Bitcoin, Ether and TerraUSD are falling as investors pull out of their investments in these securities, which have been tarnished by inflation, rising interest rates and downward revisions to economic projections.
The cryptocurrency market has lost more than $200,000 million in one day, the specialist media CNBC reported. Among the major currencies, the Bitcoin it’s fallen below $26,000 for the first time in 16 months, after losing nearly 20% in five days.
Etherthe second of the cryptocurrencies, this Thursday traded at $1,719 per unit, representing a drop below $2,000, a figure that has not fallen since July 2021.
Investors are withdrawing from these securities, which have suffered from inflation, the US Federal Reserve’s aggressive policy to raise interest rates and the downward revision of economic projections.
On Wednesday, the stable cryptocurrency TerraUSDwhose value was theoretically pegged to the dollar plummeted to a low of 23 cents, when its creator announced that it wanted to “rebuild” the product by altering the complex mechanism on which it is based and seeking more capital.
Amid widespread declines in the cryptocurrency market, TerraUSD broke its parity with the dollar this week and its price has gradually fallen, as has Luna, another cryptocurrency linked to it, which has also lost much of its value.
(function(d, s, id) {
var js, fjs = d.getElementsByTagName(s)[0];
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = id;
js.src = “//connect.facebook.net/es_ES/sdk.js#xfbml=1&version=v2.8”;
fjs.parentNode.insertBefore(js, fjs);
}(document, ‘script’, ‘facebook-jssdk’));
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
