Crypto Market Demonstrates Resilience; a16z and Paradigm Back New Crypto Startup
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The past few days were extremely tough on the crypto market. The massive unwinding of UST's peg and the rapid collapse of LUNA's value exerted immense pressure on the already-negative market sentiments. However, the market has also been demonstrating great resilience in the face of adversity, as investors look to be reconsolidating their portfolios in a bid to catch the falling knife.