UST and Luna Coins Collapse, Creating Crypto Chaos

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, levels not seen since December 2020. 

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