UST, TERRA and LUNA — One for the Crypto History Books.

The price for LUNA fell a mind-blowing 97.7% on the 11th of May 2022 following an arbitrage exploit for UST — an algorithmic stablecoin provided by LUNA, which de-pegged from its usual $1 price. UST reached a low of $0.2 before climbing back up to $0.61.

The drop led the LUNA team to sell $1.5 billion of their Bitcoin reserves, flooding the market with Bitcoin and…

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