the UST stablecoin is only worth $ 0.22, the LUNA loses -89% in 24 hours

Terra : le stablecoin UST touche 0,22 dollar, le LUNA perd -89% en 24h

UST and LUNA completely collapsed this morning

The UST course was in trouble this week, however it is currently in a catastrophic collapse launched on 9 May:

While stablecoin is still believed to be worth UST dollars, it reached $ 0.22 a few minutes ago. A huge, unprecedented fall for a stable base of this size:

Figure 1: Vertiginous fall of the UST stablecoin in the morning

On Twitter, stablecoin creator Don Kwon made efforts to reassure the public. Since yesterday, it promises that a solution is being developed for the UST to regain parity with the dollar:

But we have not heard from this solution for 8 hours. In addition, it is of course doubtful whether a technical solution will be feasible to compensate for the damage done to the project’s reputation. which has just fallen before the eyes of investors.

👉 Find out more about the Terra project (LUNA) and the UST decentralized stable

A project that is falling out live

Because the price of LUNA, the Terra project’s other cryptocurrency, is also logically affected. The token has been removed from the top 10 most capitalized crypto-assets at the moment. In the last 24 hours, it has lost -89%. A huge drop, which makes it reach rank 33 in the ranking, at the time of writing these lines.

LUNA Terra course

Figure 2: LUNA loses almost -90% in one day

With investors’ eyes glued to the price charts, it’s no surprise how can such a big project survive. We will return to this topic today, with a thorough analysis of the causes of this case. Meanwhile, UST and LUNA seem to continue to fall. Where will they stop?

👉 Back to the facts – Luna Foundation Guard (LFG) to lend $ 1.5 billion in Bitcoin (BTC) to keep UST stable

Chart Sources: Figure 1: TradingView (UST / USDT) Figure 2: TradingView (LUNA / USDT)

Newsletter 🍞

Get a crypto news feed every Sunday 👌 And that’s it.

About the Author: Debelloir Mara


Deputy editor of Cryptoast, I fell into the cryptocurrencies pot a few years ago. I am passionate about the innovative technologies emanating from the blockchain and love to share the crispy information with you.
All items from Marine Debelloir.

Pourquoi le stablecoin UST s

Why did the UST drop stablecoin and what is the future of Terra ecosystem?

Vitalik Buterin Proposes New Changes to Ethereum Gas Charge

Vitalik Buterin Proposes New Changes to Ethereum Gas Charge