5 Cryptocurrencies Getting Crushed By The Current Market Crisis

How exactly did the TerraUSD retain its $1 value? It did so by linking itself to sister cryptocurrency Luna. Every time the value of TerraUSD would move above or below $1, an algorithm would burn a certain amount of Luna, or TerraUSD, and adjust its supply to maintain the $1 price. Luna reached its all time peak of $116 on April 4, where its market cap stood at more than $41 billion. It suffered a painful crash in the days between May 4 and 12, falling from a price of $86 to $0.0041. It now stands at $0.00005682 as of June 23, and has been renamed Terra Classic.