Terra Luna: End of an Ecosystem?
Terra Luna has been one of the fastest growing blockchain ecosystems in recent months. Not only the number of projects in the ecosystem grew rapidly, but also the market capitalization and importance of the protocol’s own stablecoin TerraUSD (UST). However, last week there was a crash. Algorithmic stablecoin UST lost its peg to the US dollar. LUNA’s market cap has also imploded. Partial trading of Terra on leading stock exchanges has been suspended. Stefan Lübeck and Jan Heinrich Meyer discuss the reasons for the collapse in the current episode of the BTC-ECHO Invest Podcast.
Is Maker DAO the winner of the Terra Crash?
But it wasn’t just Terra that went down. The entire crypto market has lost its feathers. Only Maker (MKR) and Chain (XCN) were able to record positive price developments. Whether the success of Maker or the stablecoin DAI is related to the collapse at Terra is also a topic in the podcast. In addition, Stefan and Jan talk about the connection between Amazon’s quarterly figures and the rest of the crypto market.