‘The Guilt Is Unbearable’: UST-Luna Investors Discuss the 99.99% Crypto Crash
https://www.vice.com/en_us/article/4awjd9/the-guilt-is-unbearable-ust-luna-investors-discuss-the-9999-crypto-crash
The cryptocurrency market is in the middle of a widespread crash, causing investors serious financial pain with no clear way out.
The most dramatic fall yet has been the collapse of the $30 billion Terra ecosystem: its token Luna, its algorithmic stablecoin TerraUSD (UST)—which is supposed to remain pegged 1:1 to the dollar—and associated lending protocol Anchor. The implosion has caused an unimaginable amount of pain for would-be investors as well as exacerbated an ongoing sell-off across crypto markets more generally. UST is currently trading at $0.15, and Luna has fallen from over $100 in April to $0.0001 today effectively “going to zero,” in crypto-speak. Luna’s most dramatic fall has happened in the last week, with the token falling 99.99 percent from its $80 price a week ago. The price of Anchor’s token also fell dramatically, from $2 to $0.09.