HTX Weekly (05/09-05/15): What can we learn from Luna Bloodbath?

2022/05/16 13:06

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1. Last Week’s Wrap-Up

Pioneer Zone New Launch

Listed Date	Projects	Maximum Gain Since Launch
2022/05/07	TOKE	44%
2022/05/09	LUNR	45%
2022/05/09	WNDR	236%
2022/05/10	AKT	58%
2022/05/11	ORBR	65%
2022/05/12	ADP	77%
2022/05/12	TINC	89%
2022/05/12	JUMBO	173%
2022/05/13	USDD	9%

2. What to Watch Out for This Week

>Margin Trading<

Launch of LUNA/USDT Swaps on HTX

Click link for more information

Launch of HT/USDT Swaps on HTX

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>Spot Trading<

Click on each link for more information

【Token Airdrop Event】CandyDrop launches RETH on May 14, 2022

【Token Airdrop Event】CandyDrop launches TINC&FUSE on May 13, 2022

【Token Airdrop Event】CandyDrop launches XCAD&ARV on May 12, 2022

Brand-New Event: Trade ORBR to Share 40,000 USDT Prize Pool！

PrimeEarn High-Yield Tuesday 15th: Team Up to Win $1M Bonus and 40% APY for USDT

Brand-New Event: Trade PRIMATE to Share 20,000 USDT Prize Pool！

【Token Airdrop Event】CandyDrop launches BULL&ORBR on May 11, 2022

【Token Airdrop Event】CandyDrop launches AKT&ADP on May 10, 2022

Brand-New Event: Trade NPT to Share 40,000 USDT Prize Pool！

【Token Airdrop Event】CandyDrop launches VRA&ELON&KAVA on May 9, 2022

Brand-New Event: Trade LUNR to Share 40,000 USDT Prize Pool！

>HTX Earn<

Click on each link for more information

Team Winners for 14th PrimeEarn High Yield Tuesday

PrimeEarn High-Yield Tuesday 15th: Team Up to Win $1M Bonus and 40% APY for USDT

3. Market Movers

Cryptocurrency	Last Week’s Closing Price (USDT)	Weekly Change
FIL3S	0.00008112	160%
EOS3S	0.00002051	147%
BCH3S	0.00004416	132%
LINK3S	29.86850000	125%
BSV3S	0.00022890	122%
LTC3S	0.00000315	118%
XRP3S	2.66510000	96%
UNI2S	0.98142300	82%
ETH3S	0.00000341	78%
ADP	0.01803900	58%

4. Operating Metrics

Security incidents	0
# of launched products	9
Futures trading volumes	6.60($billion)
Spot trading volumes	21.28($billion)
On-chain user balances	1.49($billion)

Trading Volumes & On-chain Balances Chart

5. HTX Research Institute Analysis

What can we learn from Luna Bloodbath?

Luna prices fell from US$87 on 5 May 2022 to US$0.0005 at the time of writing. Its widely adopted stable coin UST fell from the peg of 1:1 USD to 0.03:1 USD for the lowest price. The damage of the UST also affects the entire cryptocurrency market cap and triggers a firesale of BTC from 1.7 trillion to 1.2 trillion.

Figure 1: UST depegged Source: coinmarketcap

The panic attack of UST also spreads to other stablecoins. USDN, backed by Waves, depegged to 0.7, while USN, backed by Near, fell to 0.97, USDD from Trx got down to 0.97 and even USDT fell to 0.985, composing a systematic downfall. As such, portfolio rebalancing is a strategy to protect the overall PnL against a free fall of marketcap and liquidity crisis. Having an overall asset management strategy is also of vital importance.