Terra (LUNA) founder Do Kwon on Wednesday finally took to Twitter again, floating ideas for how the algorithmic stablecoin terraUSD (UST) can be saved after losing its US dollar peg on Monday. (Updated at 10:51 UTC: updates throughout the entire text.)… Read More: Terra’s Do Kwon Floats Ideas to Save UST as LUNA’s Collapse…
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Do Kwon has urged holders of LUNA to “stay strong,” as the price moves ever closer to zero. Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning. LUNA, UST Tumble Toward Zero As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its…
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All bets are off as volatility takes complete hold of Terra’s tokens and a return to a U.S. dollar peg seems nowhere in sight. Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding crypto assets. Data from Cointelegraph Markets Pro and TradingView showed…
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Bitcoin price started an upside correction above the USD 31,000 level. BTC even climbed above USD 32,000 but struggled near USD 32,500. It is currently (04:03 UTC) trading near USD 31,300 and is up 2% in a day and down 17% in a week. Similarly, most major altcoins are facing hurdles. ETH is facing…
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Bitcoin (BTC) and the broader crypto market went into a sharp selloff over the past day, led lower by a de-pegging of the partially BTC-backed stablecoin terraUSD (UST) and a falling risk sentiment globally…. Read More: Bitcoin & Crypto Selloff: Liquidations, Extreme Fear, Eyes on MicroStrategy, and Possible Support Levels Read more »Pay, Trade, Buy…
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TerraUSD (UST), an algorithmic stablecoin hosted by the Terra network and created by South Korea’s Terraform Labs, has once again lost its dollar peg after a wave of sell-offs hit the crypto market. The stablecoin, which is supposed to maintain a value of USD 1 by creating and destroying supply through a swap with…
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A frantic effort to rescue UST continues as Bitcoin weathers the storm to receive a $35,000 target next. Bitcoin (BTC) fell below $30,000 for the first time in ten months on May 10 as turmoil at Blockchain protocol Terra continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price bounces at $29,700 Data from Cointelegraph…
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The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a significant selloff. As the crypto community still tries to decipher Terra’s ongoing pegging-de-pegging fiasco in relation to its stablecoin offering TerraUSD (UST), major crypto exchange Binance temporarily suspended the…
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The Bitcoin price plunged below $31,000 on Monday, marking a new low for the year. Altcoins also sold off sharply. Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin’s price…
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Bitcoin (BTC) crashed to its lowest level since last summer as the number one cryptocurrency hit the USD 32,000 level. The Monday crash came as the broader crypto market sold off over the weekend, led by falling stock prices and fears that terraUSD (UST) could lose its dollar peg. Meanwhile, several analysts pointed to possible…
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