Terra crash not a risk to the broader crypto ecosystem, says Huobi Global co-founder
Cointelegraph
Published May 19, 2022 06:49AM ET
Updated May 19, 2022 08:20AM ET
As the fall of Terra (LUNA) and TerraUSD (UST) may have a noticeable short-term impact on the decision-making of both retail and institutional investors, it doesn’t pose a risk to the larger crypto ecosystem, according to Jun Du, co-founder of Huobi Global.
In an interview with Cointelegraph, Du explained that the collapse of Terra will affect the ecosystem by slowing down investor interest in crypto as an asset class. However, Du noted that this will only be a short-term effect. In the long term, the exchange co-founder explained that crypto like Bitcoin’s (BTC) demand as a hedge against fiat inflation will grow along with the advent of new applications for blockchain:
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Written By: Cointelegraph
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