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🌐 Blockchain Technology: A Promising Future, But Where Is Algeria 🇩🇿?
Around the world, blockchain technology is emerging as one of the most important technological revolutions that redefines how data is managed, value is exchanged, and decentralized ecosystems are built. With the expansion of Web 3.0 applications, the future looks bright. 🌟
But in Algeria, this technology remains underrepresented. Whether in academia or entrepreneurship, initiatives seem few, despite the enormous potential it offers.
🔍 Imagine the opportunities:
Facilitating cross-border payments using blockchain technology.
Using decentralized solutions to ensure transparency in various sectors.
Forming a new generation of experts in the field of Web 3.0.
💬 What about you?
Do you know of startups in Algeria working on projects related to blockchain technology?
Are there universities in Algeria that support this technology or include it in their educational programs?
👉 I would love to hear from you and meet those who share my belief in the transformative impact of Web 3.0. Together, we can build something special for Algeria. 🌟
The Rise and Fall of Terra (LUNA): A Journey of $119 Glory to $0.00001 Collapse 🌑
In one of the most dramatic chapters in crypto history, Terra ($LUNA
) climbed to an all-time high of $119 before crashing to near-zero at $0.00001 in May 2022. The collapse erased billions in market value and left investors worldwide reeling. Here’s the story of LUNA’s meteoric rise, historic crash, and its transformation into Luna Classic (LUNC).
🚀 LUNA’s Meteoric Rise
1️⃣ The Vision: Founded by Do Kwon and Terra Labs, Terra aimed to revolutionize payments through algorithmic stablecoins. LUNA was pivotal in maintaining the peg of its stablecoin, UST (TerraUSD).
2️⃣ Rapid Growth: By 2022, Terra’s ecosystem attracted billions in Total Value Locked (TVL), with LUNA hitting $119 in April. Strong adoption and integration with DeFi platforms placed LUNA among the top 10 cryptocurrencies by market cap.
3️⃣ Investor Confidence: The crypto world hailed Terra as a groundbreaking project, attracting both institutional and retail investors alike.
💥 The Catastrophic Collapse
🔻 Algorithmic Flaw: UST’s $1 peg relied on a burn-and-mint mechanism with LUNA. When UST depegged due to massive withdrawals, this mechanism minted excessive LUNA, leading to hyperinflation.
🔻 Death Spiral: LUNA’s supply surged from 350 million to over 6 trillion, causing its value to plummet to near-zero.
🔻 Investor Panic: The collapse wiped out over $60 billion in market value within days, devastating countless investors and shaking the crypto industry.
🌟 The Aftermath: Luna Classic ($LUNC)
1️⃣ Rebranding: After the collapse, Terra forked its blockchain. The original chain became Terra Classic (LUNC), while a new Terra 2.0 emerged with the token LUNA.
2️⃣ Community Rebuilding: The Terra Classic community initiated token burn campaigns to reduce LUNC’s massive supply and restore some value.
3️⃣ Market Impact: The crash raised red flags about algorithmic stablecoins and unsustainable tokenomics, leading to increased scrutiny across the crypto world.
📊 Key Stats from the Collapse
All-Time High (LUNA): $119 (April 2022)
Lowest Price: $0.00001 during the collapse
UST Depegging: Fell from $1 to $0.03
Market Value Lost: Over $60 billion
🔮 Lessons for Crypto Investors
1️⃣ Algorithmic Risks: The failure of UST highlighted the fragility of algorithmic stablecoins without sufficient collateral.
2️⃣ Diversify Investments: Never overexpose yourself to a single asset, especially in volatile markets.
3️⃣ Trust Collateralized Assets: Stablecoins like USDC and DAI gained traction for their collateral-backed stability.
🔥 What’s Next for LUNC?
Luna Classic remains a speculative asset. While its community is working on reducing supply and rebuilding trust, the Terra collapse stands as a cautionary tale for investors.
Are you holding LUNC? Share your story and thoughts on the future of T erra Classic!