â• Crypterium News â•
âš¡ï¸ Hard Time for the Crypto: the Largest Collapse Since 2021 and Other News
The BTC price decreased by 8% within the last 7 days. It was down to $26,700, then buyers stopped the collapse. So the BTC price increased by 17%.
Altcoins were down by 40-50%. The largest collapse happened since May 2021 caused by problems with the Luna project. Early last week, UST lost its peg to the US dollar and its rate dropped to $0.98. After 2 days, the stablecoin was down to $0.60. When the price of Luna reached almost 0, many exchanges stopped trading it. At the same time, UST was down to $0.04.
All happened events caused a panic around other stablecoins. The crypto community became gripped by fear and caused a comprehensive collapse in the market as a result. Now the Luna incident is coming to an end, in the next 2 days the team will provide the final recovery plan.
Another news to be observed is the Instagram's implementation of NFT for some users. Currently supported blockchains are Ethereum and Polygon. You can add a profile NFT-photo using non-custodial wallets Metamask, Trust Wallet and some others.
In conclusion, Elon Musk suspended a deal with Twitter. While he's evaluating fake accounts, the shares' price is decreasing by 16% against this background. A little note: Twitter also supports NFT-avatars and cryptocurrency donations.
Well that's Crypto in a nutshell. Devastating lows with 1 Crypto effecting the entire Altcoin market and 1 influencer effecting the stockmarket for Twitter. It's really put many into a bad financial situation and things aren't looking to good at times of inflation and entry into recession. If life wasn't tough already, aye?
crypto
#luna #altcoins #stockmarketâ• Crypterium News â•
âš¡ï¸ Hard Time for the Crypto: the Largest Collapse Since 2021 and Other News
The BTC price decreased by 8% within the last 7 days. It was down to $26,700, then buyers stopped the collapse. So the BTC price increased by 17%.
Altcoins were down by 40-50%. The largest collapse happened since May 2021 caused by problems with the Luna project. Early last week, UST lost its peg to the US dollar and its rate dropped to $0.98. After 2 days, the stablecoin was down to $0.60. When the price of Luna reached almost 0, many exchanges stopped trading it. At the same time, UST was down to $0.04.
All happened events caused a panic around other stablecoins. The crypto community became gripped by fear and caused a comprehensive collapse in the market as a result. Now the Luna incident is coming to an end, in the next 2 days the team will provide the final recovery plan.
Another news to be observed is the Instagram's implementation of NFT for some users. Currently supported blockchains are Ethereum and Polygon. You can add a profile NFT-photo using non-custodial wallets Metamask, Trust Wallet and some others.
In conclusion, Elon Musk suspended a deal with Twitter. While he's evaluating fake accounts, the shares' price is decreasing by 16% against this background. A little note: Twitter also supports NFT-avatars and cryptocurrency donations.
Well that's Crypto in a nutshell. Devastating lows with 1 Crypto effecting the entire Altcoin market and 1 influencer effecting the stockmarket for Twitter. It's really put many into a bad financial situation and things aren't looking to good at times of inflation and entry into recession. If life wasn't tough already, aye?
crypto #luna #altcoins #stockmarket
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