Crypto’s plummet tests the durability of a hype-driven industry

Terra, the crypto company that sponsored the tweet, could have started by answering some questions about itself.

A sell-off over just the past seven days has erased more than a quarter of the value from the global crypto market, according to CoinMarketCap. Most dramatically, UST’s sister coin, Luna,And interest in crypto trading overall seems to be cooling off. The plunge in crypto prices tracks a broader move by investors to dump risky assets, such as tech stocks, as the Federal Reserve hikes interest rates to battle inflation. The tech-heavy Nasdaq has fallen 10 percent since Thursday.

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