The rise and fall of LUNA, in five dates 📉
Mar 2021: Terra launches Anchor Protocol, paying 19-20% a year on UST deposits. That yield became the main reason to hold UST. Per the SEC, nearly 74% of all UST ended up parked there.
Apr 2022: LUNA is a top-10 coin and UST is worth over $17B. Together they topped $50B at the peak.
May 2022: Big holders dump UST, the peg breaks, and the mint-and-burn design floods the market with new LUNA. Both fall to nearly zero within days. More than $40B in value, gone.
Dec 31, 2024: Do Kwon is extradited to the US. He pleads guilty in Aug 2025.
Dec 11, 2025: Sentenced to 15 years for what the judge called an "epic fraud."
The lesson: when a "stable" coin pays 20% and nobody can say where the yield comes from, the yield is the risk. Ask "who is paying me?" before "how much?"
$LUNA $LUNC #CryptoHistory #Terra #Stablecoins #CryptoLessons
Not financial advice.
Mar 2021: Terra launches Anchor Protocol, paying 19-20% a year on UST deposits. That yield became the main reason to hold UST. Per the SEC, nearly 74% of all UST ended up parked there.
Apr 2022: LUNA is a top-10 coin and UST is worth over $17B. Together they topped $50B at the peak.
May 2022: Big holders dump UST, the peg breaks, and the mint-and-burn design floods the market with new LUNA. Both fall to nearly zero within days. More than $40B in value, gone.
Dec 31, 2024: Do Kwon is extradited to the US. He pleads guilty in Aug 2025.
Dec 11, 2025: Sentenced to 15 years for what the judge called an "epic fraud."
The lesson: when a "stable" coin pays 20% and nobody can say where the yield comes from, the yield is the risk. Ask "who is paying me?" before "how much?"
$LUNA $LUNC #CryptoHistory #Terra #Stablecoins #CryptoLessons
Not financial advice.
