BREAKING: Luna price collapses below $5 as UST slides further from dollar peg (via Timccopeland)
The price of Luna is now down to $4.51 as of 3:40 a.m. ET on Wednesday, a slide of 85% in the last 24 hours. It has fallen from a high of $116 in April . Part of the reason Luna is being hit so hard is its role in providing stability for UST.At the same time, UST has completely lost its peg. It's now down to $0.
27, meaning stablecoin owners have lost around two thirds of their value. While the stablecoin has rebounded at various points during its fall, it is now at its lowest point yet.For more breaking stories like this, make sure to subscribe to The Block on© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Terra (LUNA) Collapses 60% as UST “Stablecoin” Drops Below $0.7$LUNA has crashed by more than 60% within 24 hours
Read more »
Binance Suspends LUNA and UST Token Withdrawals.Binance suspended trading of LUNA and UST citing network congestion as the tokens' prices nosedived. thesamreynolds reports.
Read more »
Terra (LUNA) Getting Annihilated as UST Loses Its PegOne of the hottest cryptocurrency projects is facing a major test amid market turmoil
Read more »
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.
Read more »
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.
Read more »
Binance temporarily suspends LUNA, UST withdrawals citing network congestionMajor crypto exchange Binance temporarily suspended the withdrawals for Terra and UST on Tuesday. Does this betray the crypto community’s inherent values of decentralization? (Reporting via Arijit_4)
Read more »