Overall Crypto Market Drops 2.6% in Last 24 Hours Amid fears of a global recession The data shows that European and Asian stocks fell slightly, whilereportDisruption of global supply chains It affects the market more. Due to China’s lockdown that extends for another week
In Asia, the Hang Seng Index Hong Kong’s shares closed down 3 percent on the day, while the Shanghai Composite lost 2.61%. In Europe, Germany’s DAX was down 0.31% and the European stock index Stoxx 600 was down 0.20%. The Nasdaq was down 0.67%, while the S&P 500 was down 0.31. %
confidence in the global market It has also spread to crypto markets, particularly Terra’s LUNA, AVAX and ether (ETH), Avalanche, with Terra seeing its biggest drop in the past 24 hours, with ether falling still. It breaks above the $3000 key support level and could cause the asset to drop to the $2,700 level.
LUNA is down 8% even as the Luna Foundation Guard (LFG) bought $173 million in additional bitcoin in its wallet over the past weekend. This brings the total holdings to 40,000 bitcoins.
LUNA fell to its previous support level of $85, almost a week after hitting an all-time high of $120, and current losses could drop further to the $70 level, its next major support.
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