Difference between revisions of "LUNA Collapse in May 2022"

LUNA Collapse in May 2022 (view source)

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	In May 2022, bearish crypto conditions resulted in the depeg and subsequent collapse of [[LUNA]] and UST which crashed from over $80 to $0.69 in the space of five days. UST is the [[stablecoin]] which can be minted ~~with~~ LUNA as part of the [[Terra]] ecosystem which ~~is ran~~ by Do Kwon.		In May 2022, bearish crypto conditions resulted in the depeg and subsequent collapse of [[LUNA]] and UST which crashed from over $80 to $0.69 in the space of five days. UST is the [[stablecoin]] which can be minted using LUNA as part of the [[Terra]] ecosystem which was founded by Do Kwon.

	The collapse wiped over $40b in value from the Terra ecosystem and the wider cryptocurrency market subsequently declined by over 20%.		The collapse wiped over $40b in value from the Terra ecosystem and the wider cryptocurrency market subsequently declined by over 20%.