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- Market Update - August 3, 2023
DeFi drama! Curve.Fi’s creator borrowed against a ton of CRV and can’t pay back the loan. If he defaults, it’ll get real bad, real fast.
Catch up on what’s going on:
Just catching up on the Curve Crisis. AFAIK:
- Founder took out tens of millions in DeFi loans using $CRV as collateral
- $CRV price has been falling since the weekend due to an exploit of Curve Finance
- If $CRV falls much lower, he will be liquidated, but DeFi can't absorb the… twitter.com/i/web/status/1…— Coin Bureau (@coinbureau)
5:06 AM • Aug 1, 2023
You and I know this market doesn’t need DeFi drama to push prices down. We already have Tether, Binance, Huobi, and many other sudden problems that could tank the market.
We also have plenty of reasons to expect the market will go up. Topics for this update:
Close enough is good enough
Bollinger bands, Keltner channels, and on-chain
A better altcoin dominance chart
I strongly advise you to read the TL; and DW below and watch the update! You miss a lot when you do just one or the other!
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