Stablecoin Implosion — LUNA and UST Lose Significant Value, Downturn Ripples Across the Crypto Economy

It dealt a serious blow to Luna and the upper markets. After the Fed increased interest rates, while the markets were going up, Luna's actions were officially suicide in the name of cryptocurrencies. I think confidence in the cryptocurrency market has waned. It seems that there is not much inflow of new money at the moment. There were people who lost a lot of money. If there will be money inflow again, they must take altcoins to serious places. Nobody wants to invest in a place where a lot of people lose money.