As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Par...
As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost stability, dropping to $0.932008 per token. Additionally, the Luna Foundation Guard’s bitcoin wallet and ethereum Gnosis safe address has been emptied. **This article was updated with a new paragraph to reflect the price of terrausd (UST) dropping to $0.86 per token on Monday, May 9, 2022, at 6:10 p.m. (ET). It also mentions the Luna Foundation Guard bitcoin wallet that holds 28,205 bitcoin at....
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Cross-chain integrations and the growing popularity of Terra’s UST stablecoin are just a few of the factors behind LUNA’s recent rally to a new all-time high. Stablecoins are an integral part of the the centralized crypto sector and the decentralized finance (DeFi) ecosystems that have sprung up over the course of the past few years because they provide the liquidity needed for traders to easily swap into different assets. They also serve as a shelter against strong downside swings like the 25% correction seen on Dec. 3.One project with a stablecoin component that has seen its price surge....
On Thursday, the cryptocurrency exchange Huobi Global announced that the trading platform plans to delist the stablecoin HUSD and the delisting will begin at 08:00 (UTC) on October 28, 2022. Furthermore, users with HUSD held on the exchange will see their balances auto-converted to the stablecoin asset tether and the exchange expects to complete the full conversion by November 4. Huobi Global Reveals Plans to Delist HUSD and Auto-Convert Balances to Tether, HUSD Stablecoin Drops Below $1 Peg Following Announcement Huobi is set to delist the stablecoin HUSD according to an update from the....
Data shows the crypto futures market has observed around $150 million in liquidations in the past day as the price of Bitcoin drops below $22k. $150 Million Gets Liquidated In The Crypto Futures Market During Last 24 Hours In case anyone isn’t aware of what “liquidations” are, it’s best to first take a brief look […]
The new decentralized finance (defi) stablecoin project called Fei had some issues this week after the 1:1 USD pegged token dropped well below its targeted $1 value. The Fei project was supposed to be similar to Maker DAO’s algorithmic DAI stablecoin and it was backed by major venture capital firms. Fei Protocol Market Price Drops to $0.73 and the Stablecoin Fei’s Bid Slides to $0.136 On social media and forums, crypto advocates have been discussing the defi project called Fei after it lost its peg with the U.S. dollar this week. Currently, a single fei (FEI) is exchanging....
The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a significant selloff. As the crypto community still tries to decipher Terra’s ongoing pegging-depegging fiasco in relation to its stablecoin offering Terra USD (UST), major crypto exchange Binance announced the suspension of withdrawals for LUNA and UST until further notice on Tuesday. The market value of UST, Terra’s stablecoin offering, recently fell below the expected $1 price point as LUNA’s price witnessed a sharp decline owing to a....