Its market cap last week was 18 billion, and it'll probably reach 0 in a day or two

Its complementary coin, TerraLuna, which can usually be exchanged for Terra, is down 97%

:brrrrrrrrrrrr: :stonks-down:

  • Foolio [any]
    ·
    3 years ago

    Eh, Terra involved a lot more "normal" people than you think. This isn't straight PvP like a normal rug pull, or something like Bored Apes where it costs 100 grand to enter so only rich assholes are involved. The "Anchor" protocol on Terra sucked a lot of people in with promises of 10-20% "stable" returns. That's very different from something like the Wonderland/Time ponzi, where it was run literally on "magic internet money" and for "frog nation", i.e. people in on the joke. This UST/Luna shit will sink a lot of ordinary people, and probably some hedge funds too which could cause contagion.

      • Foolio [any]
        ·
        3 years ago

        I'm too internet poisoned (been following/laughing at this shit for like a decade, it keeps on giving), but point is there's a lot of people who thought they were getting a savings account, not just crypto bros.