Investors have been curious about Terra’s rise in popularity and people wonder about the background of Terra’s co-founder Do Kwon. UST LUNA Terra
Terra blockchain’s native token fell significantly in value as well, as the network’s LUNA/UST swapping mechanism drove the coin toward a death spiral. Terra’s entire ecosystem wasthe top crypto projects list, and now it is placed at the bottom of the barrel, among a litany of failed digital currencies.
However, for quite some time Terra was considered one of the hottest blockchain projects out there, and LUNA reached an all-time high at $119.18 per unit on April 5, 2022. Today is a different story, as a single LUNA is now exchanging hands for $0.00018000 per unit. While many disliked Terra’s co-founderThe two co-founders of Terraform Labs. Daniel Shin and Do Kwon ., he allegedly worked for Apple and Microsoft. At Stanford Kwon graduated with a degree in computer science.
Then, in February 2021, LUNA started to gain significant market traction and eventually climbed 23,700% to the crypto asset’s all-time price high. Additionally, from October 2020 all the way until May 9, 2022, Terra’s stablecoin terrausd held its $1 parity with the U.S. dollar. Before both of these tokens and the many other crypto assets built on top of Terra, the project
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