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Bitcoin was down over 3.5% throughout the trading day in Asia, briefly touching the $30,230 mark, according to the CoinDesk price index, as the Luna Foundation Guard (LFG) moves the entirety of its reserves to bitcoin exchanges to defend UST’s peg. Source
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The funding comes as the dollar-pegged stablecoin dropped as low as $0.60 yesterday amid broader market turmoil. Source
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TerraUSD fell below $0.90 late Tuesday after 12 hours of relatively stable price action. Original Source
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U.S. Treasury Secretary Janet Yellen focused on the ongoing distress of stablecoin UST during testimony before a U.S. Senate panel on Tuesday, just hours after the purportedly dollar-pegged token plummeted to a low of $0.65 and at least one platform halted trading. Source
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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 one of the most topical discussions in crypto during the past 24 hours, as many have been betting on whether
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As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering Terra USD (UST), major crypto exchange Binance announced the suspension of withdrawals for LUNA and UST until further notice on Tuesday. The market value of UST, Terra’s stablecoin offering, recently fell below the
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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: TradingViewBitcoin price bounces at $29,700Data from Cryptox Markets Pro and TradingView showed BTC/USD plumbing lows of $29,731 on Bitstamp.The first trip under the $30,000
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LUNA token down is 52% on-day while UST is trading at 76 cents. Original Source
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Deposits on the Anchor protocol plunged below $9 billion from $14 billion since Friday after Terra’s stablecoin, UST, struggles to recover to $1. ANC, the protocol’s token fell 35% during the day. Source
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By tapping into its bitcoin reserves, UST’s salvation may have exacerbated a bitcoin sell-off that brought BTC to its lowest price since July 2021. Original Source
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