Digital Asset Market Note: A 'De-Pegging' Soros Would Be Proud Of

Since January 2022, the broader market sentiment has been “risk-off.”.The impetus for the most recent sell-off in the digital asset space was the “de-pegging” of the ironically termed “stablecoin” associated with the Terra blockchain, called UST, and the related LUNA cryptocurrency.Stepping back from the events of this week, to put them in perspective, consider that there was an investment rush into new protocols and decentralized applications during 2020–2021.