Terra (LUNA) trading volume surge 200% as market adjusts to de | Crypto World Analysis

Terra (LUNA) trading volume surge 200% as market adjusts to death spiral

It took just seven days for the Terra (LUNA) ecosystem to spiral down as prices came crashing from $85 on May 5 to nearly $0 on May 12. As the market slowly gained clarity on what transpired, the trading volume of LUNA saw a steep recovery of over 200% over the weekend.

As a result of UST de-pegging, which crashed the LUNA market, LUNA investors mirrored the price dip as CoinGecko recorded the decline of trading volumes to $178.6 million on May 13 — a number that was last seen in February 2021.Terraform Labs CEO and co-founder Do Kwon sought damage control on the same day as he proposed a revival plan for Terra’s comeback, which involves compensating UST and LUNA holders for holding the tokens during the crash.

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