MohammedVip
--
Why did LUNC drop from $120 to $0.00008 in one day 😮💨
Let me explain this in more detail:
What happened to LUNC?
LUNC, or Terra Luna Classic, is a cryptocurrency that was part of the Terra ecosystem. On May 7, 2022, the price of LUNC dropped dramatically from around $119 to $0.00001 in just one day.
Why did LUNC fall?
There were several factors that contributed to the collapse:
1. TerraUSD (UST) Depegging: UST is an algorithmic stablecoin pegged to LUNC. When UST lost its peg to the USD, it caused a massive sell-off of both UST and LUNC.
What happened to LUNC?
LUNC, or Terra Luna Classic, is a cryptocurrency that was part of the Terra ecosystem. On May 7, 2022, the price of LUNC dropped dramatically from around $119 to $0.00001 in just one day.
Why did LUNC fall?
There were several factors that contributed to the collapse:
1. TerraUSD (UST) Depegging: UST is an algorithmic stablecoin pegged to LUNC. When UST lost its peg to the USD, it caused a massive sell-off of both UST and LUNC.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
0