WOW! Find Out The Biggest Crash in Crypto And the Coin Involved
The crypto market is filled with ups and downs, but when an asset loses 90 percent of its value in a single day, that's called a crash. We have experienced different crashes in Crypto from time to time, but this one is the biggest in history.
In May 2022, an algorithmic stable coin from TerraLab depegged from its peg to the U.S. dollar. UST's loss of its peg value caused a great panic in the crypto market, leading to the biggest crash in 2022. The price of Luna (the native coin of Terra ecosystem) crashed from $85 to 0.00001 in less than 48 hours.
The crash of TerraUSD (UST) and Luna had a ripple effect throughout the crypto market, and the total market capitalization of all cryptocurrenies fell by more than $2 trillion in a matter of days.