It is known that the cryptocurrency market is increasingly volatile over time, if we analyze the situation relative to about three months ago. However, there is a gigantic list that companies can present, factors that may have caused this blockchain collapse. In view of this, the biggest of them, without a doubt, occurred on the Terra blockchain, whose cryptocurrency LUNA sank from $ 87 to zero in the space of 24 hours.
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However, there is one name in particular that made the list: Do Kwon, a 30-year-old South Korean who founded the Terraform Labs project in January 2018. The reality is that since the beginning of its creation, Terra Luna and the UST algorithmic stablecoin, over the course of its trajectory, Kwo has shown itself to be virtually unshakable when it comes to critics and in defense of what it sold, saying it was a revolution in the financial system decentralized. However, everything went downhill from there.
Last month alone, Luna reached a value of 41 billion dollars and, last Sunday, it was costing around 1.4 billion dollars, according to the CoinGecko portal. In this sense, the value of the token ended up gaining a decimal, practically, with each passing day. However, nowadays, according to the latest data, Luna is costing around 0.002 dollars.
In this way, completely devalued, the crypto asset has been flooding several cryptocurrency trading platforms, with the purpose of looking for non-existent buyers: there are more than 6 trillion tokens flooding the platforms of negotiation.
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