🧵Daily Thread
Global Sentiment: Bullish
1⃣ Traders are expecting a strong #Bitcoin breakout from the 9-month range.
2⃣ Temporary pain for #Ethereum is expected to lead to a more sustainable rally, potentially leading to an alt season.
3⃣ Concerns about the US banking system.
📚 This thread is a summary of the latest article by @CryptoHayes on the current state of central banks and their impact on the financial system.
Read the full article here: https://t.co/0b5HMJXrbq #finance#economy
Daily #MarketAnalysis Thread🧵
🌍 Global Sentiment: Neutral
Mixed sentiments in the market, with $BTC supercycle expectations clashing with caution & uncertainty. Watch out for a potential #Bitcoin breakout, but be mindful of late longs needing to be flushed out.
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@cryptocevo There is only one (Big) issue with lusd. What happens if eth dumps a lot? You will have much less eth$ than lusd$. Quick players will redeem at 1:1. But slow ones will stay with unbacked lusd
@bojan_liquity @NoDayJob@LiquityProtocol Mm it Can be undercollarized if eth goes down a lot. Quick player will redeem eth $ at 1:1 but what happens when there is not enough eth$? Depeg and collapse
@tomsimps0n @stableshaman@AsfiShaheen@LiquityProtocol@robert_lauko For me, it Can fail if eth Price go down a lot. In that scénario, you will have more lusd $ than eth$ on the protocol. Fast player will redeem the eth$. But slow players will remain with unbacked lusd
@andrew3695555@goldkey Yes but imagine eth dump 50%. You will have much lower eth$ than lusd$. So people will burn lusd for eth. But what happen when there is no eth left in the contract?