Cryptocurrencies extended their sell-off with Bitcoin falling to its lowest levels in 16 months as a stampede out of so-called stablecoins sent shockwaves around broader markets
The latest blow to Bitcoin and its smaller rival Ether , which has shed more than half its market value so far this year, came from a meltdown this week in TerraUSD, also one of the world's biggest cryptocurrencies.
Stablecoins are digital tokens pegged to the value of traditional assets, such as the U.S. dollar. They are popular in times of turmoil in crypto markets and are often used by traders to move funds around and speculate on other cryptocurrencies.A representation of cryptocurrency Bitcoin is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic
Major stablecoin Tether slipped below its dollar peg, hitting as low as 98 cents around 0732 GMT on Thursday, according to CoinGecko. USD Coin was trading at around $1.04 while Binance USD was at $1.07 - a significant breakout of its usual range.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Ether Futures Lead $1.2B in Liquidations, Crypto Market Cap Drops 16% OvernightEther (ETH) futures led liquidation losses in the past 24 hours as crypto markets lost over 16% of their overall capitalization. shauryamalwa reports.
Weiterlesen »
Crypto News, May 10: Bitcoin Carnage Continues as MicroStrategy Reaches a Grim Milestone | CoinMarketCapToday's news with ConnorSephton 📰 🚨 Bitcoin clings on to $30,000 🚨 Why you should be wary of Crypto Twitter 🚨 UST implodes as LUNA crashes by 50% 🚨 Billions in paper profits for MicroStrategy vanish 🚨 El Salvador buys dip once again cryptocrash
Weiterlesen »
Bitcoin Investors Are Panicking as a Controversial Crypto Experiment UnravelsInvestors in bitcoin are in panic mode as the controversial terraUSD stablecoin slips further from its intended $1 peg.
Weiterlesen »
Ethereum rises vs. Bitcoin despite crypto market rout — will ETH/BTC gain 50% by June?It’s not how you fall, it’s how you get back up again. Ethereum continues to gain on Bitcoin amidst the crypto market rout while hinting at a potential breakout against its rival. (Reporting via bitcoinwallah)
Weiterlesen »
UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin's Damaged Reputation – Bitcoin NewsMany wonder what's going to happen if $UST regains its one dollar parity with trust in the stablecoin so shaken.
Weiterlesen »
First Mover Asia: Crypto Market Decline Underlines Its Unpredictability; Bitcoin Holds at $31KThere’s a lot to unpack about Terra’s UST collapse. Probably least understood was LFG’s opting to lend almost all its reserves to market makers to support the $1 UST peg by specifically making trades marked to $1. TheSamReynolds and JPRubin23 report
Weiterlesen »