News Formal

TerraUSD spooks crypto market as stablecoin plunges

  • 📰 SkyNewsAust
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 78%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

An estimated $USD200 billion has been wiped from the value of crypto currency around the world as a run on the most popular coins followed the collapse of one investment that was never meant to fall.

Mr Greenwood said the algorithmic stablecoin TerraUSD is an intended one-to-one peg to the US dollar.

“It’s supposed to mirror the US dollar – so in other words one stablecoin equals one US dollar,” he said. “The idea was if you sold your Bitcoin or your Ethereum, you’d go and buy these instead rather than actually converting it back to actual cash until you’re ready for your next transaction.” Mr Greenwood said the crypto market has become “spooked” after the stablecoin suddenly dropped in value to 23 US cents.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 7. in SE
 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

it is not real money

Good

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Turmoil and panic in crypto market as ‘stablecoin’ slump prompts wider collapseThe near-total crash of terra has fuelled real panic that the crypto sector may face existential problems 'cryptocurrency' the greatest pyramid scam of all time.
Källa: GuardianAus - 🏆 1. / 98 Läs mer »