Why LUNA Crypto Price Fallen? Terra Luna Crypto Crash | LUNA Crypto Future

The reason behind the LUNA Crypto and UST Fall. Full Information

Why LUNA Crypto Price Fallen: Terra (LUNA) holders are 96 percent poorer than they were 7 days ago! LUNA’s price has dropped 96 percent to $ 3.36 in the last 7 days. According to data on CoinMarketCap at press time, within the last 24 hours, LUNA has fallen nearly 90 percent.

Terra’s ranking fell to 37th in terms of market capitalization. The fall in Terra prices and the ranking for such lows is even more shocking because it has been consistently on the top 10 cryptos list on CoinMarketCap for a few days. Why LUNA Crypto Price Fallen?

Another popular crypto from Terra Fold, TerraUSD (UST) has called 49 percent in the last 7 days, of which a 44% decline has been recorded in the last 24 hours. The UST ranking is down to 15, just below the meme coin Shiba Inu. LUNA has lost nearly 94 percent of its market share in the last 7 days, down 82 percent in the last 24 hours.

Why LUNA Crypto Price Fallen

Why LUNA and UST crashed?

The defeat began when Terra’s algorithmic-based Stablecoins began to fall against the TerraUSD dollar. Crypto Exchange Binance temporarily halted UST and LUNA withdrawals, which would have a cascading effect on the prices of both crypto’s.

The current defeat highlighted the problems of algorithmic-based fixed coins.

Anshul Dhir, COO, and co-founder of Easyfi Network, told FE Online, “The fall of Terra could have resulted in the large sale of LUNA tokens due to the reported” D-peg “of the algorithmic stable coin. This sale should have escalated as the market was already in bear mode, ”he said.

What is the future of Luna, UST?

According to current reports, the team that manages UST and LUNA must be prepared to defend the stability of the $ UST peg under these macro market conditions. The team also mentioned some recovery plans.

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