LUNA
🔮Two years ago, Terra’s LUNA cryptocurrency experienced one of the most catastrophic collapses in the history of the crypto market, falling in price by 99.999%. At the beginning of May 2022, LUNA's price was around $100, but by May 15 it had fallen to less than $0.002. This sharp decline resulted in investor losses exceeding $7 billion.🌟🌟The collapse was triggered by the failure of Terra's algorithmic stablecoin, US Terra (UST), which was supposed to be stabilized by the liquidity of LUNA. However, this model failed as UST had no support and was very volatile.🧧 When UST lost 40% of its value, LUNA's price fell irreversibly. Some traders benefited from the fluctuations, but many investors lost significant amounts, including life savings. Terra founder Do Kwon fled and became a fugitive before his arrest at Montenegro International Airport. Both South Korea and the United States sought his extradition for financial crimes, and South Korea ultimately secured his extradition.#BTC #binance #LUNA/USTD