The collapse of Terra’s LUNA and UST tokens has rippled through crypto markets, accelerating the fall in bitcoin's price and renewing concerns about digital assets. Now, crypto lending appears to be its next victim. TheSamReynolds and JPRubin23 report
Bitcoin had a forgettable Thursday. About altcoins, the less said, the better.
Still, other cryptocurrencies fared far worse, a sign of the risk-off environment that has investors veering away quickly from any asset with a whiff of risk. Ether, was trading at about $1,960, off about 5% after dipping under $1,800 earlier in the day, the first time since last July it had sunk below $1,800. In a sea of major crypto red, SOL, CRO, ADA and MATIC were each down roughly 10% at one point. SAND and ATOM were off 14.5% and 9%, respectively.
Equity markets did better, rallying late to finish slightly down from where they started the day. Still, rising prices loomed large as a report Thursday found that mortgage rates had climbed to 5.3%, their highest rate since 2009.
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