Down to Zero: Terra Luna Crash and Its Impact on Crypto Adoption By DailyCoin
— Investors, Dailycoin, Zero, Cryptocurrency, Value, Crash, Kwon, Crypto, Lunas, Luna, Stablecoin, Terrausd, Impact, Adoption, Terra — 1 min read
Stablecoins provide some of the stability that is lacking in most cryptocurrencies, making them unusable as actual currency. Terra Luna came to prominence in December 2021, when the value of each coin started rising, from $5 to a high of $116 in April this year. TerraUSD is an algorithmic stablecoin that tries to maintain the same value as the US dollar by using a complex seesawing mechanism with a related cryptocurrency, which is called Terra Luna. Luna's total value shot up to more than $40 billion, creating a frenzy of excitement that swept up traders and start-up founders. Source