- BTC trades below $32k with a market cap decline of over $200 billion.
- LUNA and UST price nosedive affects BTC price performance.
- ETH, ADA, SOL, and XRP boost growth rate from +2% to +4%.
The crypto industry is in turmoil as its whole market capitalization has dropped to almost 0.2% in the past 24 hours. This carnage is felt across the space that even Bitcoin, the king of crypto assets, was forced to submit to the bears. Currently, BTC trades below $32k with a market cap decline of over $200 billion in the last 30 days.
LUNA and UST are other examples of assets that disturbed the market with their recent drastic plunge. It is said that the breakout of UST contributes to the price sink of Bitcoin that influences the price dive of other cryptos in the market. Furthermore, analysts consider that the LUNA and UST drama is one of the worst things that happened in the industry.
This made Binance CEO CZ react in a tweet post:
1/8 These ...
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