LUNA Falls 88% in 5 Weeks: Causes and Effects of Its Failure

LUNA's price has fallen by 88% from its all-time high level reached on April 5th, thus exposing huge problems with its stablecoin UST and native token LUNA as investors lose confidence in Terra's sustainability.

Timeline of Terra-luna

The situation surrounding TerraUSD is complicated and has unfolded exceedingly fast. Here's what you should know so far. The post Terra, Luna and UST: How we got here appeared first on The Block.

Terra founder Do Kwon has revealed a plan to rebuild the project's ecosystem following LUNA's 99% collapse from its all-time high to below $1 and TerraUSD (UST) losing its dollar peg. In a Twitter thread, Kwon tells his 532,000 followers that he intends to work with the Terra community to “weather the crisis” and get The post LUNA Collapses to $0.69 As Terra Founder Do Kwon Outlines Plan To Rebuild Ecosystem appeared first on The Daily Hodl.

Terra's (LUNA) UST de-pegging from the U.S. Dollar was part of a ‘brilliant' Soros-style stratagem that netted its perpetrator close to a billion dollars. So claims market analyst the Onchain Wizard, who delved into the anatomy of the attack to uncover its secrets.

Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39.26% since April 3, from $230.18 billion to the current $139.81 billion. The sudden value drop stemming from Terra's native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position

Investors in the Terra crypto ecosystem have taken to social media amid major price declines in LUNA and UST. The post Amid Terra crypto turmoil, ordinary investors start to pick up the pieces appeared first on The Block.

Do Kwon has advised LUNA investors to “stay strong” as the price approaches zero. Prices have plummeted since the UST stablecoin lost parity with the US dollar, hitting a new low this morning. LUNA, UST Tumble Toward Zero LUNA/USD is now trading at below $1 To put things in perspective, prices have dropped over 98% …

Terraform Labs CEO Do Kwon announced a possible “solution” to deal with the massive crash LUNA and UST experienced over the last couple of days. The post TerraForm Labs CEO Do Kwon announces recovery plan for LUNA, UST following crash appeared first on CryptoSlate.

Two days have passed since Terra's UST got knocked off its dollar peg and it looks like any recovery attempts have failed. LUNA has turned out to be the unfortunate casualty of an unfortunate series of events.

During the last few days, the crypto economy has been tumultuous as billions have fled the market in search of safety. The issues with LUNA sparked a significant sell-off as Terra's native digital asset dropped 97% in value against the U.S. dollar in 24 hours. Terrausd has slipped 67% lower than the $1 parity and

Do Kwon, co-founder and CEO of Terraform Labs, the entity behind Terra (LUNA), found himself in a peculiar position with his bet that LUNA would stay above USD 88 - as the coin dropped over 90% in a single day.