StablecoinRisk

👉😱LUNA, once a top 10 cryptocurrency, collapsed in May 2022 after its algorithmic stablecoin UST lost its dollar peg. Despite efforts to stabilize the system, hyperinflation caused LUNA's price to crash from $119 to nearly zero, erasing over $45 billion in market value. In response, the community launched Terra Luna Classic (LUNC) and began burning tokens to restore value. The collapse highlights the dangers of algorithmic stablecoins but also the community's drive to recover.

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#CryptoCrash #LUNA #StablecoinRisk #LUNC