The crypto market has lost nearly $ 1.6 trillion since its total total $ 3 trillion.
After days of cryptocurrency turmoil, let’s take a look at the damage.
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The cryptocurrency market is valued at $ 1.35 trillion, a good deal of less than half of $ 3 trillion in November.
Almost all digital currencies, even stablecoins, have been red for the past seven days.
Bitcoin, the king of cryptocurrencies, has lost about 56% of its market value compared to its $ 69,044.77 record reached on November 10. Prices are now almost $ 30,000 after falling to $ 28,000, levels never seen since December 2020.
Ether, Ethereum's popular traditional blockchain token that allows for the creation of financial systems separated from the NFTs, has dropped by 57% from its all-high high of $ 4,878.26 reached Nov. 10.
Favorites for Crypto enthusiast dogecoin and shiba dropped by 87.3% and 84% respectively from the all-time high.
Only a few stablecoins, their prices should not change because they are tracking the dollar, they are stable. Tether, the stable stablecoin by market value, has risen 0.2% in the last seven days, while the USD Coin has risen 0.5% and the Binance USD has risen 0.4%.
UST and Luna Are Near Worthless
But the disaster affected the Terra ecosystem, which was in vogue a few weeks ago.
Its traditional token games, including the stablecoin UST or TerraUSD, as well as the Luna token, have lost almost all of its value.
The UST, denominated in the dollar, finally the check dropped to $ 0.102542 - more than a dam. It dropped 84% in the last 24 hours. Stablecoin, which has lost its stability, fell 91.4% from its $ 1.09 high target on Jan. 11.
As for the Luna token, its price dropped to $ 0,0001826. Crypto has lost 99.9% of its value in the last 24 hours. It traded as high as $ 119.18 on April 5.
The two cryptos took a big hit on May 13 when crypto exchange Binance and OKX decided to remove them from the list to protect their customers.
"At #Binance we prioritize user protection," Binance founder Changpeng "CZ" Zhao tweeted. "We have decided to suspend LUNA and UST trade."
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Courtesy Grizler.com
