According to CoinDesk's Emily Parker, there are indications of advancement in Do Kwon's home country despite the ongoing impact of Terra's downfall.
The simultaneous crashes of Terra's UST stablecoin and LUNA fuelled the market-wide fall in May, which investors are currently recuperating from. However, Do Kwon and his team's rehabilitation efforts have restarted LUNA following this upheaval. In addition, its counterpart Terra LUNA Classic, as well as LUNA, have soared in recent days.
An exploiter was able to drain four synthetic asset pools from the Mirror Protocol due to a bug in the pricing oracle software for Terra Classic validators.
Considered one of the most regulated, safest crypto platforms for beginners, eToro.com temporarily suspended LUNA trading at just under one cent – saving those who wanted to buy LUNA crypto tokens from two of those 99% drops. Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
The Luna crypto network collapsed in what’s considered the largest crypto crash ever, with an estimated $60 billion wipeout, shaking the global digital currency market. There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin.
Bitcoin’s market cap today is around $570 billion – the LUNA market cap would even flip Bitcoin before the LUNA price reached $0.09. No crypto has ever flipped Bitcoin. LUNA would flip Ethereum, also unlikely as so much of DeFi runs on ETH, at around four cents – $0.04. Is Luna recoverable?
At a LUNA price of $1 per coin, with a 6.5 trillion supply then the market capitalization of LUNA would be $6.5 trillion, twice the valuation of all cryptos, at that all time high. Bitcoin’s market cap today is around $570 billion – the LUNA market cap would even flip Bitcoin before the LUNA price reached $0.09. No crypto has ever flipped Bitcoin.
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