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Dec 5, 2023 · Users exploited the system to convert UST to LUNA, inflating LUNA's supply drastically. Within days, LUNA plummeted by over 99.99%, leaving holders with worthless bags of LUNC and USTC. The aftermath resulted in bankruptcy for several major crypto entities, questioning Terra's integrity.
- Peter Wind
- Senior Editor
Sep 20, 2022 · The Luna crypto network collapsed in what’s considered the largest crypto crash ever, with an estimated $60 billion wipeout, shaking the global digital currency market. There are two stories...
May 11, 2022 · The LUNA and UST Crash Explained in 5 Charts. One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday. By Sam Kessler, Sage D...
Jun 1, 2022 · Its companion token, LUNA, which was meant to stabilize UST's price, fell from $80 to a few cents by May 12. CoinDesk followed and reported on the rise and the ultimate demise of the...
May 25, 2022 · What's happening. The cryptocurrency market is in turmoil, exacerbated by the collapse of luna and the UST stablecoin, both tied to the terra blockchain.
May 26, 2022 · May 26, 2022 11:36 am. Terra is relaunching its Luna crypto token, following its dramatic collapse that cost investors billions little over a fortnight ago. The plan to reissue the coin was...
May 14, 2022 · Amid the craziest week in crypto ever, the collapse of Terra's UST stablecoin and governance token LUNA emerged as the biggest story. Amid the crash, LUNA, formerly a top 10 coin by market cap, fell 100% to fraction of a fraction of a cent, and UST, designed to stay pegged at $1, bottomed out at 13 cents. So what the hell happened?