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#teraluna dont forget to buy tera and consider this dip to be its last one so dont make yourself a loser and at but it for 50$ note i am not your financial advisor but according to my calculations its the time to buy some and hold for at least 15 days
🔔 Terraform Labs' Ex-CFO, Han Chang-joon, Extradited to South Korea !
Former Terraform Labs chief financial officer, Han Chang-joon, has been extradited from Montenegro to South Korea. The extradition, which took place on February 5, was confirmed by a statement on the Montenegrin government website. Although identified as J.C.H. in the statement, the individual's identity was confirmed as Han Chang-joon by an unnamed police spokesman, according to Reuters. $LUNC $LUNA
#Write2Earn #teraluna #TeraClassic #Terraform
Former Terraform Labs chief financial officer, Han Chang-joon, has been extradited from Montenegro to South Korea. The extradition, which took place on February 5, was confirmed by a statement on the Montenegrin government website. Although identified as J.C.H. in the statement, the individual's identity was confirmed as Han Chang-joon by an unnamed police spokesman, according to Reuters. $LUNC $LUNA
#Write2Earn #teraluna #TeraClassic #Terraform
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#teraluna The biggest crypto collapse, $300 billion evaporated in 72 hours!
In May 2022, the crypto world experienced one of its biggest debacles with the spectacular collapse of Terra LUNA, wiping out more than $40 billion in value in just 24 hours. This disaster, which shook the entire ecosystem, will remain etched as one of the biggest crashes in the history of digital assets.
A dizzying fall with devastating consequences
On May 7, 2022, the Terra ecosystem, created by Do Kwon and Daniel Shin, still dominated the crypto market from its offices in Singapore. Its algorithmic stablecoin UST, supposed to maintain perfect parity with the US dollar, had a capitalization of $18 billion, while the LUNA token peaked at $119.
The Anchor protocol, the cornerstone of the system, attracted investors with staggering returns of 20% per year on UST deposits.
But within 48 hours, the unthinkable happened. A massive wave of withdrawals exceeding $2 billion sent the UST faltering, breaking its parity with the dollar. This first crack triggered a catastrophic domino effect: the more the UST fell, the more the algorithmic mechanism created new LUNA tokens, precipitating their value towards zero.
The Terra Foundation Guard’s desperate attempt to deploy its Bitcoin reserves to stabilize the system proved futile. In less than 72 hours, LUNA and UST collapsed, wiping out the savings of thousands of investors.
A crypto earthquake with lasting repercussions
The shockwave of this disaster quickly went beyond the borders of the Terra ecosystem. Major players in the sector such as Celsius, Voyager and Three Arrows Capital have successively declared bankruptcy, victims of their exposure to the disaster. The global capitalization of the crypto market has thus plunged by more than $300 billion.
In May 2022, the crypto world experienced one of its biggest debacles with the spectacular collapse of Terra LUNA, wiping out more than $40 billion in value in just 24 hours. This disaster, which shook the entire ecosystem, will remain etched as one of the biggest crashes in the history of digital assets.
A dizzying fall with devastating consequences
On May 7, 2022, the Terra ecosystem, created by Do Kwon and Daniel Shin, still dominated the crypto market from its offices in Singapore. Its algorithmic stablecoin UST, supposed to maintain perfect parity with the US dollar, had a capitalization of $18 billion, while the LUNA token peaked at $119.
The Anchor protocol, the cornerstone of the system, attracted investors with staggering returns of 20% per year on UST deposits.
But within 48 hours, the unthinkable happened. A massive wave of withdrawals exceeding $2 billion sent the UST faltering, breaking its parity with the dollar. This first crack triggered a catastrophic domino effect: the more the UST fell, the more the algorithmic mechanism created new LUNA tokens, precipitating their value towards zero.
The Terra Foundation Guard’s desperate attempt to deploy its Bitcoin reserves to stabilize the system proved futile. In less than 72 hours, LUNA and UST collapsed, wiping out the savings of thousands of investors.
A crypto earthquake with lasting repercussions
The shockwave of this disaster quickly went beyond the borders of the Terra ecosystem. Major players in the sector such as Celsius, Voyager and Three Arrows Capital have successively declared bankruptcy, victims of their exposure to the disaster. The global capitalization of the crypto market has thus plunged by more than $300 billion.