$200 Billion Wiped Off Cryptocurrency Market in a Day Ethereum, 2nd Largest Digital Currency, Loses 20% Value in 24 Hours

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Ethereum, the world’s second largest cryptocurrency after Bitcoin, has joined the cryptocurrency crash

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plummeting in value by 20 per cent over the last 24 hours, reported the Daily Mail.

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Investors in more traditional stocks are also hurting, with the US tech stocks plunging in recent weeks too,

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including Amazon which has fallen 30 per cent in a month.

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Ethereum has now lost more than half of its value this year, Bitcoin has shed a third of its value since January and Luna with 98 per cent of its value

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wiped out overnight with suicide hotlines pinned to the currency’s Reddit page as a result, Daily Mail reported.

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Coinbase warned users could lose all of their money if the company goes bankrupt – after the downturn led to a 27 per cent fall in its share price,

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Stablecoins like Luna are popular in times of turmoil in crypto markets and are often used by traders

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Luna lost its pegging to the dollar this week, falling below $1 per coin, causing prices to drop dramatically as the industry panicked (similar to a run on a bank).

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