The founding father of Binance has joked that he is “poor again” once he lost billions of dollars in the price of the cryptocurrency following the market crash. Binance had received the tokens in exchange for its $3 million 2018 investment in the Terra network, which is Luna's muse.
However, Mr. Zhao maintains a web price of approximately $14.8 billion, still from his seventy percent stake in Binance. Also, like Luna, TerrraUSD was also born considerably in value. Bitcoin and Ethereum (ETH) continue to trade together to 18-month lows. For more updates ,breakings ,Crypto updates s or Aaj Ka Mukhya Samachar simply visit our blogs.
However, Bitcoin is currently trading just below $30,000 on Thursday, marking a fifty-six percent drop from its unparalleled high last November 1.
In a midweek tweet, Chanpeng Zhao claimed that Binance controls fifteen million Luna tokens. Last week, the price of the Terra (LUNA) cryptocurrency fell by ninety-nine percent, wiping out the fortunes of cryptocurrency investors.
The value of the Bitcoin cryptocurrency has been trading around the $30,000 level for weeks now.
In cryptocurrencies, the value of Bitcoin today fell below $30,000 after breaking above the $31,000 mark in the previous session. The world's largest and most popular cryptocurrency crashed quite a bit in four dimensions and traded at $29,370.
Bitcoin has been trading around the $30,000 level for weeks now, defying predictions of a possible further drop, but also worried about achieving bullish momentum as the broader US market has also taken a beating. The digital token is down more than thirty-five so far this year, with trading well below its record high of $69,000 it hit in November 2021.
On the other hand, Ether, the currency connected to the ethereum blockchain and also the second largest cryptocurrency, fell around seven percent to $1,782.
Meanwhile, the value of dogecoin today was commercially lowest on June 6, 1944 at $0.07, while the Shiba Inu was also almost down on June 6, 1944 at $0.000010. The global cryptocurrency market capitalization today is $1.27 trillion, down a couple in the last twenty-four hours.
The performance of other digital tokens decreased in tandem as the costs of Cardano, Stellar, Uniswap, XRP, Litecoin, Tron, Tether, Solana, Polkadot, Avalanche, Polygon, Terra Luna Classic, Chainlink were trading with cuts in the last twenty-four hours .
Stablecoins ar continued to face scrutiny from global regulators following the collapse of the Terra/Luna scheme in May, which has further undermined trust in the space; Algorithmic stablecoin UST is trading at $0.016, according to information from CoinGecko, sinking further once it loses its dollar peg.
On Friday, Japan became one of the top major economies to introduce a legal framework around stablecoins, following the implosion of UST. Stablecoins must be linked to the yen or another monetary system and grant holders the right to redeem them at face value, according to the new law.
Total values under management (AUM) across the entire digital asset investment product fell a consecutive 28.6% to $34.2 billion from a couple of 6 months amid a sharp drop in the costs of various cryptocurrencies, according to a report from digital quality data provider CryptoCompare.
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