With the May numbers in the books, let's jump right into the charts.
It was an eventful month in financial markets! Let's start by looking at crypto
. On May 9th, the two tokens from the Terra ecosystem, LUNA and UST started to collapse
. At it's peak, LUNA had a market capitalization of $40 billion
, which made it one of the 10 largest cryptocurrencies. However, more controversial is the collapse of UST, which had a market capitalization of $20 billion. The algorythmic stablecoin was supposed to be pegged to the value of 1 US Dollar and its collapse caught many investors by surprise. In the aftermath of these events, calls for regulation
for stablecoins are getting louder. Japan
already passed such a law and the UK
is following suit. The rest of the crypto market has not been spared from the carnage. Since their peak on November 9th, both BTC and ETH
have lost 60% of their value.