With the recent crypto bloodbath, most cryptocurrencies are down roughly 20% this week. However, Terra Luna has been down over 78% in the past seven days, and its stablecoin TerraUSD (UST) is down over 19%, currently trading at $0.80. This article looks at what’s going on with Terra Luna and why UST cannot maintain its price of $1. Why Is LUNA and UST Price Dropping? It’s clear that there’s enormous selling pressure for Luna and its stablecoin. It seems there’s a coordinated attack on the cryptocurrency to destabilize its stablecoin and market. For those unfamiliar with Luna’s stablecoin system, each
The post Why Is Terra Luna and UST Price Dropping? What’s Really Going On? appeared first on The Merkle News.
Powered by WPeMatico