{"id":253,"date":"2022-10-16T22:11:43","date_gmt":"2022-10-16T22:11:43","guid":{"rendered":"http:\/\/live-script.xyz\/while-its-lost-94-in-value-since-the-collapse-terras-fractured-ecosystem-is-still-worth-2-5-billion\/"},"modified":"2022-10-16T22:11:43","modified_gmt":"2022-10-16T22:11:43","slug":"while-its-lost-94-in-value-since-the-collapse-terras-fractured-ecosystem-is-still-worth-2-5-billion","status":"publish","type":"post","link":"https:\/\/live-script.xyz\/while-its-lost-94-in-value-since-the-collapse-terras-fractured-ecosystem-is-still-worth-2-5-billion\/","title":{"rendered":"While Its Lost 94% in Value Since the Collapse, Terra\u2019s Fractured Ecosystem Is Still Worth $2.5 Billion"},"content":{"rendered":"

It\u2019s been five months since the Terra ecosystem collapsed as tens of billions of dollars in value disappeared from the crypto economy in a matter of days after May 7. Terra\u2019s new Phoenix blockchain managed to restart the ecosystem to some degree and since the end of June, Terra\u2019s total value locked (TVL) in decentralized finance (defi) has increased from $350,174 to today\u2019s $41.55 million.<\/strong><\/p>\n

A Look at Terra\u2019s Blockchain Ecosystem Over the Last 5 Months Since the Collapse<\/h2>\n

The Terra ecosystem fallout was a dark day for the crypto community when Terra\u2019s stablecoin terrausd (UST), now known as UST classic (USTC), depegged from the token\u2019s $1 parity. Before the collapse, Terra\u2019s luna, now known as luna classic (LUNC) was a top ten crypto asset by market capitalization and Terra\u2019s stablecoin also held a top ten position. Prior to the fallout, luna held the seventh position in terms of crypto market caps, and on April 28, Terra\u2019s native crypto asset was trading for $88 per coin<\/a>.<\/p>\n

Precisely one day before Terra\u2019s stablecoin depegged, USTC made it into the top ten<\/a> crypto asset positions by market capitalization. Furthermore, in terms of TVL in defi, Terra had the second largest TVL under Ethereum (ETH<\/a>) with approximately $29.29 billion<\/a> held on April 29, 2022. Today is a totally different story and the Terra ecosystem is a shell of what it used to be five months ago.<\/p>\n

For instance, LUNC is trading for less than a U.S. penny at $0.00025948 per unit which is a lot lower than the $88 per coin recorded on April 28, and much lower than the coin\u2019s all-time high at $119 per unit recorded two week\u2019s prior. In terms of the new Terra Phoenix blockchain\u2019s native asset which now leverages the name luna (LUNA), it\u2019s down 86.2% lower than the $18.87 all-time high recorded five months ago. The Terra Phoenix chain\u2019s defi TVL, however, has seen growth during the last five months as it has swelled by 12,151% since the end of June.<\/p>\n

At that time, the TVL was $350,174 and since then it has grown to $41.55 million. While the Terra classic chain held $29.29 billion last April, it\u2019s now just under $10 million today at approximately $9,493,635. While Astroport and Terraswap have roughly $3.5 million, the defi lending protocol Anchor has around $1.6 million.<\/p>\n

On the Phoenix chain, in terms of TVL held in defi, the decentralized exchange (dex) app Astroport holds around $27.55 million, followed by Risk Harbor\u2019s $14.76 million. Stader, Spectrum Protocol, and Eris Protocol follow Astroport and Risk Harbor respectively in terms of TVL statistics. Furthermore, while the Terra Bridge once held $1.4 billion during the first week of April, today the Terra Bridge holds around $132 million in value.<\/p>\n

In terms of non-fungible token sales, the new Terra chain\u2019s sales data is not documented as well as the classic chain\u2019s NFT sales before the collapse. Despite the extremely low number of sales, Terra Phoenix chain is supported by more than a half dozen NFT marketplaces. In terms of the total value between the two native coins LUNC and LUNA, Terra\u2019s blockchain assets between the classic and Phoenix chain is roughly $2.18 billion on October 16, 2022, at 3:00 p.m. (ET).<\/p>\n

Terraclassicusd (USTC) is trading for more than a U.S. penny today, at $0.03 per unit on October 16, 2022, with a market valuation of around $378.49 million. The statistics show that at least for today, the crypto market values USTC, LUNA, and LUNC at roughly $2.558 billion, and all three of these crypto assets are incorporated into the TVL held on both chains.<\/p>\n

While $2.558 billion is a lot for a blockchain ecosystem that collapsed, it\u2019s still a shell of the $49.26 billion in value LUNC and USTC used to be worth prior to the blockchain\u2019s fallout on May 7, 2022. In fact, the USD value of LUNA, LUNC, and USTC today is 94.82% less than LUNC\u2019s and USTC\u2019s U.S. dollar value before Terra\u2019s market crash.<\/p>\n

What do you think about the current state of Terra blockchain ecosystem five months after the stablecoin depegging incident and the classic ecosystem\u2019s collapse? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>","protected":false},"excerpt":{"rendered":"

It\u2019s been five months since the Terra ecosystem collapsed as tens of billions of dollars in value disappeared from the crypto economy in a matter of days after May 7. Terra\u2019s new Phoenix blockchain managed to restart the ecosystem to some degree and since the end of June, Terra\u2019s total value locked (TVL) in decentralized […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\nWhile Its Lost 94% in Value Since the Collapse, Terra\u2019s Fractured Ecosystem Is Still Worth $2.5 Billion - Latest Cryptocurrency & blockchain News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/live-script.xyz\/while-its-lost-94-in-value-since-the-collapse-terras-fractured-ecosystem-is-still-worth-2-5-billion\/\" \/>\n<meta property=\"og:locale\" content=\"ko_KR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"While Its Lost 94% in Value Since the Collapse, Terra\u2019s Fractured Ecosystem Is Still Worth $2.5 Billion - Latest Cryptocurrency & blockchain News\" \/>\n<meta property=\"og:description\" content=\"It\u2019s been five months since the Terra ecosystem collapsed as tens of billions of dollars in value disappeared from the crypto economy in a matter of days after May 7. 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