Cryptos Sink to February Lows

The cryptocurrency market has been taking a thud; she has lost almost US$250 billion since Thursday.

Bitcoin too has tumbled below US$35,000 for the first time since February.

Fellow crypto market giant Ethereum was trading at US$2,532 at press time.

Terra LUNA dropped by as much as 25%, ranking amongst the biggest losers, and is trading at US$64.26 at press time.

However, Algorand gained 12% to trade at US$0.7233 at press time. Algorand is been propped by a recent string of high-profile partnerships such as the FIFA World Cup.

TRON also continued its meteoric ride by gaining over 8% over the weekend to trade at US$0.08724 at press time.

The downturn follows the U.S. Federal Reserve announcing a 50 basis points interest rate hike.