Major Crypto Lost 99 % In 24 Hours

The price of the Terra (LUNA) cryptocurrency has collapsed by almost 99%, wiping away crypto speculators' riches. Terra, one of the top ten most valued cryptocurrencies, fell to 0.20 on Thursday after reaching a high of almost $120 last month.

The brunt of the losses occurred overnight, with a price drop of 98 % in only 24 hours. Its market worth dropped from almost $40 billion to roughly $500 million as a result of the rapid collapse, resulting in historic losses for investors in a significant cryptocurrency.

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