Once worth $60 Billion. Let’s wrap our brains around this… at it’s high, it’s value was more than all of Amazon’s annual revenue for last year. The Terra blockchain, which was the tech behind the Luna cryptocurrency and TerraUSD stablecoin which was tied in value to the dollar, crumbled into nothingness. This is just part of the current crypto collapse. If it were a company, it would have ranked as the death of the 250th largest company in the world. It’s gone due to panic and people exiting quickly. I think we’ll see a few more stumble or even fail in the coming months. But I don’t play in this market at all… for lack of sufficient knowledge.
The crypto world has been riveted by the rapid collapse of the TerraUSD stablecoin. But its implosion may bring about something just as noteworthy: the death of a major blockchain.