Bear Market
to many exploit rn
remember ftx and luna
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... said dead projects, (like LUNA) still held on the exchange by the man.
... said where there’s trash altcoin, the man loads his exchange just for commission profit.
(A sentence from an article about the impact of quantum computing on cryptos)
Have you ever seen a worse period from a crypto sentiment POV?
Personally, I have seen worse. The vibes were not just down, people were genuinely afraid to even hold/use any type of crypto.
Four years ago, as an example:
LUNA, 3AC, and FTX all collapsed within ~6/7 months in 2022, alongside constant billions lost in DeFi and bridge exploits. Black swan after black swan.
Several crypto friendly banks also collapsed or exited: Silvergate Bank → liquidated, and Signature Bank → shut down. At the same time, “Operation Choke Point 2.0” was effectively debanking both users and projects.
Bridges alone accounted for billions in losses. To name a few:
Ronin Network → ~$625M
Wormhole → ~$320M
Nomad Bridge → ~$190M
Harmony Horizon → ~$100M
Not to mention millions of people bought the top on Doge (remember Elon tweets?), Shiba, SafeMoon, all the metaverse coins that topped late 2021/early 2022, and then watched the entire market fall from all time highs.
The BNB shitcoin casino was extracting millions each day, a
