- Cryptocurrencies have suffered a brutal comedown this year, losing $2 trillion in value since the height of a massive rally in 2021.
- While there are parallels between today’s meltdown and crashes past, a lot has changed since the last major bear market in crypto.
- The crypto market has been flooded with debt thanks to the emergence of centralized lending schemes and so-called “decentralized finance.”
- The collapse of the algorithmic stablecoin terraUSD and the contagion effect from the liquidation of hedge fund Three Arrows Capital, highlighted how interconnected projects and companies were in this cycle.
https://www.cnbc.com/2022/07/14/why-the-2022-crypto-winter-is-unlike-previous-bear-markets.html
