The cryptocurrency market is very erratic, here the investor reaches the sky in a moment and falls on the ground in another moment. Looking at the situation prevailing in the digital currency market in the past, the negative sentiment among the investors has gone home. This is the reason why most of the currencies from bitcoin-Ethereum have collapsed. During this, the biggest setback has been felt by the investors of Terra and its sister currency Luna. Both of them fell so much that the exchanges delisted them.
So much loss to investors in one stroke
First of all, let us tell you that where the investors were defrauded by the deteriorating condition of Terra while taking it step by step, Luna broke down so much that it completely shook its investors. Cryptocurrency Luna is almost 100% broken, according to the report, its price has fallen from Rs 9000 to 50 paise. Investors lost $ 40 billion due to its fall on Saturday.
The dangers of the crypto market exposed
This massive drop in Luna confirms that there is volatility in the cryptocurrency market that could pose a major threat to investors. Due to the declining trend of cryptocurrencies for some time, not only Terra or Luna but also others including the world's most popular bitcoin are in bad shape. Bitcoin has broken more than 50 percent from its highs. At this time, the effect of selling in the crypto market is also clearly visible in the form of a fall.
Exchanges have delisted
Due to the biggest drop, exchanges have delisted both Luna and Terra from their platforms. Crypto exchanges remove it from their platform when the price of cryptocurrency drops drastically. This is done so that new investors cannot buy that crypto. Since the price of Luna has fallen drastically, new investors may buy it in the hope that its value may rise again. However, even if crypto is delisted on some exchange, investors can still transfer them to the exchange where they are still listed.
Why are cryptocurrencies falling continuously?
Stablecoins are the main reason behind the massive decline in the cryptocurrency market. In fact, at this time there is instability in Stablecoin, which has had the worst effect on Terra and Luna Coin. The price of Luna has dropped by 100%. Satwik Vishwanath, CEO, and co-founder of crypto exchange Unocon said that at this time there is a huge decline in equity and commodity markets around the world, which is also affecting the crypto market.
Experts said - lessons will have to be taken from the fall
Experts are comparing this decline to the big financial crisis of 2008. It is also prompting us to demand stricter laws governing financial assets, he says. Several financial experts, including Muthoot Microfin CEO Sadaf Saeed, said the Luna crash should be taken as a lesson. Especially, in developing countries were investing in cryptocurrencies has recently become a craze for the rich. However, questions have also been raised about the revival of the decline in Luna. However, if we look at the unregulated market of crypto, then no one can say when which cryptocurrency becomes a profitable deal here.
Paise Do Blue Tick Lo: Facebook and Instagram's paid service started, know the price
After Twitter's paid blue tick service, Meta also announced paid blue tick service. The company announced this last week and now it has started. Now users of Facebook and Instagram can verify their
R Ashwin retired from international cricket, and followed the tradition of these legends including Dhoni.
India's veteran off-spinner Ravichandran Ashwin has announced his retirement. At the age of 38, Ashwin has announced his retirement from international cricket. He surprised the cricket world by
Chinese National Arrested: Chinese woman in Buddhist monk's costume arrested, a shocking secret revealed in interrogation
Chinese National Arrested: A case of arrest of a Chinese female citizen has come to light in the country's capital Delhi. The woman has been accused of spying for China. According to the information
AR Rahman: After divorce, AR Rahman shared the first post, and expressed his happiness about this
Musician AR Rahman shocked his fans on Tuesday night when he and his wife Saira Banu announced their separation after 29 years of marriage. Rahman has remained silent so far after that post shared on
Dispute: Maharashtra's dispute with Telangana was settled after Karnataka, 14 villages along the border demanded separation
The border dispute between Maharashtra and Karnataka is yet to subside and meanwhile, there has been a demand from some villages of the state adjoining Telangana that they should be separated. It has
Glenn Maxwell Statement: How Glenn Maxwell scored a double century despite groaning in pain, revealed the entire planning after the historic victory
Glenn Maxwell Statement. Despite having stiffness in his leg, the Australian team's star all-rounder Glenn Maxwell created history by scoring a double century. Glenn Maxwell turned the losing match
SRH vs GT Pitch Report: Batting or bowling? What will be beneficial after winning the toss, is knowing the nature of the Hyderabad pitch
The 66th match of IPL 2024 is to be held between Sunrisers Hyderabad and Gujarat Titans. This match will be played at Rajiv Gandhi International Stadium in Hyderabad. Gujarat
Rahul Gandhi: Rahul Gandhi lashed out at the new draft of UGC, saying - this is a conspiracy to end reservation.
Congress leader Rahul Gandhi has termed the new draft guidelines of the University Grants Commission (UGC) as a conspiracy to end the reservation given to SC, ST, and OBC categories in higher
China commits cruelty for speaking against the government: political prisoners-activists are sent to hospitals for mental patients, and the staff tortures
A human rights group has claimed that China is punishing political prisoners and activists in psychiatric hospitals. Here they are tortured. China was accused that healthcare workers there were
New Education Policy HPU: The semester system will be implemented again in the UG degree course in Himachal, instructions issued after meeting
Himachal Pradesh University is going to implement National Education Policy-2020 in undergraduate degree courses in UG degree courses from the academic session 2022-23 itself. Under the new education
