Falling to nearly $29,000, bitcoin hit its lowest level since June 2021 on Wednesday. progressed like Solana, Cardano or Avalanche.
A new element has been added to the troubles of a market already under strong pressure for several weeks: the crisis of confidence in the third largest
"stablecoin"
of the market, the Terra USD, which collapsed from 50% in 24 hours.
Used in the decentralized finance ecosystem, this cryptoasset is supposed to have a value pegged, in theory, to that of the dollar.
On Tuesday, it abruptly lost this parity following massive withdrawals on a decentralized finance platform, which led to a sudden imbalance between the supply of circulating tokens and the demand.
Read also
Crypto-asset exchange platforms know little about the crisis
However, unlike other existing stablecoins, the parity of the Terra USD is not…
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