Report post

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.

How much is a Luna coin worth?

A Luna coin was going for around $116 in April and ended up dropping to a fraction of a penny before being delisted. Before that, the coin went from being worth less than $1 in early 2021 to creating many crypto millionaires within a year. This led to Kwon’s cult hero status among (some) retail crypto investors.

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.

What happened to Terra Luna & Ust?

Terra LUNA and UST: What happened? Both UST and LUNA exist on the Terra blockchain and are overseen by the non-profit Luna Foundation Guard (LFG), which stockpiled roughly $3.5 billion in bitcoin and other cryptocurrency in the months leading up to the crisis in order to mitigate against such an outcome.

Related articles

The World's Leading Crypto Trading Platform

Get my welcome gifts