A factual correction has been made to this post, on an interesting point: The Terra collapse was
two orders of magnitude larger than the Mt. Gox collapse, in dollar terms of total losses (according to fair-market valuations at the time of the collapse).
The Terra collapse also affected many more people.
Although the direct losses of UST and LUNA holders were outside the Bitcoin ecosystem, the market impact on BTC was surely much bigger than the direct effect of the LFG BTC dump.
Comparing the scale of it to Gox rather puts the matter in a new perspectiveat least, for anyone who has spent years thinking of Gox as an example of a major collapse causing a market meltdown.
Certainly an interesting point of view.
However, Mt Gox collapse affected the whole market, and there is no really good evidence that UST/Terra collapse did the same.
Mt Gox had something like 80% of daily volume of all cryptocurrency market by the time, and it destroyed the BTC price. It was nearly the end of BTC (i have seen antonopoulos saying that a few years ago).
Although UST affect a lot of people, those people had little connection to BTC, and the price collapse we are experiencing now is much more related to FED, inflation, war and some other bad news outside of crytpocurrency ecosystem.
