Futures traders lost $106 million on Terra’s LUNA in the past 24 hours as prices fell below $7. By shauryamalwa
LUNA’s drop was among the steepest for a major cryptocurrency in recent times. Prices fell 85% in the past 24 hours, and 32% in the past hour alone as traders priced in contagion risks to the LUNA tokens as TerraUSD , the platform stablecoin pegged to U.S. dollars, lost its peg earlier this week.apparently issued more tokens
to sell to the open market and raise money to back UST. As per its design, $1 worth of LUNA can be exchanged for exactly 1 UST, or vice versa. The additional supply could have contributed to LUNA’s tremendous price plunge in the past 24 hours.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Luna price collapses below $5 as UST slides further from dollar pegThe prices of Luna (LUNA) and its related stablecoin TerraUSD (UST) are in freefall, straining the entire project.
Les mer »
Binance Suspends LUNA and UST Token Withdrawals.Binance suspended trading of LUNA and UST citing network congestion as the tokens' prices nosedived. thesamreynolds reports.
Les mer »
Terra (LUNA) Getting Annihilated as UST Loses Its PegOne of the hottest cryptocurrency projects is facing a major test amid market turmoil
Les mer »
42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumblesTerra's UST stablecoin lost its peg to the U.S. dollar this week, falling to a low of 0.9428, according to CoinMarketCap.
Les mer »
Terra (LUNA) Collapses 60% as UST “Stablecoin” Drops Below $0.7$LUNA has crashed by more than 60% within 24 hours
Les mer »
Binance suspends LUNA and UST withdrawals amid market turbulenceCrypto exchange Binance has suspended withdrawals of LUNA and UST tokens with the Terra-based stablecoin struggles to recover its peg to the US dollar.
Les mer »