mlsanityData to 14 Oct 2026

Anatomy of a Stablecoin's failure: the Terra-Luna case

arXiv 2207.13914 ↗First posted 28 Jul 2022q-fin.GN cs.SI q-fin.STcited by 9

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Abstract (arXiv)

We quantitatively describe the main events that led to the Terra project's failure in May 2022. We first review, in a systematic way, news from heterogeneous social media sources; we discuss the fragility of the Terra project and its vicious dependence on the Anchor protocol. We hence identify the crash's trigger events, analysing hourly and transaction data for Bitcoin, Luna, and TerraUSD. Finally, using state-of-the-art techniques from network science, we study the evolution of dependency structures for 61 highly capitalised cryptocurrencies during the down-market and we also highlight the absence of herding behaviour analysing cross-sectional absolute deviation of returns.

Key facts. Cited by 9 papers in the map (data through 14 Oct 2026). First posted on arXiv 28 Jul 2022.

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Cited by year (2026 to 14 Oct)

Citing papers per year: 2023: 4; 2024: 1; 2025: 3; 2026: 1.

9 papers.

  1. 2024Deep Limit Order Book Forecastingcited by 7
  2. 2023Homological Neural Networks: A Sparse Architecture for Multivariate Complexitycited by 5
  3. 2023Homological Convolutional Neural Networkscited by 4
  4. 2023Topological Feature Selectioncited by 3
  5. 2025DeXposure: A Dataset and Benchmarks for Inter-protocol Credit Exposure in Decentralized Financial Networkscited by 3
  6. 2023Can Blockchains Reliably Train Machine Learning Models?cited by 1
  7. 2025Information Filtering Networks: Theoretical Foundations, Generative Methodologies, and Real-World Applicationscited by 1
  8. 2025Leveraging Large Language Models to Bridge Cross-Domain Transparency in Stablecoinscited by 0
  9. 2026Are Whitepaper Claims Reflected in Market Structure? A Contamination-Aware Pipeline and a Power-Limited Nullcited by 0