In one month…the price of the digital currency LUNA collapsed from $116 to $0.0004
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Answer In one month…the price of the digital currency LUNA collapsed from $116 to $0.0004
The LUNA project has injected a lot of ink and is still doing it, and its theme is still high on the crypto arena.
And all of this is justified, as the currency collapsed suddenly and completely unexpectedly, as it was trading last April 5 at a new price peak estimated at 116 dollars.
The project had a great momentum that helped its spread further, as the UST advanced in the ranking of the stablecoin list as it ranked third behind both USDT and USDC.
What made the founder of the project “Do Kwon” see in the “Terra” project that it is invincible. He even sniffed at the rest of the projects that could not continue. In a recent interview, he told that 95 percent of crypto projects die and are unable to continue while he stands smiling and enjoying what happens with her.Read:South Korea’s regulator: Crypto tax deferral is inevitable for these reasons!
To spin the circle and reverse positions.
The collapse of the LUNA project:
In a record time, many data have changed, and the project, which was recently classified among the top ten currencies, declined in its rank and collapsed in value.
The problem started with the UST stablecoin, which could not maintain its peg to the value of 1 dollar, which negatively affected it and its reliability, and the impact moved to the digital currency LUNA, which was minted more in an attempt to maintain the price of UST at the value of 1 dollar.
But all attempts failed and the digital currency UST collapsed, followed by the digital currency LUNA, which is estimated at the time of writing at $0.0004.
Currently, the development of the currency is very difficult, and investing in it is considered risky.
Despite the plan revealed by the founder of the project “Do Kwon”, the project is still very dangerous and it is difficult to predict its return to its glory and to what it was.Read:Will Bitcoin fall as President “Trump” infected with the “Corona” virus?
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