$LUNA : The Biggest Crypto Scam In History Lost $40 Billion In One Day

Terra (LUNA) is one of the most shocking events in the history of cryptocurrencies. In a single day, the wonderful $40 billion market cap vanished, destroying millions of investors. But how did it happen?

Here is the story of Terra's devastating failure, and every cryptocurrency investor should learn a lesson. .%002Laiba

1/Terra's blockchain, with its USDT algorithm stablecoin, promised to revolutionize payments. But unlike deposit-backed stablecoins, UST relies on unstable procedures with LUNA to maintain its 1-peg

2/The idea was simple: Users can always exchange 1 USDT for 1 worth of LUNA. But when the system is pressured, the very procedure designed to strengthen UST turns into a death spiral

On 3/May 2022, UST started to lose its peg after a massive withdrawal from the anchor DFI platform that offered high production. Due to this panic and selling pressure, M was triggered…$BTC #JobsBoomVsFed #LTCETF #BinanceAlphaAlert #BTCBackto100K #MicroStrategyAcquiresBTC