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DEI – DIGIT INFO https://www.digit.info Bookmarking Crypto Insights Wed, 01 Jun 2022 19:10:02 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.digit.info/wp-content/uploads/2024/07/cropped-61589-32x32.png DEI – DIGIT INFO https://www.digit.info 32 32 Stablecoins No Longer Stable – DEI Loses Its Peg, Falls Below $0.4 https://www.digit.info/stablecoins-no-longer-stable-dei-loses-its-peg-falls-below-0-4/ Wed, 01 Jun 2022 19:10:02 +0000 https://www.digit.info/2022/06/01/stablecoins-no-longer-stable-dei-loses-its-peg-falls-below-0-4/ Read more]]>

Imagine waking up and finding out that you’ve lost over 60% of your supposed savings. Last month, Investors lost more than 99% of their savings in the UST-LUNA collapse, which shook the entire Crypto space. Over $800 million worth of cryptocurrency long positions were liquidated in one day. This is due to the selloff caused by a disappointing disaster for Terra’s algorithmic stablecoin, TerraUSD (UST), which lost its peg to the U.S. dollar and dipped to around 26 cents. USDT PANIC and Reassurance After more than $3 billion worth of tokens fled the system in a single day, plunging to

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