Cryptocurrency Q&A
What is the problem with Terra Luna?
What is the problem with Terra Luna?
Bianca
Mon Nov 04 2024
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5 answers
1528
I've been hearing a lot about Terra Luna recently and there seems to be some sort of issue or problem with it. I'm not quite sure what's going on, but I'd like to understand the nature of the problem with Terra Luna.
5 answers
Valentina
Wed Nov 06 2024
Terra, which held the position of the third largest cryptocurrency ecosystem, fell apart dramatically in May 2021.
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PulseWind
Wed Nov 06 2024
Anchor had promised high yields to its stablecoin (UST) depositors, which ultimately led to a run on the protocol.
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CharmedSun
Wed Nov 06 2024
This collapse occurred over the course of just three days, leading to a significant loss in valuation.
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CryptoEmpire
Wed Nov 06 2024
The total valuation wiped out during this period amounted to a staggering $50 billion.
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Lorenzo
Wed Nov 06 2024
The primary cause of Terra's collapse centered around a blockchain-based borrowing and lending protocol known as Anchor.
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