Galaxy Digital Holdings Ltd. (OTCMKTS:BRPHF – Get Rating) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 2,627,200 shares, a growth of 61.7% from the April 30th total of 1,624,800 shares. Based on an average daily trading volume, of 1,115,200 shares, the days-to-cover […]
The rapid collapse of terraUSD and its sister token luna has sent a ripple effect across the industry and threatens to have a cooling effect on crypto fundraisings.
This week’s undoing of the TerraUSD algorithmic stablecoin and its sister token, Luna, has ramifications for all of crypto. First, there is the immediate impact: The rapid collapse of a once-popular pair of cryptocurrencies sent a ripple effect across the industry, contributing to plummeting coin prices that wiped hundreds of billions of market value from the digital-asset market and stoked worries over the potential fragility of digital-asset ventures.
Then there are the knock-on effects. In addition to delivering punishing losses to individual users and investment firms, the spectacular failure of a market darling like Terra threatens to have a cooling effect