03-07-2022

Miracle happens and it's the only hope left that can save SmartBCH and us from dying though it was bad luck for all of us this bear market and controversies or attack against SmartBCH

Not talking about Coinflex matter anymore though according to SmartBCH lead developer kui wang a new centralised bridge will be live next week

This is his complete statement and now in today's topic I'm planning to discuss about all the Sep20 tokens fallen down from their peak including BCH & TVL of SmartBCH.

SmartBCH Boat Sinking in the Deep ocean

Reason I'm saying this is current situation is something like that. We can't deny the fact BCH & SmartBCH together in a same boat sinking

And so all of tokens in chain are, we don't have a stablecoin

All of them Got depegged including FlexUSD, sBUSD, LawUSD etc excluding bcUSDT.

TVL of SmartBCH dropped to 56,000BCH

From the heights of 120,000BCH locked in SmartBCH to only 56,000 we've come a long way ahead (back).

In dollars from $50m to only $6m only though BCH value dropped down a lot but still a huge outflow of money from SmartBCH since the Coinflex tragedy happened.

One more thing whole DeFi TVL fell down from All time high of $250b around to less than $100b and SmartBCH is still at #69 position in side chain ranking.

Benswap With the Most TVL of SmartBCH

Mistswap dethroned benswap back then and was at 1st position with the most TVL~$7million

And now guess benswap is once again on top with the most TVL

Benswap on top with $2.6m locked and BlockNG on second or mistswap at 3rd position.

This was unpredictable and this low TVL all happened after Coinflex tragedy coz i checked last when the drama was just started and total BCH locked was 96k and now only 50,000

More like 40,000 Gone from SmartBCH in few days.

Stablecoin dying in SmartBCH

All of them like FlexUSD, sBUSD or LawUSD are way down from its $1 Peg and I'm in terribly huge lose.

FlexUSD current price is at $0.47 and

sBUSD looks more terrible and I'll consider it dead already

Now this is also right and i was almost all into sBUSD than FlexUSD.

LawUSD is still at Good position and i believe it will easily recover its peg coz it is a stablecoin by BlockNG and the team always shock everyone.

BCH moving to it's Lowest of All time

When we talked about SmartBCH is dying and need some kinda miracle from that miracle i meant BCH to perform somehow

Coz they're linked if BCH sink, SmartBCH will die too.

And let's have a look to BCH performance since 2022.

Performance of BCH since 2022

From 18th position in ranking to 30 in 7 months of 2022.

And also from nearly $10b market cap to only 1.96b marketcap Left as of now.

And from $300 than jumped to $390 and crashed to it's All time low of $98.

It all happened in 2022 not only BCH but whole crypto Right now is frozen to death.

BCH all time low is $75 and BCH is only $30 away from it's all time low.

BCH performance since SmartBCH

Since SmartBCH arrived BCH started going down and it's been almost a year now

Next month SmartBCH will be one year old and this chart clearly represent what happened to BCH since it's arrival and ETH founder calling BCH failure coz of SmartBCH was out back then.

Now the question is why BCH went crazy after SmartBCH? Don't say it happened coz of bear market coz it's not true.

Seems like it is my biggest mistake of life putting all eggs in same basket but hopefully it will recover in the long term

I've said this before that I'm holding and not selling any BCH until 2024 either will go to zero or to moon but for now its only moaning.

Fin.

After seeing current statics and situation I'm seeing thing's can terrible go wrong in the coming time but that's up to market

If the market start dominating and bull start moving into market again we'll see BCH going up like crazy unless it's not zero at that time.

For now I'm more scared about my investment in stablecoin than in different sep20 tokens.

Trust me I'm in more lose being in sBUSD than FlexUSD only had these two stablecoin for the worst case scenario to BCH but didn't see these two will become dust.

Well it's a part of life we make and lose something. I never imagined how worst bear market can get and now the pain given by bears isn't bearable

Also everyday waking up to hear another new bad news or exchanges not allowing to withdraw money is giving me panic attacks

But let's hope it will not last for long and looking forward to hear your point of view regarding current situations and the whole matter.