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After a successful start to the year, Terra (LUNA) had to go through hard times, as its course collapsed significantly. Now LUNA is worth a fraction of a cent, and the UST stablecoin operating in the Terra ecosystem has also collapsed. Back in April, LUNA was trading around $120, but lost nearly 99% of its value over the next few weeks.
The collapse of LUNA led to the fact that literally $ 30 billion evaporated, and regulators once again drew attention to the crypto industry. The fall of UST called into question the work of stablecoins, since in April the capitalization of the stablecoin in the Terra ecosystem was more than $ 18 billion.
Currently, LUNA shows bursts of extreme exchange rate volatility and the asset managed to get to $ 0.0002, which indicates an increase of 100%. Although the asset’s rate is still a pale shadow of what it was just a month ago, any upward movement attracts attention, as many supporters of the project hope for its revival.
Some market experts believe that the luna crash was unlike anything else that happened in the market, so any subsequent actions should be subject to careful analysis backed by facts and figures.
Despite the fact that the current rise in the LUNA rate is not associated with any developments of the project itself, investors who have lost large sums hope for a second life of the asset. Some ordinary market participants also support the coin and want it to recover from the fall, as it was previously included in the top of crypto assets.
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