Every fortnight, Ian Lowe, CEO for Dacxi Global appears on AusBiz News to talk all things crypto. In this edition, Ian discusses the recent turmoil that took place within the market over the course of the past week.
The losses have continued in the crypto complex with Bitcoin hitting 16-month lows of 27 thousand dollars. It was faring better than most other major coins, as it’s seen as the less risky option during these times. Ether was also off, joining the likes of Solana and Cardano with losses of more than 15%. It follows the mass sell-off triggered by TerraUSD’s stablecoin implosion against its dollar peg. The Luna token now has lost more than 99% of its value over the past 7 days.