Crypto Market Plunges More Than $200B in One Day
Several major cryptocurrencies — including data from price-tracking site CoinMarketCap.and ether — have suffered a large sell-off over the last 24 hours, wiping more than $200 billion from the total market cap as of Thursday, according to
The broad plunge continues a months-long downward trend, likely driven by, economic concerns related to the and a corresponding drop in major stock market indices.
The change over last 24 hours has also been attributed to , one of the largest . TerraUSD lost about 30% of its value earlier this week and dropped to approximately 40 cents per coin as of Thursday afternoon. A stablecoin’s value isn’t supposed to fluctuate or dip below $1.
On Monday, the price of bitcoin, one of the most popular cryptocurrencies, alsofor the first time since July 20, 2021.