The Luna Foundation revealed it was lending out millions of dollars worth of bitcoin and $UST in order to protect UST's peg.
Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Plan Aims to Protect Stablecoin's $1 Parity
As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether , and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing its dollar peg.
Crypto Market Carnage Strains Algorithmic Stablecoin UST’s Peg, Terra Supporters Claim Stablecoin Was Victimized by a ‘Coordinated Attack’ Digital currency markets have suffered a great deal in recent times as billions of dollars have left the crypto economy during the last few weeks. Of course, crypto market mayhem typically pushes traders toward leveraging stablecoins in order to hedge their wealth from volatile market conditions. During the last few days,
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UST stablecoin struggles to maintain $1 parity amid crypto market turbulenceThe algorithmic stablecoin UST, which is part of the Terra crypto ecosystem, is struggling to maintain parity with the dollar following a Saturday market event.
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Terra (LUNA) Plunges 14% as UST Briefly Loses Its PegTerra’s biggest stablecoin briefly lost its peg. Supporters claim it was a coordinated attack, but critics disagree
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UST Battles for Stability as Traders Panic, LUNA Crashes, and Bitcoin Selloff Fears Grow | CoinMarketCapA depeg of the UST stablecoin has the potential to send shockwaves through the crypto ecosystem — more so now than a few months ago.
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Luna Foundation Guard says it will lend out $1.5 billion in BTC and UST to defend stablecoin pegThe Luna Foundation Guard (LFG) said Monday that it will lend out hundreds of millions of dollars worth of bitcoin and the stablecoin UST in order to defend the latter's peg amid a period of market volatility.
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285 Million UST Sold by Single Wallet on Curve and Binance Triggers Huge OutflowsICYMI: single wallet withdraws 285 million UST on Curve and Binance, causing massive outflows Terra LUNA $LUNA
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