Agitated by the delist news the previous day, Terra continues to set the agenda of the crypto market. Earlier this year, while the market was in a downtrend, Terra was the highlight of the year and recorded all-time highs.

Terra founder Do Kwon announced that they would invest $ 10 billion in Bitcoin for the UST project and started an upward trend both for Bitcoin and Terra. LUNA rose as high as $119.40 during this time.

When Terra's stablecoin UST fell below $1, Terra sought to keep UST at $1 by increasing the supply of LUNA. However, LUNA soon crashed and fell to $0.01. Meanwhile, the network was stopped and the crypto money was completely reset after the LUNA supply, which increased to 7 Trillion. Meanwhile, Binance and Coinbese exchanges announced that they had delisted LUNA.

Terra Luna-5

Do Kwon, who didn't make any statements at the time, first revealed a salvation recipe for Terra on the community forum. Do Kwon said that the team is currently trying to use the Luna Foundation Guard's (LFG) Bitcoin reserves to save the Terra ecosystem. Do Kwon also revealed that no LUNA and UST tokens were sold during the crisis. He stated that Terra's priority is to protect his L1 first.

Kwon's twitter post first included the following statements;

   "I've spent the last few days on the phone calling Terra community members – builders, community members, employees, friends and family, that have been devastated by UST depegging.

I am heartbroken about the pain my invention has brought on all of you."

After the developments, it was reflected in the news that an unidentified person went to Do Kwon's house and Kwon's wife asked for protection from the police.

Terra's price is $0.000384 USD at the time of writing and its 24-hour trading volume is $7,341,860,467 USD according to CoinMarketCap.