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Why did Terra LUNA and UST crash?

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Why did Terra LUNA crash and UST fall?Learn more on The Market Report | Find out on The Market Report

Cryptocurrency investors never thought they’d have to ask whether TerraUSD (UST) or LUNAThe first $1 would occur. That question became the topic of discussion in the cryptosphere on Wednesday as the ecosystem crashed.

The algorithmic stablecoin UST fell to a low point of $0.30 after it lost its dollar peg. Do Kwon, co-founder of Terraform Labs isTo share his rescue plan, he took to Twitter (NYSE :). CoinMarketCap reported that LUNA’s sister token, which was once a Top-10 Crypto Project by Market Capitalization, fell to $0.84. For comparison, LUNA traded north at $120 as early April.