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hiThe LUNA crisis led to accelerated market exit
Soon after the Fed began raising interest rates in March 2022, investors' transition from risky assets to safe havens accelerated, and the correlation between stock markets and cryptocurrency markets caught attention.
In addition to all these negative developments, after the collapse of the LUNA, known as the "stable coin" Terra, which ranks among the top 10 in the cryptocurrency market and has many investors, investor anxiety spread to general and deepened sales in cryptocurrency markets.
During this period, the value of the LUNA fell from its highest level of $120 to almost zero. Thus, the liquidity crisis in crypto-currency markets has become apparent.
After the United States Department of the Treasury’s Office of Foreign Assets Control (OFAC) placed the Tornado Cash cryptocurrency mixer on the sanctions list, it put the concept of "decentralization", which is the goal of the cryptocurrency.
Important Notice: The material provided is for informational purposes only and does not constitute investment advice. The Rao Cash editorial team is not responsible for your financial decisions. Cryptocurrency assets involve high risks — conduct your own research (DYOR).
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