Re:Ask HN: Is anyone else glad the crypto market is crashing?
by simonh on Thursday May 12, 2022 @03:05PM
(#31358763)
LUNA going down is the equivalent of a single stock collapsing, and a fairly minor one at that. OP is right, this is a generalised withdrawal of equity from volatile investments of all kinds. Exactly the same thing happened with the last market crash.
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Re:Ask HN: Is anyone else glad the crypto market is crashing?
by etataetaet on Thursday May 12, 2022 @03:24PM
(#31359056)
Wasn't LUNA in the top 10 coins? If so that seems like a big deal. That would be like Coca Cola going to zero.
Re:Ask HN: Is anyone else glad the crypto market is crashing?
by xboxnolifes on Thursday May 12, 2022 @03:34PM
(#31359194)
Only if you consider top 10 coins and top 10 stocks to be of equal quality / stability. IMO, only Bitcoin and Ethereum are "blue chip" cryptocurrency. All others are pink chip.