The LUNA and UST Crash Explained in 5 Charts
One of the earliest signs that things were going wrong for Terra came when UST deposits on Anchor started dropping Saturday. Original Source
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UST
Terra contagion leads to 80%+ decline in DeFi protocols associated with UST
The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered. The forced selling of the Bitcoin (BTC) holdings backing a portion
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‘Failure Should Be an Option,’ US Sen. Pat Toomey Says of UST Turmoil
"It does make sense that this episode with Terra would refocus attention on stablecoins generally,” Toomey told reporters on a conference call, but he defended tokens backed by assets such as cash and securities and said he doesn’t see them as a risk to the financial system, as suggested by
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Bitcoin fights to hold $29K as fear of regulation and Terra’s UST implosion hit crypto hard
Bitcoin (BTC) price initially bounced from its recent low at $29,000 but the overall market sentiment after a 25% price drop in five days is still largely negative. Currently, the crypto "Fear and Greed Index," which uses volatility, volume, social metrics, Bitcoin dominance and Google trends data, has plunged to
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'$DAI Will Die' Tweet Twisted Back on Terra's Kwon as UST Loses $1 Peg
DAI briefly surpassed UST as the biggest DeFi stablecoin on Wednesday. Original Source
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UST Meltdown Hasn't Spurred US Financial Stability Council Meeting: Sources
As one of crypto world’s major stablecoins – TerraUSD (UST) – slid toward disaster this week, it hasn’t triggered any meetings of U.S. government officials. Despite the recent federal stance that stablecoins could pose a rising threat to the U.S. financial system, the Financial Stability Oversight Council (FSOC) hasn’t gathered
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Crisis in Terra's UST Stablecoin Spreads to Neutrino USD on Waves Protocol
Crisis in Terra's UST Stablecoin Spreads to Neutrino USD on Waves Protocol Source
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Terra founder Do Kwon shares plan to save the UST stablecoin peg
Do Kwon, CEO of Terraform Labs, will not admit defeat. After an 18-hour wait in which his coins Terra (LUNA) and TerraUSD (UST) endured a face-ripping freefall, Do Kwon has announced his “rescue plan" for the Terra community. Terra is down 90% from its all-time highs, while the “stablecoin” UST is
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Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to ‘$138K’ in UST
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 both the firm’s in-house token, Terra (LUNA) and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day.A dubious new
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UST Falls to $0.35, Terra Futures See $106M in Liquidations
Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday. Original Source
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