Terra LUNA Circulating Supply Increases by Nearly 1.9 Million Percent

The circulating quantity of Terra’s LUNA has increased by almost 1.9 million percent in the last seven days as the consequence of the Terra USD (UST) losing its peg to the dollar continues to take its toll. According to data released by crypto expert Ali Martinez, the circulating quantity of LUNA was around 342 million seven days ago. The total number of LUNA in circulation has increased by 6.18 billion, bringing the total to 6,531,899,614,602 LUNA. The LUNA token has nearly vanished in the previous week, while the UST stablecoin has lost its peg, trading at $0.08. In the last seven days, the LUNA token has lost 100% of its value. The #Terra team increased $LUNA circulating supply by 1,908,651.08% in a matter of days, from 342,167,457.21 to 6,531,125,222,828.44 #LUNA. … And you’re telling me you’re throwing some money at it because prices have a good chance of recovering???? Bruh 🤦‍♂️ pic.twitter.com/Plq3bugPG7 — Ali Martinez (@ali_charts) May 15, 2022 To “restart” Terra, do Kwon In a post on a Terra-related forum over the weekend, Do Kwon, the founder of Terraform Labs, presented a “Terra Ecosystem Revival Plan,” which amounts to a restart of the whole Terra blockchain, with network ownership handed wholly to UST and LUNA holders via 1 billion new tokens. The Terra environment had crumbled entirely, according to the CEO. 40% of the new tokens will be issued to LUNA holders who had tokens before the de-pegging event, with the...