UST Lose Its Peg, Terra (LUNA) Price Crashes More Than 90%! What's the Recovery Plan?

Over the past few weeks, the cryptocurrency market is trading at an alarming rate dragging almost every cryptocurrency along with it. Among such cryptocurrencies is Terra blockchain's LUNA.  Over the last 24hrs, Terra's LUNA has erased the wealth of investors that stands at almost $11 billion. At the time of writing, LUNA Price is down …

Timeline of Terra-luna, Terrausd

The Luna Foundation Guard (LFG) has been battling to shore up its beleaguered UST stablecoin, which has crashed from its dollar peg yet again. The post Luna Foundation Guard Seeks Funding as UST Crashes From Peg Again appeared first on BeInCrypto.

A Panic selling in Terra(LUNA) price shows a roller-coaster dip in the technical chart. Concerning the new All-Time-High of $120, the LUNA price has depreciated by 88.73% and dipped below the 0.786 FIB($30).

Things seem to be getting from bad to worse for the Terra ecosystem as the LUNA price continues its further correction. In the last 24-hours, LUNA lost another 57% and is currently trading at $16.71.

The price of LUNA, the governance token of the Terra blockchain ecosystem, fell sharply on Tuesday. The post Terra blockchain token LUNA falls below $15 appeared first on The Block.

The Luna Foundation Guard has held talks with large investors with the aim of raising over $1 billion to shore up UST amid weakening sentiment in the crypto market. The post Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sources appeared first on The Block.

TerraUSD, one of the largest stablecoins in crypto, may have escaped a classic bank-run-style death spiral Monday night (May 9) thanks to a massive cash infusion from backers — and a timely trading halt on the world's largest cryptocurrency exchange. Stablecoins are increasingly seen as a potential competitor to fiat currencies in the payments market.

Macro guru and Real Vision CEO Raoul Pal says the recent issues with Terra's algorithmic stablecoin, UST, may lead to new stablecoin regulation. In a new interview with Bankless, the former Goldman Sachs executive says UST's recent loss of its US dollar (USD) peg is part and parcel of most financial markets. UST is designed The post After TerraUSD (UST) Depegging, Macro Guru Raoul Pal Says Stablecoin Regulation Could Be Coming appeared first on The Daily Hodl.

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

The UST stablecoin's dramatic decline in value featured in U.S. Treasury Secretary Janet Yellen's testimony before the committee on banking, housing, and urban affairs, U.S. Senate, on Tuesday. Yellen stated that the stablecoin's turbulence clearly illustrates risks associated with crypto assets to financial stability, adding that the treasury department would soon issue a comprehensive report The post $UST Decline: Here's U.S. Government's Quick Response appeared first on CoinGape.

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.