Crypto shall survive the great covid asset chase
This month’s digital currency crash in the wake of a US Fed rate hike featured a Terra quake that evoked talk of rules to help us tell flaky tokens apart.
As a concept, crypto was unshaken Cryptosceptics have had much to gloat about this month, just as a policy pull-back of easy money began to harden its worldwide impact.
With ‘game over’ signs flashing large for the great asset chase of covid times, big-risk-mega-return stuff was sure to get whacked first—and crypto duly did.
The market value of all digital tokens was placed at nearly $3 trillion last November, before the US Fed signalled its policy shift, but had lost a third of that sum by mid-April, and has lost an even larger chunk since then, mostly after the US Fed’s sharp rate hike of 4 May and the Terra quake in its wake.
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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