A recent meltdown in the crypto market has caused panic among investors.
Wild swings are common with cryptocurrencies, but not many would have predicted stablecoins – that are touted as secure – could crash.
The unexpected fall in prices has sent the crypto world into meltdown as investors went into what has been compared with a “traditional run” on the banks.
Bitcoin reached its lowest point since 2020 and more than $500bn has been knocked off the sector’s trillion-dollar total market value. The coins later recovered some ground, but investor sentiment remains volatile.
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