The global cryptocurrency market has been in free fall for several days. Bitcoin, the best-known and supposedly most stable cryptocurrency on the market has placed its value below 27,000 dollars, which represents about 27,000 euros, its lowest value since December 2020.
Stablecoins, crypto assets considered safer than ordinary cryptocurrencies, have also seen their value plummet to record lows.
That is, a reduction of 50% of its value in just six months. Added to this is the parallel collapse of the Terra Luna cryptocurrency, considered a stablecoin due to the relative stability and security of its price.
NeverthelessTerra Luna has lost 99% of its value in just one month. A few weeks ago the cryptoactive reached one of its historical peaks with a value of 118 dollars. On Thursday of this week its value fell to 0.09 dollars. This drop in its price has in turn affected TerraUSD, which is the token associated with the cryptocurrency.
The companies behind stablecoins try to ensure that their assets remain pegged to the dollar, setting the value of your tokens to the equivalent of one dollar. However, as Terra Luna crashed, the TerraUSD token has seen its value fall to $0.4.
Also Tether, a very popular stablecoin in the United States, has fallen below the dollar unit. yesu value is at its lowest historical point: 0.95 dollars. Ethereum, the second most powerful cryptocurrency after Bitcoin, has lost 20% of its value in just 24 hours.
In this last week of plummeting losses, it is estimated that the entire global crypto asset market has lost about 35% of its total value compared to last November. The so-called cryptocrash has been a severe setback for thousands of investors around the world, who now see how their savings can evaporate in a matter of seconds. And they can’t say they weren’t warned.
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