Several major cryptocurrencies suffered heavy losses early Monday as the market's valuation plunged to nearly $ billion. The huge slump in June was triggered by Celsius Network, a major US cryptocurrency lending company, after it froze withdrawals and. Recent high-profile financial meltdowns at Bitcoin, Celsius, and Terraform Labs, which together wiped out hundreds of billions in market value. PROGRESSIVE SPORTS BETTING SYSTEMS

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HUOBI BITCOIN PRICE

So it's impossible to say for sure whether bitcoin will crash in the future Some in the crypto industry as well as financial experts have advised investors to sell their crypto holdings, given the tax regime announced for virtual digital assets. Investors who have made positive returns should definitely consider this, especially if they are not in the highest tax bracket of 30 percent Business Today What happened to Bitcoin today?

What's Happening?! Basically, Ethereum is known to yield more returns than Bitcoin, but right now, with the delay in Ethereum's upgrade that is postponed to be launched in the Q3 of , experts predict that the crypto will soon collapse and investors might suffer major losses! The Bitcoin ecosystem is still developing, making it possible if not likely that Bitcoin itself will continue to evolve over the coming decades.

But however Bitcoin evolves, no new bitcoins will be released after the million coin limit is reached You may not have heard of UST before, or know what a stablecoin is, but it's a big deal. Billions of dollars in crypto wealth have been vaporized, sending shockwaves throughout the whole market. There are two intertwined stories here: That of the UST stablecoin and that of luna, both of which are part of the Terra blockchain. Then there's luna, the centerpiece of Terra's ecosystem.

Its value has collapsed in one of the most stunning crypto crashes ever recorded. Luna's price chart depicts a historic crash. It's brought up questions about similar tokens namely Tether, and regulators across the political isle have their eyes set on stablecoins. Here's what you need to know. What's a stablecoin? To understand the crypto catastrophe, you first need to know what a stablecoin is. In essence, it's a cryptocurrency that's pegged to a more stable currency.

Stablecoins are integral parts of "DeFi," or decentralized finance, designed to be ways for investors to hedge against the volatility of the cryptocurrency market. Stablecoins also provide the means for cryptocurrency loaning and borrowing, making them a foundational technology of DeFi. The UST coin, created by Terraform Labs, is different from tether and USDC in a key way -- it's not backed by actual US dollars, but rather is what's known as an algorithmic or decentralized stablecoin.

Tether's US reserves have come under scrutiny in the past , with there being some conjecture over how many dollars it actually holds -- but it's US dollar backed in principal. For Terraform Labs, the idea was that through a few clever mechanisms, plus billions in bitcoin reserves, the UST's dollar peg could be maintained without it having to be backed by the dollar.

The selling point of bitcoin and ether is that they're difficult for bureaucrats, politicians and central bankers to control, but their downside is price volatility. Terra is a blockchain, just like ethereum and bitcoin. While ethereum's blockchain natively produces ether tokens, terra natively produces luna.

To create UST, you need to burn luna.

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