Cryptocurrency markets crash: Terra Luna down 99.99%, will it wipeout?

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Cryptocurrency markets have crashed in the last 24 hours. The global market cap is down by 3.11 per cent in the last 24 hours and is at $1.24 trillion as of 7:15 AM IST, CoinMarketCap data showed.

Bitcoin is down by a whopping 0.65 per cent after breaking support levels and is trading at $29,307.

Ethereum also showed major downtrend and is at $ 2,002 after sliding down a whopping 5.59 per cent.

The USDT Tether showed 0.08 per cent uptrend in its value in the last 24 hours. There were fears amid crypto investors that the USDT stablecoin was also going to depeg like the UST stablecoin amid the chaos in the markets.

The USDC stablecoins showed 0.04 per cent downtrend too and maintained its peg at $1.

The BNB token has recovered and is now up by 3.88 per cent.

Solana fell by a significant 9.99 per cent.

XRP Ripple was also down by 4.79 per cent in the last 24 hours. 

The ADA token showed 5.72 per cent downtrend.

Dogecoin crashed by 2.58 per cent.

Overall, the major top tokens slid drastically down from their positions in the last 24 hours.

Amid the Terra Luna crash, Binance, the largest crypto exchanges by market cap, has delisted the $LUNA token. The crypto currency fell over 99 per cent.

Also, has again suspended $LUNA trading and withdrawals. The exchange had done the same a couple of hours ago and then revoked the suspension.

In other news, Germany will not tax Bitcoin and Ethereum sales after one year of possession.

Also Read: Is karma biting Do Kwon? Terra Luna nosedives 98% – BusinessToday

Also Read: USDT Tether tanks; Stablecoin down 5%  – BusinessToday