Ethereum, which has shed more than half its market value so far this year, dropped as much as 16 per cent.
TerraUSD, which recently climbed into the top 10 tokens by market value, was quoted around 50 cents Thursday, according to CoinGecko price data. But even reserve-backed stablecoins, which say they have sufficient assets to maintain their pegs, were showing signs of stress on Thursday. As both stock markets and crypto markets fell Thursday, traders cited chaos in the crypto market as a focal point for concern, Bloomberg reports. Strategists worry that small traders, who lost a lot in the meme stock craze, will be wiped out with these crypto losses and sell everything else.Article content
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What you need to know about the rout that just wiped $200 billion off the cryptocurrency market in one dayCryptocurrencies extend their sell\u002Doff, with Bitcoin falling to its lowest levels in 16 months as a stampede out of so\u002Dcalled stablecoins sent shockwaves around broader markets
Source: VancouverSun - 🏆 49. / 61 Read more »
What you need to know about the rout that just wiped $200 billion off the cryptocurrency market in one dayCryptocurrencies extend their sell\u002Doff, with Bitcoin falling to its lowest levels in 16 months as a stampede out of so\u002Dcalled stablecoins sent shockwaves around broader markets
Source: VancouverSun - 🏆 49. / 61 Read more »
What are stablecoins, the asset rocking the cryptocurrency market?They were supposed to be isolated from the chaos Stablecoins?...smells like manure to me🤣
Source: globeandmail - 🏆 5. / 92 Read more »
More than US$7 trillion has been wiped out from the stock market this yearThe meltdown of 2022 has wiped out more than US$7 trillion in market value from the blue chip stocks in the S&P 500. The index is down more than 18 per cent since the end of December. The Dow is down 13 per cent as well. See ya. 👏 Poll: Is the stock market in 🇨🇦 corrupt? $TSX $TSX.V $CSE The petrodollar is dying, we are not even close to the bottom imo.
Source: CTVNews - 🏆 1. / 99 Read more »