Terra luna hit $0.0002369 today from its mid-April value of $80.1; one week ago, it was $65.12!
Its market valuation has collapsed from almost $40 billion to barely $500 million within 24 hours, bleeds more than 99%.
UST, Terra's algorithmic stablecoin, and LUNA, Terra's native governance token, have destroyed more than $50 billion.
The coin's fall occurs amid a broader cryptocurrency downturn, with many coins losing their value in the last week.
Indian Crypto exchanges suspended Terra(LUNA) after a nearby 100% crash shook the market.
Reuters confirmed that US Fed Reserve warned in its biannual Financial Stability Report that stablecoins are vulnerable to investors.
The CEO of Binance speaks out, claiming Terra (LUNA) could have handled the collapse differently.
Terra declared on Twitter, "A post-mortem on everything that transpired the past week is in progress. It will be published asap ".
After the huge setback, Terra blockchain assured to resume block production.
Terra has declared recovery plans to stake 240 million $LUNA and burn $1.4 billion $UST.