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

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

Click link for more information

 

>Spot Trading<

Click on each link for more information

Token Airdrop EventCandyDrop launches RETH on May 14, 2022

Token Airdrop EventCandyDrop launches TINC&FUSE on May 13, 2022

Token Airdrop EventCandyDrop 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 EventCandyDrop launches BULL&ORBR on May 11, 2022

Token Airdrop EventCandyDrop launches AKT&ADP on May 10, 2022

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

Token Airdrop EventCandyDrop 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.