BIGGEST CRASH IN THE HISTORY OF CRYPTOCURRENCY
$LUNA lost 99% of its value in just one day
Millions of degens, huge companies lost over $60 billion in total...
Here is full history of LUNA CRASHING 🧵👇 

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After the AI and Art MEME brought a huge heat, the Solana MEME market yesterday welcomed a rare rest day. Almost the entire day passed without any new "large MC memecoin" appearing, and the previously frenetic art concepts also mostly halved.

Although the sentiment may have subsided, the market never sleeps. Last night, a certain chain player (the editor) was just about to get off work and go to bed when the monitoring Bot suddenly sounded the alarm, and a multi-million dollar MEME appeared in the middle of the night, this time with the official Vatican Gigi...

LUCE has increased a thousand times overnight. Is the real "religious meme" coming? | Today's Meme Angle Appreciation

After a 3-month hiatus, Bitcoin has once again broken through the $70,000 mark. After a period of meme coins dominating the market, the meme market has cooled down, but the enthusiasm remains, and some tokens have shown signs of a resurgence after adjustments.

So, what are some meme coin targets worth paying attention to?

<Ethereum chain>
$Kekec
Current market cap: $28 million
Highest market cap: Around $35 million
CA:0x8c7ac134ed985367eadc6f727d79e8295e11435c
<The Balkan ...>

Bitcoin breaks through $70,000, these meme coins may be ready to go丨Meme Wars

"According to the criteria of high yield and high trading frequency, I selected 8 top-ranked on-chain addresses from the 7-day yield ranking list on the gmgn platform. I then fed their transaction data to an AI Agent I created to analyze the trading patterns of each address."

Author: NingNing

Once you enter the <meme> coin world, it's like the deep sea. After 48 hours of on-chain <PVP>, your consciousness gradually becomes blurred, as if you've fallen from the phenomenal world that follows the logic of cause and effect into the realm of the subconscious dominated by uncertainty. Rationality is repeatedly crushed by the market, and the self becomes weak, helpless, and bewildered...

Is everyone a "chain king"? Analysis of the trading patterns of "chain kings"

Absolutely every one of you has heard about the most high-profile event, "The collapse of $LUNA"
This event has become legendary in the history of the entire crypto industry
Here's how it happened👇

In 2016 Do Kwon, the future creator of LUNA, realized that unreliable cryptocurrency payment networks slow adoption and limit real-world value
His goal now is to create a decentralised payment system powered by stablecoin 

Daniel Shin was an experienced South Korean technology entrepreneur
Shin had significant experience in online payment systems
Do Kwon's idea caught his attention... 

In 2018, Do Kwon and Daniel Shin join forces to launch Terra
Terra became the blockchain that epitomised the idea of revolutionising payments using stablecoins
Terra's native tokens, LUNA and UST have been highly recognised in the crypto space 

TerraUSD (UST) has become a stablecoin pegged to the US dollar
UST was not secured by physical assets. Its price was supported by complex algorithms and market mechanisms
$LUNA was used to support its value 

In May 2022, the worst of it began...
More than $2 billion worth of USTs were seized and sold in the first week
In the aftermath, UST lost its peg to the dollar, causing its value to fall to $0.91
This situation has destabilised the entire crypto market 

After the sudden cancellation of the UST's peg to the dollar, a massive sell-off in LUNA has begun
Traders around the world sought to buy back their depreciated USTs
Tier-1 exchanges have removed LUNA and UST from their platforms
Terra blockchain was suspended, LUNA and UST… https://x.com/i/web/status/1849933908214755798 

Over $60 billion was lost as a result of this collapse
This has not gone away from investors and huge companies
Huge companies like Voyager, Celsius and Three Arrows Capital have been bankrupted or liquidated 

Do Kwon did not give up hope and tried to rebuild and stabilise UST
He placed billions in Bitcoin reserves, but that attempt was unsuccessful
His attempts at revitalisation and even the launch of Terra 2.0 failed to restore his reputation and investor confidence 

In his tweet, Do Kwon repeatedly made false predictions about Terra's stability
Many of you may remember the bet in which he bet $1M that the UST would remain pegged to the dollar and LUNA would not fall 

15 Sep 2022 South Korean authorities charged Do Kwon with fraud and illegal fundraising
They also found information about transferring 40,000 BTC to secret wallets 

In March 2023, Do Kwon was arrested
He was apprehended in Montenegro while attempting to flee the country illegally
He was sentenced to four months in prison for document forgery 

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