Luna cryptocurrency developer’s escape brings down his own project

Over the previous day, the total capitalization of the crypto market increased by 0.73%. However, the figure is still below the psychologically important $ 1 trillion mark, indicating clear pressure from sellers. Investors remain focused on the actions of the Federal Reserve. Most experts predict that the US agency will raise the refinancing rate by at least 75 basis points in the near future.

The worst performance over the past day was demonstrated by the Terra coin (LUNA), which lost 8.04% in value. There was also a significant drop in trading volume of 46.7%. The current capitalization of the asset is $ 369.0 million (95th place in the ranking).

Next is the Terra Classic (LUNC) cryptocurrency, which fell by 6.71%. At the time of writing, the coin’s exchange value is $ 0.29. The trading volume fell by 46.5% over the day, while the asset holds the 32nd position in the capitalization ranking with $ 1.81 billion.

The top three cryptocurrencies are rounded out by Monero (XMR), which lost 3.47% of its value in 24 hours.

It is worth noting that the sharp decline in Terra-related cryptocurrencies is due to the flight of its founder Do Kwon from Singapore. The businessman himself said that he is not hiding and is ready to cooperate with law enforcement.