UST and Luna Coins Collapse, Creating Crypto Chaos

Published by
The Street

By Luc Olinga The crypto market has lost almost $1.6 trillion from its all-time high of $3 trillion. After days of cryptocurrency chaos, let’s take stock of the damage. The cryptocurrency market is valued at $1.35 trillion, a good deal less than half its $3 trillion in November. Almost all digital currencies, even stablecoins, have been in the red for the past seven days. Bitcoin, the king of cryptocurrencies, has lost almost 56% of its market value compared with its record of $69,044.77 reached on Nov. 10, according to CoinGecko. Prices are now around $30,000 after falling as low as $28,000, …

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