Terra collapse by 99% and a new low of bitcoin. Main events of the week

Posted 13 May, 2022

The USDT exchange rate fell by 5%, the Celsius crypto service withdrew over $500 million from the Anchor protocol, and the IMF pointed to the effectiveness of cryptocurrencies to circumvent restrictions and other events over the past three business days


Wednesday


The IMF pointed to the effectiveness of cryptocurrencies to circumvent restrictions

The International Monetary Fund believes that the popularity of cryptocurrencies is often associated with high inflation and unstable economic conditions.

Terra rate collapsed by 95% in a day and fell below $1.5

The value of the altcoin continues to fall due to problems with the peg of the stable coin UST to the US dollar.

Thursday


The Bitcoin exchange rate collapsed by 14% and for the first time since 2020 fell below $27,000.

The cost of the first cryptocurrency has fallen by 14% in a day, its market capitalization has decreased to $515 billion.

The stablecoin USDT fell by 5%

The price of the cryptocurrency fell to $0.95 while bitcoin updated its price low in 2020.

Friday


Crypto service Celsius withdrew over $500 million from the Anchor protocol

Wallets owned by the company transferred 261,000 ETH to Anchor in five months, and after May 11 managed to withdraw the entire amount.

The bitcoin rate after the collapse increased by 13% and rose above $30,000.

Quotes of the first cryptocurrency are recovering after they fell to a minimum since 2020 on the morning of May 12.

Previous story

16 May, 2022 09:13

← Yesterday on Wall Street

The New York Stock Exchange ended sharply higher on Friday thanks to a technical rebound at the end of a week of sharp decline. J. Powell indicated that the Fed does not favor very strong hikes of 75 basis points but rather of 50 basis points, at the next two meetings in June and July. 

Yesterday on Wall Street

Next story

13 May, 2022 15:05

Twitter: Elon Musk casts doubt on his takeover and falters the action →

The billionaire announces that the acquisition is suspended, wishing details on the number of false accounts, before ensuring that he is “still committed” to completing the transaction.

Twitter: Elon Musk casts doubt on his takeover and falters the action
Write a comment
 
Prove you’re not a bot + 5 = 11