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Bitcoin losses up to USD1T
(MENAFN) The crypto money market's slide, which began in November of previous year, has escalated as investors flee riskier investments in a high-inflationary atmosphere.
With losses in the market where dependability is questioned owing to latest happenings in LUNA, Bitcoin and Ethereum continued their downward trajectories for the seventh week in a row.
The crypto market, which has had sharp ups and downs owing to its structure since its inception, has been heavily impacted since November by rising inflation and high interest rates.
The fall was compounded by the issue of confidence following what happened with the stable coin, LUNA, which was released to fix the price of bitcoin, UST, which was meant to be equal to USD1 on the Terra platform.
With losses in the market where dependability is questioned owing to latest happenings in LUNA, Bitcoin and Ethereum continued their downward trajectories for the seventh week in a row.
The crypto market, which has had sharp ups and downs owing to its structure since its inception, has been heavily impacted since November by rising inflation and high interest rates.
The fall was compounded by the issue of confidence following what happened with the stable coin, LUNA, which was released to fix the price of bitcoin, UST, which was meant to be equal to USD1 on the Terra platform.
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