This report aims to capture, explain, and analyze these events and put into context what it might mean for cryptocurrencies over the next quarter and beyond. We cover macroeconomics,stablecoins, DeFi, NFTs, and more.
The collapse of UST and the Terra ecosystem, which could be interpreted as a black swan event, and the subsequent contagion that led to the bankruptcy of Three Arrows Capital and the insolvency of multiple centralized yield providers like Celsius, has undoubtedly sent the industry into a bear market.