Stock market collapses by USD1 trillion in seconds| MENAFN.COM

Friday, 20 May 2022 04:02 GMT

Stock market collapses by USD1 trillion in seconds


(MENAFN) In a matter of seconds, the cryptocurrency market sank by cryptocurrency that are worth USD1 trillion, the amount vanished.

The abrupt drop that has been a feature of digital currencies in the previous weeks extended over the weekend. During that time Bitcoin dropped more than 15 percent of its value at some point.

The world's leading digital coin has shed over half of its value since its previous high, as well as many other tokens which have plummeted by about the same amount, if they hadn’t exceeded it.

Officials abound when it approaches the disaster. The previous Friday's drop resulted in the loss of more than USD1.1 billion in crypto futures holdings, and over USD1 trillion of market worth were damaged since the previous high. To rephrase, the collapse is only making matters more destructive.

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