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Why Terra Luna Crashed 99% Of Its Value
Shocking time in crypto
The cryptocurrency Terra Luna has plunged badly, losing 99% of its worth. Terra luna crash has shocked the entire crypto market.
The value of the Luna coin declined this Wednesday, it dived down from $6 to 1$.
It shockingly fell around $0.02 on a Thursday afternoon.
Here is why did terra luna crash and what you need to know to be in the market.
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Why did luna crash?
The reason is simple, Luna crashed because of its link with Terra USDT — the US dollar was anchored to the stable coin.
When UST detached from the dollar earlier this week, the price went down to the bottom pit. This news has made a huge instability in the crypto world.
The market capitalization of Luna nosedived from $ 40 billion to $200 million.
The Luna has wiped out the fortunes of crypto investors.
The coin started a general chain reaction and affected other giant coins, losing 30% of their value.
Bitcoin, the world's best cryptocurrency fell 7% to $28,600, and Ethereum dropped 11% to $2065.
