Its market cap last week was 18 billion, and it'll probably reach 0 in a day or two
Its complementary coin, TerraLuna, which can usually be exchanged for Terra, is down 97%
:brrrrrrrrrrrr: :stonks-down:
Its market cap last week was 18 billion, and it'll probably reach 0 in a day or two
Its complementary coin, TerraLuna, which can usually be exchanged for Terra, is down 97%
:brrrrrrrrrrrr: :stonks-down:
What sparked the crypto crash?
Stock market downturn is taking its toll on crypto, like when the 2008 crash revealed Bernie Madoff's Ponzi
Money printing machine is taking a break so people are selling their fake money for real money, which is bad for the price of fake money
slurp juice machine broke
Why didn't they just use more than one slurp juice on a each ape?
but you get TWO SLURP JUICES with each monkey!
Fed is raising interest rates, meaning loans cost more, hence the era of cheap money is coming to an end. All sorts of assets will depreciate in value in the coming months - stocks, crypto, even housing. All these assets are fueled by cheap debt.
UST - the "stable coin" in the OP -bought a shitton of Bitcoin at around $45,000 about 7 weeks ago as a way to "back up" the currency. The price of Bitcoin fell a lot in the past week, which causes a run on the coin.