$1 trillion deleted from the cryptocurrency market
0$1 trillion deleted from the cryptocurrency market
While the total value of the crypto money market, which exceeded $ 2.1 trillion at the beginning of April, decreased to $ 1.2 trillion, almost $ 1 trillion was deleted from the market.
While the decline that started in November last year in the crypto money market continued with the acceleration of escape from risky assets in a high inflationary environment, Bitcoin and Ethereum completed the 7th consecutive week with losses in the market where reliability is questioned due to the recent events in LUNA.
The crypto money market, which has experienced many hard ups and downs since the day it emerged due to its structure, has been hit hard since November with the increase in inflation and the high interest rate environment created in parallel with this.
The questioning of trust after what happened in the stable coin LUNA, which was issued to stabilize the price of the crypto money UST, which was designed to be equal to one dollar by the Terra platform, accelerated the collapse.
At this point, the zeroing of the value of LUNA, which was shown in the top 10 and has many investors, and its delisting from Binance, resulted in the instability in stable coins spreading to the general market.
With these developments, the total value of the crypto money market, which exceeded $ 2.1 trillion at the beginning of April, decreased to $ 1.2 trillion, according to the data of the analysis company Coinmarketcap. Bitcoin is the crypto asset with the highest market capitalization at $558.6 billion, followed by Ethereum with $237.6 billion.