Obituary: The Week Terra (LUNA) Officially Died

May has been a rather dismal month for stocks, bonds, cryptocurrencies, and just about every asset class outside of a few commodities. However, for Terra (CRYPTO: LUNA) and its algorithmic stablecoin, TerraUSD (CRYPTO: UST), it's been cataclysmic.

Many may suggest that Terra's LUNA and UST tokens were already on life support last week, when LUNA was trading below $0.01 and UST dropped below $0.20 (relative to its $1 peg). However, with LUNA now trading at around one one-hundreth of one penny, and UST now around $0.07, it's probably safe to declare this project dead.

Image source: Getty Images.

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Source Fool.com