Difference between revisions of "LUNA Collapse in May 2022"

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LUNA Collapse in May 2022 (view source)

Revision as of 23:19, 11 May 2022

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In May 2022, bearish crypto conditions resulted in the depeg of subsequent collapse of [[LUNA]] 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 of subsequent collapse of [[LUNA]] 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.


May 09 the Federal Reserve released a report that identified three assets with funding risks: certain money market funds, some bond funds, and stablecoins. The latter sector, it said, "remains exposed to liquidity risks" and "vulnerable to runs." <ref>[https://decrypt.co/100104/after-collapse-terra-ust-next-algorithmic-stablecoins After the Collapse of Terra's UST, What's Next for Algorithmic Stablecoins?]  Jeff Benson May 11, 2022</ref>
The collapse wiped over $40b in value in the Terra ecosystem and caused most cryptocurrencies to decline by over 20%.


== Background ==
== Background ==
Retrieved from "https://wiki.defillama.com/wiki/Special:MobileDiff/2227"

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