Cryptocurrency Crash: Bitcoin Drops Below $28,000, Terra Luna Down 95%; Ethereum in Major Downtrend

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The Cryptocurrency market has crashed in the past 24 hours. At the time of writing this article, Bitcoin is trading at $27,401. BTC is down by 5.13 percent after breaking a key level of $29,016 earlier today. Cryptocurrency prices in India today (12 May 2022).

Terra Luna has crashed over 95 percent and currently trading at $0.13. According to Terra employees, $UST founder Do Kwon was responsible for the failed stable coin project ‘Basis Cash’.

Moreover, Ethereum is also showing a downtrend in the last 24 hours. BNB token dropped by 14.07 percent, Solana by 25.91 percent, XRP Ripple by 20 percent and Dogecoin crashed by 20 percent. The ADA token also showed a drop of 17 percent. According to CoinMarketCap, the global market cap has crashed by 9.37 percent in the last 24 hours and is at $1.27 trillion.

(The above story first appeared on Onhike on May 12, 2022 11:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website

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