$LUNA , a top 10 cryptocurrency, collapsed in May 2022 after its algorithmic stablecoin UST lost its dollar peg, causing hyperinflation and a drastic price drop from $119 to near zero, wiping out over $45 billion. In response, the community launched Terra Luna Classic (LUNC) and began burning tokens to restore value, showcasing both the risks of algorithmic stablecoins and the community's resilience.

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