethereumEthereum(ETH)$1,822.694.29%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.36%
  • binancecoinBNB(BNB)$330.652.10%
  • usd-coinUSD Coin(USDC)$1.00-0.26%
  • rippleXRP(XRP)$0.4481905.40%
  • cardanoCardano(ADA)$0.3735472.89%
  • dogecoinDogecoin(DOGE)$0.0778774.43%
  • staked-etherLido Staked Ether(STETH)$1,818.484.31%
  • matic-networkPolygon(MATIC)$1.142.01%
  • solanaSolana(SOL)$22.263.04%
  • binance-usdBinance USD(BUSD)$1.00-0.15%
  • polkadotPolkadot(DOT)$6.344.02%
  • litecoinLitecoin(LTC)$93.806.69%
  • shiba-inuShiba Inu(SHIB)$0.0000112.16%
  • tronTRON(TRX)$0.0656388.98%
  • avalanche-2Avalanche(AVAX)$17.614.45%
  • daiDai(DAI)$1.00-0.30%
  • uniswapUniswap(UNI)$6.272.41%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,517.003.66%
  • chainlinkChainlink(LINK)$7.656.14%
  • cosmosCosmos Hub(ATOM)$11.732.90%
  • ToncoinToncoin(TON)$2.20-7.91%
  • leo-tokenLEO Token(LEO)$3.390.53%
  • ethereum-classicEthereum Classic(ETC)$20.913.44%
  • moneroMonero(XMR)$157.024.74%
  • okbOKB(OKB)$45.13-1.21%
  • bitcoin-cashBitcoin Cash(BCH)$129.011.82%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • stellarStellar(XLM)$0.0929831.79%
  • filecoinFilecoin(FIL)$5.974.63%
  • AptosAptos(APT)$13.290.35%
  • true-usdTrueUSD(TUSD)$1.01-0.08%
  • lido-daoLido DAO(LDO)$2.33-2.30%
  • hedera-hashgraphHedera(HBAR)$0.0628663.34%
  • quant-networkQuant(QNT)$127.581.67%
  • nearNEAR Protocol(NEAR)$2.054.46%
  • crypto-com-chainCronos(CRO)$0.0703401.94%
  • vechainVeChain(VET)$0.0237424.77%
  • ArbitrumArbitrum(ARB)$1.34-73.38%
  • blockstackStacks(STX)$1.180.05%
  • algorandAlgorand(ALGO)$0.2213042.68%
  • internet-computerInternet Computer(ICP)$5.232.31%
  • apecoinApeCoin(APE)$4.184.06%
  • fantomFantom(FTM)$0.4987625.08%
  • the-graphThe Graph(GRT)$0.1535436.14%
  • eosEOS(EOS)$1.165.66%
  • the-sandboxThe Sandbox(SAND)$0.674.34%
  • decentralandDecentraland(MANA)$0.625.71%
  • aaveAave(AAVE)$77.502.40%
  • immutable-xImmutableX(IMX)$1.222.21%
  • elrond-erd-2MultiversX(EGLD)$43.733.53%
  • tezosTezos(XTZ)$1.174.45%
  • flowFlow(FLOW)$1.033.21%
  • theta-tokenTheta Network(THETA)$1.055.09%
  • fraxFrax(FRAX)$1.00-0.31%
  • axie-infinityAxie Infinity(AXS)$8.733.75%
  • neoNEO(NEO)$12.607.63%
  • kucoin-sharesKuCoin(KCS)$9.080.82%
  • havvenSynthetix Network(SNX)$2.710.32%
  • conflux-tokenConflux(CFX)$0.3809490.22%
  • optimismOptimism(OP)$2.49-2.32%
  • rocket-poolRocket Pool(RPL)$40.264.05%
  • mina-protocolMina Protocol(MINA)$0.888.27%
  • BitDAOBitDAO(BIT)$0.530.41%
  • gatechain-tokenGate(GT)$5.403.27%
  • paxos-standardPax Dollar(USDP)$1.00-0.26%
  • curve-dao-tokenCurve DAO(CRV)$0.972.61%
  • terra-lunaTerra Luna Classic(LUNC)$0.0001271.08%
  • bitcoin-cash-svBitcoin SV(BSV)$37.865.41%
  • usddUSDD(USDD)$1.00-0.10%
  • klay-tokenKlaytn(KLAY)$0.2341393.44%
  • dashDash(DASH)$63.887.76%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.952.58%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.791.15%
  • chilizChiliz(CHZ)$0.1231053.02%
  • gmxGMX(GMX)$75.41-3.53%
  • sapphireSapphire(SAPP)$0.7035.32%
  • ecasheCash(XEC)$0.0000324.67%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • makerMaker(MKR)$681.451.11%
  • frax-shareFrax Share(FXS)$8.212.17%
  • iotaIOTA(MIOTA)$0.2180313.74%
  • bittorrentBitTorrent(BTT)$0.0000012.43%
  • singularitynetSingularityNET(AGIX)$0.4935220.38%
  • huobi-tokenHuobi(HT)$3.640.67%
  • compound-ethercETH(CETH)$36.614.71%
  • Bitget TokenBitget Token(BGB)$0.3948661.68%
  • EdgecoinEdgecoin(EDGT)$1.01-0.33%
  • xdce-crowd-saleXDC Network(XDC)$0.038046-3.06%
  • Tokenize XchangeTokenize Xchange(TKX)$6.513.08%
  • pax-goldPAX Gold(PAXG)$1,997.840.54%
  • trust-wallet-tokenTrust Wallet(TWT)$1.211.00%
  • tether-goldTether Gold(XAUT)$2,001.381.66%
  • render-tokenRender(RNDR)$1.34-3.72%
  • mask-networkMask Network(MASK)$6.1721.59%
  • zilliqaZilliqa(ZIL)$0.0287314.70%
  • radixRadix(XRD)$0.04571214.85%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • loopringLoopring(LRC)$0.36960510.26%
