Following the brief de-pegging of UST stablecoin, the market may face additional selling pressure coming from Terra Foundation
It is not yet clear how much of their funds Terra Foundation sold, but it will not be an unnoticeable amount as Anchor reported $2.3 billion in outflows, indicating massive outflows from the stable asset.
While there are at least two reasons behind the increased outflows, the major cause is tied to increasing volatility on the cryptocurrency market, followed by increased demand in exitAs Bitcoin and other cryptocurrencies plunge further down, panic sentiment has overtaken the market and is causing massive outflows from both stable and regular digital assets. According to CoinMarketCap, the market has lost at least $200 billion in capitalization.
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