Cryptocurrency LUNA lost nearly 100% of its value, many people lost their hands overnight

In the middle of this week, the value of the LUNA coin fell below 1 USD before falling to 0.00008875 USD at the present time.

The value of the LUNA coin seemed to plummet, dropping 99% within 24 hours, causing many LUNA investors to fall into “empty hands” overnight. This severe crash caused the market capitalization of LUNA coin to drop from over $40 billion to just $500 million, resulting in unprecedented losses for crypto investors.

“I lost all my life savings. I bought Luna at $85, but now I have nothing left,” said one social media user. Reddit Share your current situation.

“I should have sold it when it was at $100, it made me at least $25,000,” said one social media user. Reddit other comments. “However, I was hoping that the value of this cryptocurrency would continue to increase, at least that would give me more money to buy my family a house. But now, the house does not exist and Savings are also gone.

Many other users on social networks Reddit also shared the same fate with the two members mentioned above, when they were too trusting in the LUNA coin and invested all their savings, only to now fall into the “empty hand” situation when this coin is almost empty. lose value.

“I have lost over $450,000. Now I can’t pay my bank loan. I will lose my house soon. I will be homeless soon,” one user said. Reddit Others shared about their situation after trusting and investing in LUNA.

The sharp drop in LUNA coin’s value has caused Binance, the world’s largest cryptocurrency exchange, to stop supporting trading this coin, meaning that even if you hold LUNA and want to sell it, you can’t sell it. on Binance. However, this decision was met with much criticism, forcing the exchange to support the return of LUNA coin trading.

The severe drop in LUNA coin’s value reflects the general state of the cryptocurrency market in recent days, when the value of most cryptocurrencies has plummeted, in which Bitcoin has dropped by more than 50%. value, from a peak of $69,000 last November to just over $26,000 on Thursday, before recovering to more than $29,000 today.

May 12 is considered the “darkest day in the history of electronic money”, when a series of large and small cryptocurrencies such as Bitcoin, Ether … simultaneously dropped in price. According to statistics, on May 12 alone, more than 200 billion USD has “evaporated” from the cryptocurrency market when a series of investors sold off rapidly.