Major cryptocurrencies are falling all at once, with $30,000 of Bitcoin collapsing again when UST, a stable coin issued by Terra, plunged.
As of 10:30 p.m. on the 11th, Bitcoin plunged 6.76% from 24 hours ago to $29,865 on CoinMarketCap, a global coin market relay site.
Bitcoin recovered $30,000 due to the influx of low-priced buying, as well as rose to the $31,000 range.
However, as UST prices plunge, the shock spreads throughout the market, and other cryptocurrencies such as Bitcoin seem to be falling at once.
Even though UST is a stable coin peg (fixed) to the U.S. dollar, it is trading at $0.4063, down 57.18% from 24 hours ago, as well as broken pegs.
The UST plunged nearly 70 percent to $0.2998 about an hour ago. As a result, UST, which remained in the top 10 market capitalization, fell to the top 20 market capitalization.
As such a shock spreads throughout the cryptocurrency market, the Bitcoin $30,000 level collapses again, and Ethereum, the second-largest market capitalization, is trading at $2224, a 7.72% plunge.
Binancecoin, the fifth-largest market capitalization, also plunged 13.43% to $284 from 24 hours ago.
