UPDATE – After the publication of this article, LUNA (Terra) traded again with some brokers.
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In accordance with deciphera Binanceglobal cryptocurrency exchange, suspended negotiations on Earth (LUNA) and gives TerraUSD stablecoin (UST). Last Friday, May 13, it was reported that this would happen if the value MOON fall below $0.005. In the last few days it has become $0.00000947, despite some recent fluctuations. Saturday (14)had high over 1300% in the morning, reaching the value $0.0004114 is still very low. According to experts, cryptocurrency melted by 98.99% in a very short time.

In autumn, bitcoin declines in a week and registers the lowest value since July 2021.
The world’s largest cryptocurrency is now worth less than half of its all-time high; Ethereum also fell

OUR blockchain earth, last Thursday (12) halted new block production to prevent governance attacks and reduce the catastrophic impact on the native token. All these instabilities affected other crypto assets as well. The largest stablecoin presently, Tether (USDT)came to your lowest historical level since 2020valid $0.9455 but stabilized and resumed trading around 1 dollar.

The problem started when the prospect of higher interest ratesfrom the side Federal Reserve, affected the world’s best crypto assets. This event alone had a profound effect on bitcoin several weeks ago. In its turn, Earth is part of the ballast UST. With the fall MOONa UST began to devalue significantly and quickly lost parity with the dollar, one of the world’s major currencies.

(Illustration / loans: pixabay.com

release MOON directly related to UST. With the crash of the stablecoin, Earth’s supply increaseddevaluing further the value of the cryptocurrency. In this scenario, ups and downs in investment are expected; however, such massive falls are devastating to all involved. Despite attempts to reduce the damage, some remain partial optimistic.

Ricardo Assaf, CEO gives Unlock capitaladds:

“This event is the most important for the crypto market since Covid-19, it exposes a number of shortcomings in the formation of algorithmic stablecoins and will provoke a debate about tighter regulation of this class of cryptocurrencies (…) LUNA will survive on a much smaller scale, over time it will have to reorganize. But it has the technical design and quality of very good developers.”

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Via: (1) seudinheiro.com, (2) seudinheiro.com Source: portaldobitcoin.uol.com.br, theverge.com