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$1,000,000,000 Cryptocurrency Market Catastrophe: What Happened?

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Market is clearly in dire state as liquidations exceed $1 billion for first time in years

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions.

The problems facing the cryptocurrency market are not unique. The leading stock market index, the NASDAQ, is down nearly 6.5%, indicating wider instability on the financial markets. The situation is even worse in Japan. The Nikkei 225 index has dropped more than 10%, putting Japanese stocks on course for their largest fall in more than eight years.

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