This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Luna collapse one year on, what can we learn from on-chain?
Unravel the journey of UST's de-pegging and its effect on Bitcoin, while delving into the tenacity of the cohort supply.
Quick Take
- One year after the de-pegging of UST, it continued to lose its peg against the dollar.
- We also got the infamous tweet from Do Kown: “Steady Lads, deploying more Capital.”
- During this period for the next month, Bitcoin continued to break lower until it found a bottom in June around $19,000 – $20,000.
- As we start to see, the cohort supply was last active 1+ years ago; this cohort bought within this time frame and has held through this turbulent period.
- Currently, 68% of the supply would be under this cohort, but we expect this number at the end of May and June to be higher and potentially make new all-time highs.
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