Bitcoin plummeted to a 12-month low on Thursday amid a global cryptocurrency crunch accelerated by the near-collapse of the terraUSD stablecoin. The dive took its toll on local crypto shares and the debut of Australia’s first listed digital asset funds.
The world’s largest cryptocurrency by market capitalisation, bitcoin, fell 5.8 per cent on Thursday to $39,413, hitting the lowest ebb since late 2020. Ethereum, the second largest digital token by market capitalisation, fell 12.11 per cent to $2633 a coin, representing a six-month nadir.
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Jessica Sier is the North Asia Correspondent for The Australian Financial Review. She is based in Tokyo, Japan. Jessica has previously written on technology, global capital markets and economics. Connect with Jessica on Twitter. Email Jessica at jessica.sier@afr.com
Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com
