The DeFi space is under pressure
6/16/2022, 06:05 AM
The crypto market is currently in crisis. This crisis was triggered by the decline in the price of the Terra stablecoin. Terra is a cryptocurrency based on the Tether protocol. Tether is a stablecoin pegged to the US dollar. Due to the fall in the price of Terra, which began on March 12, 2020, many cryptocurrencies, above all Ethereum, Bitcoin and other altcoins, were massively displaced. This resulted in many crypto hodlers having to sell their positions in order to service their loans. This sale of cryptocurrencies on the crypto market has further worsened liquidity and accelerated the price decline