Terraform Labs on its official Twitter account. in the statement announced that they stopped the network as a precaution against possible attacks.
Terra’s official statement LUNADue to the significant decrease in the price of the . It has been discontinued by the developers.
Terra’s fixed at $1 UST, the stable crypto currency needed for $0.30 After the fall, the foundation increased its LUNA editions to raise the price back to $1. On top of that, the LUNA price has increased in the past months. from $120 currently trading from $0.012 is being traded. The decrease in its price and the increase in its supply caused the coin to become an open target against attacks.
These fluctuations and mobility in stable cryptocurrencies affected the entire crypto money market. Terra’s launch of over 30 billion LUNAs in one day during the rescue efforts of the UST caused a crisis in the entire market. On Thursday, May 12, the crisis created by the UST USDT down 5%, BUSD followed by rising above $1. Afterwards The peg has been rebalanced.
Circulating supply of LUNA according to Coinecko data to 32.39 billion reached. If the total supply is 40.7 billion recorded as a number.