Funds Lost Billions in the Terra Collapse. Here are the Ongoing Effects; Bitcoin Sees Red

Funds Lost Billions in the Terra Collapse. Here are the Ongoing Effects; Bitcoin Sees Red

By early afternoon, bitcoin had fallen almost 4% over the past 24 hours to the low end of the $29,000-$30,000 range it has occupied for the nearly two weeks since the UST stablecoin and LUNA token that supports it imploded. The largest cryptocurrency by market capitalization, has dropped 26% from its high this month near $40,000 and roughly 55% since reaching its record peak last November. Ether, the second largest crypto by market cap, was down approximately 3.5% over the same period and changing hands a little below $2,000.

Originally Posted on: https://www.coindesk.com/markets/2022/05/23/first-mover-asia-funds-lost-billions-in-the-terra-collapse-here-are-the-ongoing-effects-bitcoin-sees-red/?utm_medium=referral&utm_source=rss&utm_campaign=headlines
By: Sam Reynolds, Damanick Dantes, James Rubin

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