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Crypto is risky, and abrupt market downturns make this abundantly clear.
Many tokens demonstrated this feature earlier this week when a host of assets found their valuations halved after a week’s worth of negative price action was compounded by a particularly brutal Sunday selloff. Despite managing to pare back losses on Tuesday, practically every token remains substantially underwater compared to June highs.
While DeFi protocols managed their risk as expected during this drawdown, the crypto industry has historically found itself dealing with bad debt and asset depegs during the most volatile market events.
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