Hacker Noon July 21, 2022
The cryptocurrency and blockchain skeptics are having a field day. Ever since the TerraUSD collapse in May, they’ve been lining up to write crypto’s eulogy, goaded on by the woes experienced by Celsius, Three Arrows Capital, Voyager Digital, BlockFi and other firms. And with bitcoin and altcoins remaining far below all-time highs, there’s every chance other dominoes will fall in the coming weeks, as overleveraging and risk comes back to bite the market.
It’s hard to deny that the cryptocurrency industry is going through a crisis right now. That said, an argument needs to be made that the crypto critics have gone too far in declaring the end of the industry, and yes, some are talking as if the entire...
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