Iron Finance says the crash was not a rug pull - a malicious tactic where crypto developers abandon the project and run away with investors’ money - but poor tokenomics resulting in “the world’s first large-scale crypto bank run.” The project detailed the sequence of events that unfolded in a post-mortem blog post: The price of IRON has dropped from its US$1 peg and is now trading for just US$0.77 as of publishing time, according to CoinGecko. Basically, the price of TITAN goes up when new IRON tokens are minted, and the peg becomes less stable when the price of TITAN falls, like what unfortunately happened on June 16. In the case of Iron Finance, USDC and TITAN were used as collateral on Polygon and BUSD and STEEL on the Binance Smart Chain. Then there are algorithmic stablecoins like Iron that have a multi-token collateral mechanism using time-locked smart contracts to maintain price stability. Others, like Dai, are backed by crypto assets. Some stablecoins like USDC say they are 100% fiat-backed, while others, like USDT, are backed by a basket of assets - including unsecured debt - with cash only as a tiny portion. They act as a bridge between traditional finance and crypto and allow traders to stay in the crypto ecosystem when hedging against price declines. Stablecoins, which are typically pegged 1:1 to fiat currency, are cryptocurrencies that are designed to minimize price volatility. dollar, on the Polygon network and Binance Smart Chain, according to its website. Iron is a partially collateralized stablecoin, soft-pegged to the U.S. How did Iron Finance investors, even a supposedly savvy one like Cuban “get rekt,” in crypto parlance - suffer a heavy financial loss caused by a wrong trade or investment. Like #TITAN, more and more cryptos will bite the dust and reveal that they are nothing more than highly speculative assets with fundamental values of ZERO!”īefore Titan token’s dramatic collapse, Iron was seeing exponential growth in total value locked, rising from US$30 million on May 20 to US$1.2 billion on June 12. Earlier, Hanke had tweeted: “#DeFi tokens are the latest cryptos to take a nose dive. I made money in one and then lost money during the bank run on the a second,” said Cuban in another tweet replying to American economist Steve Hanke.
![titan token titan token](https://i.pinimg.com/originals/6a/bc/f2/6abcf212173f7cdf205cb175a900cf25.jpg)
![titan token titan token](https://clubesuite.com/wp-content/uploads/2021/06/Iron-Finances-Titan-Token-Falls-to-Near-Zero-in-DeFi-scaled.jpeg)
Crazy part is I got out, thought they were increasing their enough. Some are CryptoZoon vs IRON Titanium Token, PirateCash vs IRON Titanium Token, SPINDLE vs IRON Titanium Token, XELS vs IRON Titanium Token, JPool Staked SOL (JSOL) vs IRON Titanium Token, QURAS vs IRON Titanium Token, Spywolf vs IRON Titanium Token, NOIZ vs IRON Titanium Token, TRONbetLive vs IRON Titanium Token, POC Blockchain vs IRON Titanium Token.Price volatility is the norm in crypto markets, but last week saw the price of decentralized finance (DeFi) project Iron Finance’s Titanium (TITAN) token plummeting - from US$64.19 to zero - in a single day.Įven American billionaire investor Mark Cuban - who had endorsed TITAN in a blog post just days before - was not left unscathed by the token’s crash, taking to Twitter to say “I got hit like everyone else. There are many altcoins in the market, and investors need to clear out how altcoin differs from IRON Titanium Token and what it can offer by comparing all altcoins with IRON Titanium Token(TITAN). The given all are fiat currency and the most widespread pairs in the market. Today, almost every fiat currency has been paired with the TITAN, including TITAN to PHP, TITAN to INR, TITAN to NGN, TITAN to THB, TITAN to CAD, TITAN to PKR, TITAN to IDR, TITAN to EUR, TITAN to AUD, TITAN to BDT and many more in the queue.
![titan token titan token](https://centralbankcurrencies.com/news/wp-content/uploads/2021/06/btc-crash-1200x628-1-750x375.png)
TITAN considers as the most popular cryptocurrency, and on the other side, USD is the most demanding fiat currency globally. dollar or Japanese yen) or using them as payment for goods and services, IRON Titanium Token can be earned or received in various ways. Also organise it.īy exchanging TITAN against fiat currencies (such as the U.S. A portfolio tracker lets you identify profit and loss. As an example, you have acquired IRON Titanium Token at different prices, which makes it difficult to identify the individual purchasing prices. This tool enables you to keep track of your crypto assets. Using a crypto portfolio tracker has become more convenient than it was in the past. Let's look at what our experts and market analysts discuss regarding future IRON Titanium Token price prediction. The cryptocurrency market is volatile and never predicts its price movement, and it requires expertise and knowledge, and it is such a problematic take. In the last 24 hours, TITAN to bits price has gone up by -17.27%.
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The current IRON Titanium Token to bits price is 0.0000018536 bits.