When did Luna crash?

The Terra-LUNA crash in May 2022 marked a significant event in the cryptocurrency world. The incident was sparked by the depegging of the ecosystem's stablecoin, UST. This stablecoin was meant to maintain a stable value relative to a fiat currency, but it lost its peg, leading to a chain of negative consequences.

The depegging of UST triggered a widespread sell-off of Terra-LUNA tokens. Investors lost confidence in the ecosystem, causing the value of LUNA to plummet. This sharp decline in value was unprecedented in the blockchain industry and led to significant losses for many investors.

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The collapse of Terra-LUNA had a Ripple effect on the entire cryptocurrency market. Many other cryptocurrencies also experienced a drop in value as investors sought to liquidate their holdings to mitigate losses. The market capitalization of the entire cryptocurrency industry suffered a notable decline.