Terra Luna collapse was a very clear example of how every single coin can get affected by an event that might seem quite distant from it. We learn from our mistakes so here a brief summary of what coins to get rid of right now, so that the FTX bankruptcy doesn’t cause you to lose your investments 🙌
What happened to FTX?
A huge loan pit caused FTX to announce its bankruptcy. Binance, who were initially willing to buyout the exchange suddenly changed their mind, leaving FTX no other choice, but to leave the market.
You can learn more in one of our articles
No wrapped
There is too much risk in holding wrapped coins right now. FTX and Alameda have minted a 100k WBTC with a deposit of actual Bitcoins. Now oops and those 100k are 72k. The panic about wrapped coins has intensified significantly after that, so we should consider staying away from the latter ✋
No games
All the P2E (Play-to-Earn) and M2E (Move-to-Earn) tokens should be sold as soon as possible. The current market is not up to game mechanics. This fun activity is a privilege for the bull cycle. And so far, none of these projects have really been long-lasting: each one of those has shown a significant decrease in the number of active users. It is very unlikely that the trend will change its direction of growth in the near future.
Everything related
Assets that were included in the portfolios of bankrupt or near bankrupt companies may also suffer 😬
As an example, Alameda Research has invested large sums in such projects as: Polygon (MATIC), Anchorage Digital, Immutable (XIMX), Voyager Token (VGX), 1inch (1INCH), Near Protocol (NEAR), Helium (HNT).
FTX Ventures invested in Yuga Labs (owner of the Apecoin token and the Bored Ape Yacht Club, CryptoPunks, Meebits NFT collections), Near Protocol (NEAR), Aptos (APT) and BlockFi crypto platform, which is also soon to become bankrupt. They have also acted as an investor in the GamerGains project (GAMER) 🎮
Conclusion
The list given above is a summary of analysis made by us for you to consider. The research was done by our experts keeping the Terra Luna collapse in mind and taking other factors like the FTX collapse story itself into account. It is up to you to trust or not to trust us, but for everyone holding any of the mentioned assets, there is absolutely no way those could increase in price 🙅♀️
Stay tuned 📻
