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
The post Stablecoins No Longer Stable – DEI Loses Its Peg, Falls Below $0.4 appeared first on The Merkle News.
Powered by WPeMatico
