Terra LUNA and UST's fall from grace has been one of the most impactful events in crypto - comparable to the collapse of Mt. Gox in 2014 and the sharp market crashes that occurred in January 2018 and March 2020. CryptoCompare details the events of the last few days, the repercussions, the aftermath, and what's next for the space.
In the last three days:
- UST’s peg has fallen to a low of $0.078. At the time of writing it is trading at $0.08.
- LUNA’s market capitalization has fallen from $41.2bn to $6.6mn, the largest destruction of wealth in this amount of time in a single project in crypto’s history.
- Over 6 trillion new LUNA tokens have been minted, which has diluted its price down to $0.00000953.
- LUNA supply is currently 16,928x what it was 48 hours ago.