 | In January 2019, Luna was sold as an initial coin to investors for $0.18 per token during a seed round and $0.80 per token during a private sale. In april 2019, the white paper was launched. Meteoric rise Since then, Luna saw a meteoric rise all the way to an all time high of $119.20 in April 2022. Luna was one of the few coins that set a new all time high during the bear market of 2022. It achieved a market cap of over $40 billion, in large part thanks to big investors that backed Luna. Altogether, the ecosystem surrounding terra (Luna, UST, and several cryptocurrencies including Avax and Bitcoin) had a value of over $60 billion. Meteoric fall Just one month after the all time high, however, it all went sour. It started with UST depegging issues. On May 12 the Luna price fell 96% in a day, pushing it to less than 10 cents. The Terra blockchain was officially halted on that day at block height 7603700, because Luna fell so bad that it threatened the network's security. The Terra blockchain was resumed yet halted again later at block 7607789. On May 13, several exchanges including Okx and Binance ended trading of Luna. Luna crashed to essentially $0. Since May 25, the old Terra blockchain remains functional, as its token was renamed to luna classic (LUNC). Luna today Since May 25 2022, the old Terra blockchain remains functional, as its token was renamed to luna classic (LUNC). Today, LUNC still has a market cap of over $500 million for some reason. It is currently ranked as the #78 biggest cryptocurrency. Since May 28, Terra 2.0 launched. This one has a market cap of just over $250 million at the time of writing and is the #121 biggest crypto in terms of market cap. Some high (or well low) lights to remember: Do Kwon trying to show confidence and "deplying more capital". He used more than 80k Bitcoins trying to save his projects but that was not enough. Do Kwon always bragged about "his size". Now his size is tiny. Do Kwon threatened DAI, another stablecoin, only to lose his own. Do Kwon used to mock people without money. Then he lost it all. [link] [comments] |
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