Cryptocurrency market lost $200 billion in a single day

The cryptocurrency market lost $200 billion dollars in a single day, in parallel with the falls suffered by the main Wall Street indices, where sales have prevailed in recent days, reported the specialized media CNBC.

Among major coins, Bitcoin dipped below $26,000 for the first time in 16 months, after losing nearly 20% in five days.

Ether, the second of the cryptocurrencies, was trading today at $1,719 dollars per unit, which represents a fall below $2,000 dollars, a figure from which it had not fallen since July 2021.

Cryptocurrency market lost $200 billion in a single day

Investors are withdrawing their investments in these securities that have been affected by inflation, the aggressive policy of raising interest rates by the US Federal Reserve and the downward revision of economic projections.

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Just yesterday, the stable cryptocurrency TerraUSD, whose value was in theory pegged to the dollar, plummeted to a low of 23 cents, as its creator announced that it would seek to “rebuild” the product by modifying the complex mechanism on which it is based and seeking more equity.

Amid widespread declines in the cryptocurrency market, TerraUSD broke its parity with the dollar this week and its price has progressively sank, as has Luna, another cryptocurrency linked to it, which has also lost much of its value. Its value analysts quoted by CNBC point out that the collapse of TerraUSD has increased fears of further bearish contagion in the market.

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