Terra (LUNA) is a cryptocurrency launched in 2022. Terra has a current supply of 1,186,707,049 with 709,984,438.91686 in circulation. The last known price of Terra is 0.20899078 USD and is down -28.14 over the last 24 hours. It is currently trading on 194 active market(s) with $79,246,153.33 traded over the last 24 hours. More information can be found at https://terra.money/.
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The crypto market just witnessed one of its worst crashes ever, with over $2.24 billion wiped out in liquidations within a single day, even surpassing LUNA and FTX collapses. Bitcoin plunged to $94,000, dragging the entire market into chaos, and leaving leveraged traders in ruins.
Sunny Aggarwal, Co-Founder of Osmosis, believes THORChain's liquidity issues mirror the 2022 Terra Luna collapse. THORChain, a decentralized cross-chain liquidity protocol, has paused its network operations due to a significant debt crisis amounting to nearly $200 million.
Once again, rounds of insolvencies have entered the crypto space, with Thorchain being the most recent. The network has paused THORFI services, probably due to its financial uncertainty, which has circulated shock waves across the markets. The functions like swaps remain active while the lending operations are on hold.