The Cryptocurrency Market Crash of LUNA Coin

LUNA Coin Crash: On May 12, 2022, the LUNA coin plummeted over 99%, with its price falling from a peak of $119.5 to less than $0.0031, nearly wiping out its market value.

Market Impact: This crash caused turmoil in the cryptocurrency market, with over 370,000 overseas users experiencing liquidations within 24 hours, amounting to a liquidation value of $938 million. At the same time, other major cryptocurrencies such as Bitcoin and Ethereum also saw significant declines.

Subsequent Developments: After the crash, despite a brief rebound, the overall market value and price of LUNA coin have significantly decreased. As of November 19, 2024, the price of LUNA coin is $0.432542, with a market value of approximately $257.52 million.

Risk Warning: This LUNA coin crash event serves as a reminder to investors that the cryptocurrency market carries high risks, and investments should be made with caution.

This LUNA coin crash event has had a profound impact on the cryptocurrency market and serves as a reminder for investors to view market fluctuations rationally and invest cautiously.