Also APE, AVAX, SOL, SHIB lose

Also APE, AVAX, SOL, SHIB lose
Not Only Terra LUNA Crashes Brutally, APE, AVAX, SOL, SHIB Also Lose In the crypto crash

The crypto market has crashed by 16% in just 24 hours. In addition to Bitcoin, most coins have suffered major losses – including Avalanche, ApeCoin, Solana and Shiba Inu, to name a few. But the biggest loser is Terra (LUNA). What’s going on here?

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Crypto Markets Crash

It’s like a Ripple or domino effect that has hit you and is now derailing the rest of the cryptocurrencies. LUNA has lost 97% of its value after the UST stablecoin fell sharply.



The losses of other coins are not as massive as with Terra. But: you also have within 24 hours suffered devastating losses in the double-digit range.

Most altcoins are currently in the red. This is a serious blow for the crypto industry – the situation is still being analyzed.

Avalanche, for example, has fallen to 34% or below $ 32 and has even crashed below $28. A slump that is far worse than the correction in August 2021.

What’s more, Solana is now down 26%, currently at $52. Luna, the cryptocurrency of Terra, has plunged 97% since the collapse of USDT or the dollar stablecoin, falling below $1.

The total market capitalization of BTC is $550.71 billion on the daily chart / Source:

Cardano (ADA) has also slipped by 16%, or $ 0.56, and has seen huge falls in the process. They are even comparable to the events in February 2021. In addition, Polkadot (DOT) is in the last 24 hours crashed by about 24%, or about $ 9.

Other tokens and meme coins are also particularly volatile and crashing right now, such as Dogecoin. It’s down 23% to $0.087. Shiba Inu, on the other hand, has lost over 27% in the last 24 hours.

In the meantime, ApeCoin is also falling rapidly. The token has lost 37% of its market value over the past day, with the current price at $5.90. The price is now decreased by 85% compared to the price of $ 39.40 after the introduction in March.

Trouble in the Metaverse?

Even the Metaverse has problems: Decentraland and The Sandbox have fallen by 28% to $ 0.85 and 28% to $1.32, respectively. The Metaverse gaming tokens sold like hot cakes – especially after the switch from Facebook to Meta. But now they are rapidly losing value.

Overall, the crypto market has slumped by 14% within 24 hours. Led by the king of cryptocurrencies, Bitcoin. It had to accept a decline of 13% and has fallen to $ 27,000. Meanwhile, Ethereum has fallen to 12%.

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Text Credit: Newsbtc

Last updated on May 12, 2022

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