Why Crypto Liquidations Protect Us All
If the current COVID-19 pandemic has exemplified one thing, it is that our individual actions have consequences for all of us. Unfortunately, human nature propels the majority of humankind to put its individual interests first, and it takes a truly severe crisis to open our eyes to the interconnectedness of our actions.
It is through assessment of real-life stress tests that the blockchain industry’s collective immune system develops the necessary resilience, and this is of the utmost importance, as the world’s total unpreparedness for the COVID-19 threat clearly showed.
The unprecedented meltdown of prices across crypto assets caused by the global pandemic, with Bitcoin (BTC) shedding as much as 47% of its value intraday from March 12 to March 13, calls for a rigorous analysis of the most recent events and a review of how crypto lenders reacted in order to protect their customers.