ETOR and GLXY: Adjusted Crypto Newcomers
ETOR & GLXY analysis: Two newly listed crypto stocks positioned for growth after CIRCLE's surge drives sector momentum. Investment opportunities explored.
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After CIRCLE's continuous surge following its IPO, COINBASE began moving in tandem yesterday, driving the crypto sector upward. This article introduces two crypto-concept newly listed stocks: ETOR (eToro) and GLXY (Galaxy Digital), both listed in mid-May and have essentially completed their adjustments.
GLXY's founder was once a major player in algorithmic stablecoins, losing $111.7 million in 2022 due to the UST collapse. However, he subsequently adjusted his strategy, emphasizing that no algorithmic stablecoins would be used in reserves.
Algorithmic stablecoins are stablecoins without sufficient collateral that rely solely on sophisticated algorithms to maintain exchange rate stability. In a perfect environment, they theoretically have the possibility of implementation, but we know that perfection doesn't exist. Therefore, all algorithmic stablecoins have collapsed without exception. The 2021 LUNA crash that brought down the entire crypto space was precisely due to this reason.