Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Plan Aims to Protect Stablecoin's $1 Parity
As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether , and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing its dollar peg.
Crypto Market Carnage Strains Algorithmic Stablecoin UST’s Peg, Terra Supporters Claim Stablecoin Was Victimized by a ‘Coordinated Attack’ Digital currency markets have suffered a great deal in recent times as billions of dollars have left the crypto economy during the last few weeks. Of course, crypto market mayhem typically pushes traders toward leveraging stablecoins in order to hedge their wealth from volatile market conditions. During the last few days,
And they still didn't manage to do it. Tether, on the other hand, going strong as always
Really
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