Terra Erases 12 Months Bullish Gains with 94% Drop in Value

The Terra community is almost in disarray as the ecosystem’s two flagship tokens, including LUNA and UST are on a freefall amid the most bearish sentiment the blockchain protocol has ever seen.

While the algorithmic UST stablecoin has completely lost its peg against the US Dollar, trading at $0.7158 at the time of writing, the stablecoin dropped as low as $0.2998 during the intra-day trading.
LUNA on the hand has shed off all of the gains it has accrued over the past 12 months as it slumped to its 52-weeks low of $0.8384. The fall of the LUNA comes off as a bigger …

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