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The two major European banks are being called into question and seemingly seeing their stock prices crashing. Analysts and crypto experts see similarities to Lehman Brothers in 2008, which makes this a scorching topic.
Like Lehman Brothers, $CS is repeating its "long-term, sustainable future," according to a leaked memo of CEO Ulrich Körner, who wants to raise fresh capital to restructure the bank.
The bank's share price has been in a continuous downtrend since February 2021 but took further heavy hits in the last weeks. Overall, the outlook to inspire confidence in potential investors is diminishing, especially with the bank's tangible book looking disastrous at 0.23x.
The same goes for $DB, trading at only 0.3x tangible book, which reminds market analysts about Lehman Brothers pre-crash. So even though the bank is in better shape, its valuation looks very distressed.
News travels fast, especially on 'Crypto Twitter' and when it affects financial markets. However, most crypto traders see this as an opportunity to fill their bags and accumulate more of their favorite coins and tokens.
As a result, we can see a developing trend that users are increasingly announcing to move funds from fiat and stablecoins into Uniglo's ICO and Cardano with its upcoming Vasil hard fork.
Uniglo and the native currency GLO are newcomers in decentralized finance and are mostly hyped due to their 'Ultra Burn' feature and 'GLO Vault,' which work in symphony. The vault acquires assets, trades them, and the Ultra Burn then uses the profits to Buyback and burn GLO tokens. As a result, the protocols floor price is appreciating, and the supply is shrinking. Their highly anticipated launch is set for the 19th of November, and there is still time left to purchase Uniglo.
As for Cardano, the major altcoin is like Uniglo, considered a safe investment during these uncertain times, with the expectation of enormous value increases in the future. Carles Hoskinson recently said there is a 'humongous appetite for Cardano.' Looking at crypto Twitter and the upcoming Vasil hard fork of ADA, there could be some merit to it.
We can only hope that governments and banks have learned from the crash in 2008 and the collapse of Lehman Brothers. Yet, despite the abysmal outlook, crypto traders are more bullish than ever and busy accumulating Uniglo.io and Cardano. So get in on the action before the bull returns.
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