Major exchanges around the world have suspended or delisted the Korean cryptocurrencies Luna and Terra, which have plummeted in the past week. The global cryptocurrency market capitalization also seems to have disappeared by nearly 1,300 trillion won in the past six months.
Correspondent Koh Ji-hyun.
Major cryptocurrency exchanges around the world have taken measures to suspend trading and delist the so-called ‘kimchi coins’ Terra and Luna, made by Koreans.
Following the delisting of Terra and Luna by large cryptocurrency exchange OKX, Crypto.com delisted Luna and FTX delisted related derivatives.
Coinbase, the largest cryptocurrency exchange in the US, is also planning to suspend trading from the 27th.
However, Binance, the world’s largest exchange, announced that it would suspend spot trading of Terra and Luna and then relist.
Changpeng Zhao, CEO of Binance, praised “progress” but also criticized “you should not buy a coin just because it has started trading. You have to be very careful.”
If you look at Coinbase, Luna is currently at $0.0001 each, and 1 tera, which was maintaining the value of 1 dollar, has fallen to 14 cents, continuing a never-ending decline.
In the midst of this, the Wall Street Journal reported that the total market capitalization of global cryptocurrencies has evaporated more than 1 trillion dollars, or 1284 trillion won of our money, in six months.
It is analyzed that the collapse in the value of stablecoins pegged to the dollar, including the Luna and Terra crashes, is partly responsible.
