On Wednesday, May 11, the algorithmic stablecoin of the Terra ecosystem – TerraUSD (UST) – continued to lose its peg to the US dollar (the most important characteristic for every stablecoin). The LUNA cryptocurrency used to issue it collapsed by more than 90% LUNA became the first coin in history...
At the end of yesterday’s trading day, the stablecoin UST issued on the Terra blockchain lost its peg to the dollar. The token exchange rate from one (US dollars) sank by 40% to the level of 0.6%, which forced the developers to take emergency measures. It is worth noting that...