  • compound-usd-coincUSDC(CUSDC)$0.0229040.01%
  • osmosisOsmosis(OSMO)$0.821.77%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • 1inch1inch(1INCH)$0.522.09%
  • thorchainTHORChain(RUNE)$1.455.22%
  • arweaveArweave(AR)$8.590.71%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,952.974.46%
  • oec-tokenOKC Token(OKT)$23.234.11%
  • zcashZcash(ZEC)$38.179.69%
  • convex-financeConvex Finance(CVX)$5.442.08%
  • fetch-aiFetch.ai(FET)$0.3896661.45%
  • enjincoinEnjin Coin(ENJ)$0.4051614.36%
  • casper-networkCasper Network(CSPR)$0.0372692.20%
  • dydxdYdX(DYDX)$2.644.47%
  • nexoNEXO(NEXO)$0.725.88%
  • kavaKava(KAVA)$0.89-0.75%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.10%
  • btse-tokenBTSE Token(BTSE)$2.410.62%
  • DeFiChainDeFiChain(DFI)$0.572.40%
  • EthereumPoWEthereumPoW(ETHW)$3.575.71%
  • FlareFlare(FLR)$0.0319230.17%
  • basic-attention-tokenBasic Attention(BAT)$0.2548325.86%
  • FLOKIFLOKI(FLOKI)$0.0000383.74%
  • cdaicDAI(CDAI)$0.022251-0.12%
  • ethereum-name-serviceEthereum Name Service(ENS)$14.022.59%
  • nemNEM(XEM)$0.0401193.80%
  • DogechainDogechain(DC)$0.001787-24.98%
  • WEMIXWEMIX(WEMIX)$1.452.74%
  • MagicMagic(MAGIC)$1.67-6.61%
  • Nexus MutualNexus Mutual(NXM)$52.144.11%
  • woo-networkWOO Network(WOO)$0.2070494.69%
  • qtumQtum(QTUM)$3.277.32%
  • injective-protocolInjective(INJ)$4.262.71%
  • holotokenHolo(HOT)$0.0019176.34%
  • Aleph ZeroAleph Zero(AZERO)$1.540.62%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.0000000.90%
  • theta-fuelTheta Fuel(TFUEL)$0.0550574.57%
  • decredDecred(DCR)$22.0013.37%
  • terra-luna-2Terra(LUNA)$1.36-1.16%
  • galaGALA(GALA)$0.0426374.36%
  • ravencoinRavencoin(RVN)$0.0269453.26%
  • kusamaKusama(KSM)$35.115.46%
  • celoCelo(CELO)$0.632.60%
  • compound-governance-tokenCompound(COMP)$44.223.13%
  • oasis-networkOasis Network(ROSE)$0.0598024.45%
  • bitcoin-goldBitcoin Gold(BTG)$17.043.58%
  • KaspaKaspa(KAS)$0.0169014.66%
  • bloxBlox(CDT)$0.43475915.33%
  • Gains FarmGains Farm(GFARM2)$8,150.470.26%
  • gnosisGnosis(GNO)$112.683.75%
  • ankrAnkr Network(ANKR)$0.0352276.23%
  • olympusOlympus(OHM)$10.350.30%
  • Access ProtocolAccess Protocol(ACS)$0.0096661.69%
  • AstarAstar(ASTR)$0.0657021.95%
  • yearn-financeyearn.finance(YFI)$8,726.082.97%
  • linkLINK(LN)$42.274.05%
  • balancerBalancer(BAL)$7.087.39%
  • audiusAudius(AUDIO)$0.2859072.70%
  • BeldexBeldex(BDX)$0.054459-1.71%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.0000002.29%
  • harmonyHarmony(ONE)$0.0220898.19%
  • nucypherNuCypher(NU)$0.2086531.47%
  • liquity-usdLiquity USD(LUSD)$1.02-0.13%
  • chiaChia(XCH)$38.541.00%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.141.07%
  • stepnSTEPN(GMT)$0.4148045.72%
  • SSV NetworkSSV Network(SSV)$36.440.14%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • huobi-btcHuobi BTC(HBTC)$28,230.003.15%
  • Gains NetworkGains Network(GNS)$8.326.92%
  • omisegoOMG Network(OMG)$1.794.04%
  • convex-crvConvex CRV(CVXCRV)$0.864.32%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • AstraferAstrafer(ASTRAFER)$1.591.83%
  • BlurBlur(BLUR)$0.591.09%
  • golemGolem(GLM)$0.2459802.54%
  • iotexIoTeX(IOTX)$0.0256144.60%
  • moonbeamMoonbeam(GLMR)$0.3944913.37%
  • justJUST(JST)$0.0266485.05%
  • DAO MakerDAO Maker(DAO)$1.576.07%
  • jasmycoinJasmyCoin(JASMY)$0.0049154.06%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • escoin-tokenEscoin(ELG)$2.860.70%
  • kadenaKadena(KDA)$1.021.60%
  • Frax EtherFrax Ether(FRXETH)$1,824.564.43%
  • amp-tokenAmp(AMP)$0.0040414.40%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • wavesWaves(WAVES)$2.260.34%
  • ecomiECOMI(OMI)$0.000829-2.37%
  • tether-eurtEuro Tether(EURT)$1.090.16%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • nervos-networkNervos Network(CKB)$0.0064659.51%
  • band-protocolBand Protocol(BAND)$1.745.09%
  • siacoinSiacoin(SC)$0.0041393.89%
  • iconICON(ICX)$0.2211095.09%
  • terrausdTerraClassicUSD(USTC)$0.0214210.34%