This month algorithmic stablecoin UST lost parity with the dollar as cryptocurrency Luna fell sharplywhich made the two tokens sink deeper and deeper, in a loop similar to a bank run.
After that, cryptocurrencies with the largest market capitalization saw their valuations hurt and there were massive outflows of investment funds.
Also, the main stock indices in New York, with the Nasdaq in the lead, had several negative days which directly affected the assets considered to be at risk.
Inflation in the United States and the hike in the Fed’s benchmark rates created risk aversion and a search for more stable investments.
The only cryptocurrency in the top 100 that finished in the green was Tron. What is it about? is the cryptocurrency of the open source, decentralized, blockchain platform of the same name.
In this blockchain there are entertainment applications, various games and it allows participation among users who can create their own tokens or applications by using smart contracts.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
