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More Than $200 Billion Wiped Off Cryptocurrency Market in a Day

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WATCH: Crypto isn’t having a Lehman moment, Nexo co-founder Antoni Trenchev says.Source: Bloomberg

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.

The broad plunge in the crypto complex, driven by the collapse of the TerraUSD stablecoin, hit major tokens hard. 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%.