UK YouTuber KSI’s $2.8 Million LUNA Investment is Virtually Worthless
Popular British YouTuber and rapper JJ Olatunji, commonly known as KSI, recently revealed that he has lost over $2.8 million in LUNA following the cryptocurrency’s freefall over the past few days.However, less than 48 hours later, the rapper tweeted that he had lost nearly all his investment. The total value of his LUNA position had tumbled to a little over $1,000 within two days.
LUNA, the native token of the Terra ecosystem, was designed to help maintain the $1 peg of Terra’s algorithmic stablecoin, UST. But when the stablecoin depegged on May 9 and slipped below 40 cents, the effect was catastrophic for LUNA. The cryptocurrency all of its value, crashing from $62 on May 9 to essentially zero at the time of writing.
Source
@CryptoWorldAnalysis
