In addition to stablecoin Terra, a number of coins tumbled during the crypto market turmoil.
Frankfurt After the turbulent weeks surrounding the crash of the stablecoin Terra, investors in the crypto market can currently take a deep breath. The stablecoin itself is now almost worthless. However, other coins such as Bitcoin have recovered slightly. Between March 5 and March 12, it fell from just under $40,000 to below $26,800, but has now leveled off at around $30,000.
When the stablecoin lost its indirect link to the dollar in the middle of the month, there was hardly anything left of the total $50 billion market capitalization of TerraUSD and the associated coin Luna within a short time, and investors also withdrew from more established coins. The total market cap of all cryptocurrencies fell from $1.8 trillion to $1.25 trillion as of today.
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