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UST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation

On Monday, May 9, 2022, the stablecoin terrausd (UST) lost its parity with the U.S. dollar and dropped to an all-time low of $0.66 per unit. The stablecoin has been…

Continue ReadingUST Rebounds From $0.66 per Coin to $0.93, Crypto Community Assesses Stablecoin’s Damaged Reputation

Luna’s BTC Reserves Gone as Exchanges Halt UST Withdrawals Amid Turbulent 24 Hours

The latest move by the cryptocurrency exchange comes after LFG decided to lend $1.5 billion in BTC and UST to defend the latter’s peg. Binance has announced temporarily suspending LUNA…

Continue ReadingLuna’s BTC Reserves Gone as Exchanges Halt UST Withdrawals Amid Turbulent 24 Hours

As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93

As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost…

Continue ReadingAs LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93

Luna Foundation to Loan $1.5B in BTC and UST to Defend Stablecoin’s Peg

This isn’t the first time UST has lost its peg. But the controversial algorithmic stablecoin de-pegged yet again just days after the Luna Foundation Guard (LFG), the organization backing it,…

Continue ReadingLuna Foundation to Loan $1.5B in BTC and UST to Defend Stablecoin’s Peg

Value Locked in Decentralized Finance Slides 17% Lower Over the Last 30 Days

The value locked in decentralized finance (defi) protocols has lost 17.77% over the last 30 days, falling from $221.67 billion to today’s $182.27 billion. Moreover, statistics show the total value…

Continue ReadingValue Locked in Decentralized Finance Slides 17% Lower Over the Last 30 Days