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Vauld Insights 2022-05-10 07:30:00

LUNA Tumbles Over 50% After UST Stablecoin Loses Dollar Peg

UST dropped to as low as $0.61 on Tuesday, suggesting a potential collapse of the leading algorithmic stablecoin. LUNA, UST’s shock absorber, is down 54% to $29. LFG emptying its Bitcoin reserves to save UST may have exacerbated a Bitcoin selloff that brought BTC to its 10-month lows. Terra’s algorithmic stablecoin TerraUSD (UST) was in […]The post LUNA Tumbles Over 50% After UST Stablecoin Loses Dollar Peg appeared first on Vauld Insights.

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