Terraform Labs CEO Explains UST Depegging as LUNA Prices Plunge

The hottest stablecoin ecosystem in the crypto industry has shown signs of floundering over the weekend as UST dropped its peg and LUNA prices plunged. The post Terraform Labs CEO Explains UST Depegging as LUNA Prices Plunge appeared first on BeInCrypto.

Timeline of Terra-luna

The Luna Foundation Guard has once again come forward announcing some key measures to safeguard the Bitcoin peg for its native UST stablecoin. Last weekend turned out to be a major nightmare for Terra (LUNA) investors and all participants of the ecosystems.

A seemingly coordinated attack on the Terra ecosystem occurred this weekend, May 7th, as hundreds of millions of dollars worth of UST was dumped on Curve Finance. The post TerraUSD dollar peg rocked by weekend dump, LUNA drops 20% appeared first on CryptoSlate.

At the time of writing, the Terra [LUNA] token was trading at a negative value of $65.36 that opened at a price of $68.10 for the day. As per additional data from CoinGecko, the token stood at $73.27 on 7 May, 2022 and plummeted by 10.8% as of 8 May 2022.

Terra achieved more than anyone's expectations this year after setting multiple records across the crypto space, but the turn of events in the last few days have, for the first time, rocked the steady sailing of the DeFi chain. Terra takes a break In the last 48 hours, Terra has made some significant strategic developments.

On Sunday (May 8), the price of $LUNA, which is the native staking and governance token of Terra protocol, fell to its lowest level in ten and a half weeks partly due to rumors that stablecoin TerraUSD ($UST) might have come under a co-ordinated attack. What Is Terra ($LUNA)? The official Terra documentation has this to say about the

LUNA price hovers near the multi-month support with a negative outlook. The recent downswing in the price pushed the price toward a crucial juncture from where both sides' opportunity holds for investors.

  The folks from the crypto-verse are ever keen on buying potential digital assets at the dips. Marketers are now acute on investing in prominent cryptocurrencies such as SOL, and LUNA. Which are currently sailing at the bottoms and might ignite a run to the highs. Whilst the SOL's price has been hovering closer to its …

Terra (LUNA) has extended its Bitcoin buying spree, becoming the second-largest corporate holder of the top cryptocurrency. As per this acquisition, the Luna Foundation Guard (LFG) purchased $1.5 billion worth of BTC as per the official annoucement.

May 5, 2022 – London, United Kingdom Metaverse platform Terra Virtua has joined Williams Racing as its official metaverse partner. The multi-year partnership begins this weekend as the Formula One racing team takes to the track in Florida for the first-ever Miami Grand Prix. The collaboration will celebrate one of British motorsport's most innovative and The post Terra Virtua Joins Williams Racing As Official Metaverse Partner appeared first on The Daily Hodl.

Quick Take A failsafe reserve used by high-yield lending protocol Anchor Protocol has declined by over 43% in the last month. The protocol is hoping to try to find an equilibrium to stay afloat but it may need another influx of cash.