Cryptocurrency Investment Risks: Potential for 100% Loss

Cryptocurrency is a digital investment instrument that was once a favorite among investors.

Cryptocurrency investment profits could reach hundreds or even millions of percent, causing investors to rush to seek fortune in digital currencies.

However, with global turmoil driving up energy commodity prices, investors are now turning back to commodity assets, weakening the value of digital currencies.

The US Federal Reserve's interest rate hike has also caused crypto assets to plummet, with some even crashing by 100%.

One cryptocurrency whose price has plummeted is Terra (LUNA). Within days, this cryptocurrency with the code LUNA became worthless.

On May 8, 2022, the price of LUNA was still traded above Rp1 million per coin. However, the price of LUNA plummeted by 100% to only Rp0.25 per coin on May 13, 2022.

Then, on May 18, 2022, until 09:22 WIB, LUNA was traded at Rp2.72 per coin.

Another cryptocurrency that experienced the biggest decline in the last month is Wrapped LUNA (WLUNA), which fell by 100% to Rp2.65 per coin. WLUNA is an Ethereum token intended to represent Terra on the Ethereum blockchain.

The next cryptocurrency to experience a sharp decline was TerraUSD. This digital coin, with the code UST, plummeted 91.05% in the last month to Rp1,285.36 per coin.

Followed by Mirror Protocol (MIR) which fell 81.33% to Rp4,088.24 per coin, Perpetual Protocol (PERP) decreased by 69.63% to Rp17,001.31 per coin, and SuperFarm (SUPER) which fell 66.51% to Rp3,014.31 per coin.

After that, Spell Token (SPELL) plummeted 64.13% to only Rp20.96 per coin, followed by Inverse Finance (INV) falling 63.66% to Rp1.41 million per coin.

Then Decentralized Social (DESO) fell 62.46% to Rp218,670 per coin, and Gods Unchained (GODS) which fell 61.86% to Rp5,625.97 per coin.

(Also Read: Most Cryptocurrency Users Are Located in Asia)