I thought this would be a good time to get some thoughts down since we’re back in the neighborhood of the price levels that were seen around my last post in late May (well, at least ETH is). Quite a bit of drama has transpired since then as leverage continues to get wrung out of the system, in part due to CeFi retail lenders not appreciating the degree of their asset-liability mismatch and the Three Arrows Capital debacle.
Summer Vacation
Summer Vacation
Summer Vacation
I thought this would be a good time to get some thoughts down since we’re back in the neighborhood of the price levels that were seen around my last post in late May (well, at least ETH is). Quite a bit of drama has transpired since then as leverage continues to get wrung out of the system, in part due to CeFi retail lenders not appreciating the degree of their asset-liability mismatch and the Three Arrows Capital debacle.