Over $200 billion wiped off cryptocurrency market in 24 hours

More than $200 billion of wealth was wiped out from the cryptocurrency market in just 24 hours amid a massive sell-off, Bloomberg reported on Thursday citing CoinMarketCap data. The crypto plunge was driven by the collapse of the TerraUSD stablecoin. The plunge affected major tokens and Bitcoin plunged by as much as 10% to its lowest level since December 2020.