Terra’s LUNA Crashes Down to 96% from the Past 24 Hours

LUNA, the cryptocurrency native to Terra blockchain platform, has crashed further down to 96 percent in the last 24 hours. The token is currently trading at $0.19 according to data from CoinGecko. Terra’s LUNA Continues Crashing LUNA price has fallen by over 99.8 percent in the last 7 days to $0.19 In the last 24 hours itself, LUNA has fallen by over 96 percent, at the time of writing. The cryptocurrency’s ranking has also alarmingly dropped to 89th in terms of market capitalization. The fall in Terra’s price and ranking to such lows is shocking because it used to be one of the constants in the list of top 10 cryptocurrencies till a few days back. LUNA’s debacle occurred when Terra’s algorithmic-based Stablecoins TerraUSD, which pegged against the dollar, started falling. UST has recently ‘de-pegged’ to $0.45 from its value of $1 which marks a drop of about 55 percent. Since both UST and LUNA are interlinked, the massive drop in UST value resulted in LUNA’s overall drop.The post Terra’s LUNA Crashes Down to 96% from the Past 24 Hours appeared first on Cryptoknowmics-Crypto News and Media Platform.