ક્રિપ્ટોકરન્સી: અબજોના નુકસાનથી ક્રિપ્ટો બિઝનેસમાં રોકાણકારોનો વિશ્વાસ ડગમગી ગયો

Bit coin price Cryptocurrency News: Billions in losses shake investor confidence in crypto business

The total market value of cryptocurrency as of last Friday was 1.3 trillion, according to Coin Market Cap, the organization that oversees crypto trading.

The collapse of one of the largest cryptocurrencies and the massive fall in the prices of dozens of such currencies has shaken public confidence in the crypto market. On the other hand, regulatory government agencies around the world have had the opportunity to claim that their warnings were true. These agencies have repeatedly warned that investing money in cryptocurrencies is risky.

The biggest shock has hit cryptocurrencies called stable coins. This is the currency that is said to be pegged to the dollar. As such, they were described as a bridge between the traditional financial system and the crypto trading ecosystem.

TeraUSD (also known as UST) is in this currency. It was claimed that one UST is worth one US dollar. At one point the market value of this currency reached $ 19 billion. But a week ago its dollar parity was broken. Since then its price has dropped so fast that last Friday it was priced at 16 cents.

As a result of this growth, traders' confidence in everything from the largest cryptocurrency, from Bitcoin to smaller currencies, has plummeted. The most popular static coin is Tether, with an estimated market value of $ 80 billion. But on Thursday, the dollar's parity with the dollar also broke. While Tether claimed to have assets in hard currency. So its price is not based on complex trading algorithms.

Genki Oda, CEO of RemixPoint, a crypto trading company in Japan, told the Nikkeasia.com website: "Algorithmic static coins have their limits. In the future, only one fixed coin will remain, which will have significant assets.