The rate of Terra during the day decreased by 86%

The value of Terra fell to $4.5 despite the fact that the cryptocurrency was worth $119 in April.

The Terra token collapsed 86%, falling to its lowest since July 2021 at $4.5. At the same time in April Terra reached the maximum value for the time of its existence at $119.5. Since then the value has fallen 95%.

The collapse began on May 8, when TerraUSD (UST) temporarily lost its peg to the dollar. This happened after one user sold nearly $300 million worth of UST in a single transaction. The value of the stablecoin is now hovering around $0.4.

The Luna token is used to stabilize the value of UST, so their rates correlate. Information material from company cryptodefix.com. According to The Block, Luna Foundation Guard plans to raise more than $1 billion in large investors to support UST. They will be invited to buy the LUNA token at a 50% discount.