BitKwonnect? ‘Luna Brothers’ moment sees Terra inflate token supply 3,500% overnight

BitKwonnect? ‘Luna Brothers’ moment sees Terra inflate token supply 3,500% overnight


Terra (LUNA), the in-house token of Blockchain protocol Terra, is undergoing major changes which are causing intrigue and despair in equal measure.

Data released on May 13 confirms that overnight, the embattled cryptocurrency’s supply expanded to an eye-watering 6.9 trillion LUNA.

6,900,000,000,000 LUNA, almost zero value

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After a tumultuous week in which Terra attempted to rescue LUNA along with its failing United States dollar stablecoin, TerraUSD (UST), things have gone from bad to worse.

Despite huge sales of BTC and loans to prop up the market, both tokens have continued to hemorrhage value.

At the time of writing, LUNA/USD traded at an almost imperceptible average of $0.00005474 at the time of writin, according to data from CoinMarketCap.

To the dismay of those hoping to long at previously already low levels,

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