❓Why did $LUNC fall so hard?
$LUNC (formerly LUNA) was created by Do Kwon and was once one of the top 10 cryptocurrencies.🔥😱😱 At its peak in 2022, it traded for over $100 with a market capitalization of $40 billion.
But when its stablecoin UST lost its peg at $1, the system printed trillions of LUNA to save it — causing a price drop of nearly 100%.
The supply went from millions to trillions in just a few days, erasing investor confidence.
Today, LUNC still has a large community, but with over 6 trillion tokens in circulation, recovery remains a huge challenge#MarchFedMeeting #Binance #YZiLabsInvestsInRoboForce #SECClarifiesCryptoClassification #astermainnet
$LUNC (formerly LUNA) was created by Do Kwon and was once one of the top 10 cryptocurrencies.🔥😱😱 At its peak in 2022, it traded for over $100 with a market capitalization of $40 billion.
But when its stablecoin UST lost its peg at $1, the system printed trillions of LUNA to save it — causing a price drop of nearly 100%.
The supply went from millions to trillions in just a few days, erasing investor confidence.
Today, LUNC still has a large community, but with over 6 trillion tokens in circulation, recovery remains a huge challenge#MarchFedMeeting #Binance #YZiLabsInvestsInRoboForce #SECClarifiesCryptoClassification #astermainnet
