{"id":444262,"date":"2022-05-12T13:50:01","date_gmt":"2022-05-12T11:50:01","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=444262"},"modified":"2022-05-12T13:53:58","modified_gmt":"2022-05-12T11:53:58","slug":"crypto-carnage","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/cryptocurrency\/444262-crypto-carnage.html","title":{"rendered":"Crypto carnage"},"content":{"rendered":"

A massive sell-off in cryptocurrencies wiped over $200 billion of wealth from the market in just 24 hours, according to estimates from price-tracking website CoinMarketCap.<\/p>\n

The broad plunge in the crypto complex, driven by the collapse of the TerraUSD stablecoin, hit major tokens hard.<\/p>\n

Bitcoin plunged by as much as 10% in the last day to its lowest level since Dec. 2020, while Ethereum dropped as much as 16%.<\/p>\n

The carnage showed signs of spreading further Thursday as crypto-related stocks in Asia also\u00a0cratered.<\/p>\n

Hong Kong-listed fintech firm BC Technology Group Ltd. closed down 6.7%. Japan\u2019s Monex Group Inc. \u2014 which owns the TradeStation and Coincheck marketplaces \u2014 ended the day down 10%.<\/p>\n

As central banks across the world move to aggressively tighten monetary policy to fight inflation, digital tokens have faced selling pressure amid a broader flight from risk assets.<\/p>\n

S&P 500 futures lost 0.8% Thursday, tracking losses in the benchmark MSCI Asia Pacific Index.<\/p>\n

Investors in the crypto space are no stranger to\u00a0wild swings\u00a0in the market, however, and Bitcoin and Ethereum pared losses quickly to trade down 4.2% and 9%, respectively, as of 4:45 p.m. Hong Kong time.<\/p>\n

\n

Now read:\u00a0“Masterminds” of South Africa’s biggest Bitcoin scam summonsed \u2014 on the hook for R4.7 billion<\/a><\/h3>\n","protected":false},"excerpt":{"rendered":"

A massive sell-off in cryptocurrencies wiped over $200 billion of wealth from the market in just 24 hours.<\/p>\n","protected":false},"author":341034,"featured_media":444264,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[44696],"tags":[187,42124,78350,78346,78348],"class_list":["post-444262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-ethereum","tag-luna","tag-terra","tag-terrausd"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/444262"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/341034"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=444262"}],"version-history":[{"count":0,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/444262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/444264"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=444262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=444262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=444262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}