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GIM Hall Of Fame
- Oct 15, 2012
- Reaction score
The price of the Terra (LUNA) cryptocurrency has fallen by more than 99 per cent, wiping out the fortunes of crypto investors.
Terra, which ranked among the top 10 most valuable cryptocurrencies, dropped below $1 on Wednesday, having peaked close to $120 last month.
The majority of the losses were realised overnight, with a 98 per cent price fall in the space of just 24 hours.
The dramatic crash meant its market cap dropped from above $40 billion to just $500 million, resulting in unprecedented losses for investors in a leading cryptocurrency.