The cryptocurrency Terra (LUNA) which is supposed to be one of the most stable due to its close link to the US currency lost everything in one day.
• Read also: Wall Street concludes a volatile session in scattered order
• Read also: Inflation slows down a bit in the United States, but remains very high
• Read also: Wall Street down once more
In 24 hours, this cryptocurrency lost 98% of its value, dropping from 1.11 US dollars to around $0.01.
The reason for this descent into hell for this currency is that it lost its peg to the US dollar a few days ago.
Result, one of its founders tried a risky maneuver on the creation of the stock market action which turned sour.
Terra was one of the most famous online currencies, like bitcoin.
It was also in the top 3 cryptocurrencies that were trading with the most value before Wednesday.
By 5 p.m. on May 12, she had dropped to 63rd position.
