Cryptocurrency
Ethereum’s Insane 51% Crash an Important Step Forward in it Becoming “Anti-Fragile”
As reported on NewsBTC, “Ethereum, like all other major cryptocurrencies, saw an intense selloff yesterday that marked one its largest single day drops in percentage terms ever. This unprecedented movement came about alongside similar declines seen by Bitcoin and other cryptocurrencies. “This intense downwards movement had devastating impacts on the DeFi ecosystem, with a plethora […]
As reported on NewsBTC, “Ethereum, like all other major cryptocurrencies, saw an intense selloff yesterday that marked one its largest single day drops in percentage terms ever. This unprecedented movement came about alongside similar declines seen by Bitcoin and other cryptocurrencies.
“This intense downwards movement had devastating impacts on the DeFi ecosystem, with a plethora of collateralized positions being liquidated, subsequently leading lending rates to skyrocket to 15% or more on many top platforms.
One prominent investor, however, is now noting that he believes this movement was an important stress test for Ethereum and the ecosystem that has been built around it and is a key step forward in ETH becoming ‘anti-fragile.’…”