On Thursday, the price of bitcoin plummeted to its lowest level in 16 months after a major sell-off of digital assets. Other big cryptocurrencies have been pulled down by the collapse of TerraUSD, the so-called stablecoin that lost its dollar peg last week, along with risk assets like tech stocks.
The world's largest cryptocurrency fell over 12% to $27,194.41, its lowest level since January 2021.
Ethereum, the world's second-largest cryptocurrency by market value, dropped 23% to $1,841.12.
Other cryptocurrencies like as XRP were down 34%, Solana were down 38%, Cardano were down 35%, Stellar were down 29%, Avalanche were down 39%, Polkadot were down 32%, and Terra USD were down 27%. Other big alt currencies like Dogecoin and Shiba Inu were down 35% and 38%, respectively.
Overall, the big top tokens have lost a significant amount of ground in the recent 24 hours.