Crypto assets bleed more than $1 trillion of their market value in one month

, which makes up nearly 40 per cent of the crypto market, hit a 10-month low earlier on Tuesday, before rebounding to $US31,450, just six days after touching $US40,000.Digital asset prices have slumped, mirroring a plunge in equities on fears of aggressive interest rate hikes across the globe to stave off decades-high inflation.The tech-heavy Nasdaq was down 28 per cent from its November 2021 record high.

“Bitcoin remains highly correlated to the broader economic conditions, which suggests the road ahead may unfortunately be a rocky one, at least for the time being,” blockchain data provider Glassnode said in a note.TerraUSD, the world’s fourth-largest stablecoin, lost a third of its value on Tuesday as it lost its peg to the dollar.Getty Images

Nothing from nothing leaves nothing

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Crypto companies most bruised in shares sell-offShares in Coinbase Global have lost four-fifths of their value from a peak in November as companies linked to cryptocurrencies tumble. 😂😂😂
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Fed warns of worsening market liquidityThe US central bank issued the warning in its report about liquidity, the ability to buy or sell an asset without influencing the price, following several frenzied months in US markets.
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