Biggest Movers: LUNA Loses 50% of Its Value, While XMR and AXS Declines Continue

LUNA was down by over 50% in today's session as markets continued to react to UST losing its parity with USD. As such traders lost faith in the stablecoin founded by Do Kwon, which dropped to its lowest point since September. Whilst LUNA stole the headlines, XMR and AXS also saw recent losses extended. Terra.

Timeline of Terra-luna, Monero

Binance has temporarily suspended withdrawals of the two major Terra blockchain tokens including LUNA, the native token of Terra, and Terra USD (UST), Terra's flagship algorithmic stablecoin.  The post Binance Suspends Withdrawals of LUNA and UST appeared first on BeInCrypto.

  Terra (LUNA) is now in the headlines of the crypto industry. As marketers find it difficult to digest the ongoing pegging-de-pegging catastrophe. Which has led to TerraUSD (UST) price falling below the $1 mark. Wherefore, the brunt is also faced by LUNA, which has fallen to its multi-month low. In light of this Binance has …

Be[in]Crypto takes a look at the price movement for seven different cryptocurrencies, including Terra (LUNA), which fell considerably on May 9. The post Terra (LUNA) Drops 52% In a Single Day – Multi Coin Analysis appeared first on BeInCrypto.

Stablecoins rose to fame following the trust factor; the value of stablecoins is based on people's trust in the company holding the collateralized reserve asset. But, that trust may waver on occasion.

Binance suspended UST and Luna withdrawals because of network congestion while the UST stablecoin fell below its $1 peg and LUNA witnessed a sharp drop as well so let's read more today in our latest Binance news. As the crypto community tries to find out what terra's ongoing depegging fiasco will bring as a consequence,

The crypto space witnessed yet another brutal attack as the star crypto fell beneath $30,000 for the first time after the July 2021 crash. The price marked its 2022 lows at around $29,730 and quickly rebounded back above. No doubt, many speculated the BTC price to slash to $27K or $28K, but what actually went …

The price of the Terra (LUNA) cryptocurrency fell 60%, under $25 for the first time since September 2021, as of press time. Following these developments, crypto exchange Binance announced that it was temporarily halting the withdrawal of LUNA and UST, algorithmic US dollar stablecoin.

In less than 48 hours, the USD stablecoin TerraUSD (UST) has lost its dollar peg for the second time. The market price for TerraUSD fell to as low as $0.65 on Monday, losing $0.35.

TerraUSD (UST), an algorithmic stablecoin hosted by the Terra network and created by South Korea's Terraform Labs, has once again lost its dollar peg after a wave of sell-offs hit the crypto market.

LUNA is bearing the brunt of a major turbulence taking shape in the broader crypto market. The de-pegging of the UST stablecoin from the U.S. dollar has caused chaos on Satoshi Street.