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What happened to Luna crypto?

There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value. The crypto community still hasn’t recovered.

Is Terra's Luna dead?

Many may suggest that Terra's LUNA and UST tokens were already on life support last week, when LUNA was trading below $0.01 and UST dropped below $0.20 (relative to its $1 peg). However, with LUNA now trading at around one one-hundreth of one penny, and UST now around $0.07, it's probably safe to declare this project dead.

What happened to cryptocurrencies in May?

The sudden collapse of two popular digital coins in early May shocked investors and wiped $400bn (£318bn) from the value of many other cryptocurrencies, including the biggest, Bitcoin. All over the world, people who lost their life savings are now appealing for help.

What happened to do Kwon's Luna coin?

Do Kwon shared a recovery plan for Luna, and things looked promising for a brief period of time in May after the original crash. But the coin ultimately plummeted. It was promptly abandoned. Terra ended up launching a new coin, Luna 2.0. On September 15, it was announced that a court in South Korea had issued an arrest warrant for Do Kwon.

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