Economics & Finance

Cryptocurrencies market declined to $1.2 trillion in April

by Anadolu Agency

The decline that started in November last year in the crypto money market continued with the acceleration of escape from risky assets in a high inflationary environment,

Bitcoin and Ethereum carried their downward trends to a seventh consecutive week with losses in the market where reliability is questioned due to recent events in LUNA.

The cryptocurrency market, which has experienced hard ups and downs since it emerged due to its structure, has been hit hard since November with the increase in inflation and the high interest rates.

The question of trust after what happened with stable coin, LUNA, which was issued to stabilize the price of cryptocurrency, UST, which was designed to be equal to $1 on the Terra platform, accelerated the collapse.

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