It has been an extremely dark week in crypto’s history, as the industry’s total market capitalization dropped to $1.2 billion for the first-time since July 2021. This turmoil is largely due to the Disintegration in real time Cosmos-based protocol for generating a number of algorithmic stablecoins.

Terra, approximately a week before the earthquake (LUNA() was ranked as one of the top 10 most valued cryptocurrencies on the market. TradeAt a cost of $85. The asset’s price had fallen to $15 by May 11th. Within 48 hours the price of the token dropped to $15.