![]() ![]() What is a stablecoin?Ī stablecoin is a cryptocurrency designed to be pegged to another asset, like the US dollar or the euro. But what actually happened? How will this affect the rest of the crypto ecosystem? What the hell is Terra, and why does it have a sister currency called Luna? Here’s what you should know. The crypto market’s nosedive over the past few days illustrates the high stakes that can accompany a nascent financial system, which has largely been left unregulated. “Do not be alone, this shit is getting serious,” the person wrote. ![]() ![]() One person said their friend attempted suicide over the crash. Others have been devastated Reddit on Thursday began offering support and resources to crypto holders discussing suicide in its forums. Once aggressively bullish crypto investors are panicking. Some have compared the crash to the 2008 financial collapse. In the last week alone, bitcoin dropped about 25% it's dropped more than 50% in the last six months. The crash has rattled the broader crypto market, and other tokens including bitcoin and tether have also struggled. Over the last few days, the cryptocurrency world has faced an intense shakeup due to the precipitous drops of a stablecoin called TerraUSD and its sister currency Terra Luna. ![]()
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