How Market Volatility Is Shining a Light on DeFi’s Structural Vulnerabilities
Cointelegraph
Published Mar 28, 2020 06:52AM ET
Updated Mar 28, 2020 08:40AM ET
On March 12, United States President Donald Trump gave a 10-minute speech on COVID-19 that, coupled with the World Health Organization’s official declaration the day before that the outbreak was now a pandemic, sparked panic across global markets.
Investors rushed to the safety of cash, and no cryptocurrency was immune from the mass sell-off. The total market capitalization of the cryptocurrency sector plummeted by over 25% in a span of hours. Bitcoin (BTC), despite its reputation as a safe haven, fell by 48% in a span of 24 hours. Ether’s (ETH) loss of 43% was its worst one-day performance.
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Written By: Cointelegraph
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