1/ @FatManTerra explains how @stablekwon cashed out $2.7 billion dollars without breaking stable pegs or moving the markets
🧵 Some of you thought $80m per month was bad. That's nothing. Here's how Do Kwon cashed out $2.7 billion (33 x $80m!) over the span of mere months thanks to Degenbox: the perfect mechanism to drain liquidity out of the LUNA & UST system and into hard money like USDT. (1/13)
2/ wen @cobie posts I read
3/ @bobbyong on previous market cycle stats (hint: we can always go lower)
1/ Some stats on previous market cycles:
2013-2015
BTC: $1,127 --> $200 (-82%)
2017-2018
BTC: $19,423 --> $3,217 (-83%)
ETH: $1,448 --> $85 (-94%)
Current cycle:
BTC: $67,167 --> $27,682 (-59%)
ETH: $4,815 --> $1,466 (-69%)
Make what you want with the info above.
Daily Degen 2022 June 12 🦍📓