Are you here when Luna crashed?

[Suleiman the Magnificent]

Luna's crash was a period of complete chaos in the market. Almost no coins had any credibility left. People were terrified, but the cryptocurrency market managed to weather this potentially deadly period.

[Dunamisx]

Can someone tell me if something happened to stable coins when Luna crashed some years back?

During during the Luna incidents some years back, it cost a lot of investors who had invested in it and many way able to convert their assets to stable coin because of the so the decline that has been sustained for a longer behavior to maintain everything completely crushed down for Luna, those that were able to quickly observe this made their decision faster and receive to an extent from the massive lost than those routine it is just an illusion and keep holding until they become a complete loser.

[RewFrew]

This is a question for those who are in the market when Luna crashed.

A friend is warning me to becareful with stable coins because if anything happened they could be affected and he made mentioned of Luna days.

I tried thinking what happened 🤔 I couldn't remember anything.

Can someone tell me if something happened to stable coins when Luna crashed some years back?

My brother reminded me of the pain. My girlfriend didn't give me what LUNA hurt me. I dreamed a lot about LUNA and invested a lot even by borrowing from others and investing in this LUNA. But being deceived by LUNA in such a way will probably carry the pain for the rest of my life. But I learned a lot from it. I had a great lesson because I made another mistake. The mistake was that I invested all my capital in one place in LUNA. It really shouldn't have been done.

Your friend warned you, no one warned us, if we had been careful, we might have been saved from this danger to some extent. However, there is no end to learning, I am trying to do better in the future by using this lesson.

[Abiky]

This is a question for those who are in the market when Luna crashed.

A friend is warning me to becareful with stable coins because if anything happened they could be affected and he made mentioned of Luna days.

I tried thinking what happened 🤔 I couldn't remember anything.

Can someone tell me if something happened to stable coins when Luna crashed some years back?

When LUNA crashed, investors began to lose trust in stablecoins. Centralized exchanges began offering proof of their reserves after the downfall of FTX thereafter. It took quite some time before trust rebuilt itself. As a result of the Terra/LUNA crash, the number of algorithmic stablecoins are relatively-scarce these days. They might as well be non-existent. A good thing, because it removed uncertainty surrounding stablecoins.

Collaterized counterparts, although centralized, have a much lower risk. It's what has been dominating the market these days. The next big thing is Bitcoin-backed stablecoins. Hopefully, things don't get messed up again in the future. Or it will be another LUNA 2.0 scandal.