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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.Will Luna price flip Bitcoin a week after a crash?
The current LUNA price a week after the crash is $0.00018. It may be impossible unless a large part of the hyper inflated circulating supply of LUNA (now 6.5 trillion LUNA coins) is burnt – the LUNA market cap would flip Bitcoin (with its $578 billion market capitalization) before the LUNA price even reached nine cents ($0.09).Is Luna a good cryptocurrencies?
The week's slump in LUNA pushed it out of the top 10 cryptocurrencies by market capitalization to rank 81st this morning. The tokens were valued at just under $4 billion last week, while on Thursday the capitalization snapped down to $720 million. Still, some market observers remain upbeat on the longer-term outlook of algorithmic stablecoins.What happens if you buy a Luna token in May?
So for instance, in early May you could trade one luna token for 85 UST (since luna was worth $85), but the luna would be destroyed ("burned") in the process. This deflationary protocol was meant to ensure luna's long-term growth. As more people buy into UST, more luna would be burned, making the remaining luna supply more valuable.