Terra LUNA Crashes 96% After UST Stablecoin Drops To $0.41

Terra LUNA crashes and in approximate position. like yesterday in Crypto News TerraUSD (UST), the network stablecoin, has lost its correlation with the dollar. This caused even more chaos, which seemed to have long since subsided yesterday. But now it hits again!

Due to the chaos in the market and the situation around floor cabinets, the stablecoin is in heavy water. The price of floor standing cabinets briefly dropped to $0.98 day before yesterday, according to a report from the Luna Foundation Guard (LFG). Established $1.5 billion worth of Bitcoin (BTC) and UST for third party lending. To provide liquidity and thus support the value of underground reservoirs.

As you can see from the chart of the stablecoin, so far this has not done much. So, since a ground tank should ideally always cost $1, even in times like this it’s hard to find stability:

Although the price has stabilized somewhat again, the situation has not yet been resolved. Terra co-founder Do Kwon took to Twitter to “raise capital” and ” difficult boys, ” which means something along the lines of, “Wait, guys. “

The pain can also be seen in the chart of LUNA, a cryptocurrency that allows users to create underground vaults. Users can destroy their LUNA and then get ground lockers in return, and vice versa. As such, the value of Treasuries should continue to trade at $1 due to arbitrage opportunities. Since things are not going well, it seems that investors are losing faith in the project.

Compared to what it was 48 hours ago, the price of LUNA is reduced by 96%! The cryptocurrency is trading at $1.3, it traded around $80 day before yesterday. In a word, difficult times for Terra Network. We hope the problems will be resolved soon.

Terra Luna on CoinMarketCap

Suggested Reading

Metaverse is taking the Technology Sector by Storm

Previous Post
Next Post

Leave a Reply

Your email address will not be published. Required fields are marked *