4 years ago on 12 May, 2022, crypto witnessed one of its darkest bloodbaths⊠the $LUNA apocalypse đđ„
On 12th May 2022, LUNA â once a top 10 giant worth $119 per coin â collapsed to almost ZERO in days, vaporizing over $60 BILLION đž
Its âstableâ partner $UST was supposed to stay at 1$ through an algorithmic mint-burn mechanism⊠but when massive withdrawals hit Anchor Protocol and panic selling began, the system entered a deadly death spiral đ
$USTC lost its peg. More LUNA was printed to defend it. Hyperinflation kicked in. Confidence vanished. Billions disappeared.
But hereâs where it gets darker⊠đ”ïžââïž
Many still believe coordinated whales, hedge funds, and even shadowy dark web actors exploited Terraâs weak design, launching massive short attacks while retail investors were trapped believing Do Kwonâs âsteady ladsâ tweets đ¶âđ«ïž
Some call it poor tokenomics. Others call it one of cryptoâs biggest engineered collapses.
From DeFi king to historic cautionary tale, LUNA proved one brutal truth: if the foundation is flawed, hype wonât save it. â ïž
The LUNA crash wasnât just a market event⊠it was cryptoâs Lehman Brothers moment.
Never forget: insane APY + blind trust = disaster. đ
#LUNA #LUNC #TerraformLabs #CryptoCrash #TerraLuna
On 12th May 2022, LUNA â once a top 10 giant worth $119 per coin â collapsed to almost ZERO in days, vaporizing over $60 BILLION đž
Its âstableâ partner $UST was supposed to stay at 1$ through an algorithmic mint-burn mechanism⊠but when massive withdrawals hit Anchor Protocol and panic selling began, the system entered a deadly death spiral đ
$USTC lost its peg. More LUNA was printed to defend it. Hyperinflation kicked in. Confidence vanished. Billions disappeared.
But hereâs where it gets darker⊠đ”ïžââïž
Many still believe coordinated whales, hedge funds, and even shadowy dark web actors exploited Terraâs weak design, launching massive short attacks while retail investors were trapped believing Do Kwonâs âsteady ladsâ tweets đ¶âđ«ïž
Some call it poor tokenomics. Others call it one of cryptoâs biggest engineered collapses.
From DeFi king to historic cautionary tale, LUNA proved one brutal truth: if the foundation is flawed, hype wonât save it. â ïž
The LUNA crash wasnât just a market event⊠it was cryptoâs Lehman Brothers moment.
Never forget: insane APY + blind trust = disaster. đ
#LUNA #LUNC #TerraformLabs #CryptoCrash #TerraLuna