First Mover Asia: Bitcoin at 16-Month Low as UST Collapse Shows Risks of ‘Algo’ Stablecoins

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Bitcoin, the most important cryptocurrency by market capitalization, was lately buying and selling at $28,500, down about 7%, though it fared higher than most different main cryptos, underscoring its standing as a much less dangerous possibility throughout tumultuous instances for the broader digital property market. Ether, the second-largest crypto by market cap, was additionally off, declining roughly 11% over the identical interval, to roughly $2,050.

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