oof.
a lot of chatter online about the solvency of one of the bigger custody/lending platforms, Celsius. Not very reassuring stuff from their ceo. If anyone here holds coins there I’d get them off asap
this is a bit above my head, but supposedly these lending platforms use leverage to generate yield through defi.
Somehow through staking platforms yet another coin is created stEth. That is redeemable for Eth after their merge is complete but it’s a trading at a discount, another “depegging”. Evidently if it widens greatly it could cause big ripple effects through markets.
Here’s a thread explaining it. I don’t understand at least half of it. Not trying to learn either just looking at potential bear market catalysts.
tl;dr
We’re in big bear market territory. There’s a lot of negative headlines out there. I’m seeing some apathy, but not utter despair. I still think we leg lower one more time.
Everyone here knows my philosophy. Dca Buying. This is when you accumulate more. Stay safe out there. Hold your own coins. No leverage.