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What happened? Terra debacle exposes flaws plaguing the crypto industry

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cointelegraph.com

The past week has been a dark period in the history of crypto, with the total market capitalization of this industry dipping as low as $1.2 trillion for the first time since July 2021.

The turmoil, in large part, has been due to the real-time disintegration of Terra, a Cosmos-based protocol that powers a suite of algorithmic stablecoins.Approximately a week ago, Terra (LUNA) ranked among the 10 most valuable cryptocurrencies in the market, with a single token trading at a price point of $85.

Read more on cointelegraph.com
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