The development comes after the Luna Foundation Guard announced that its massive bitcoin reserves will be used to defend UST’s dollar peg.
TerraUSD (UST) has lost its dollar peg for the second time in three days, falling to as low as $0.65 on Monday, according to the most recent price estimates from CoinMarketCap.
As UST has “depegged,” the price of LUNA, its sister token, has dropped over 44% to $35 in the past 24 hours according to CoinMarketCap.
Read entire article here: https://www.coindesk.com/business/2022/05/09/ust-stablecoin-falls-below-dollar-peg-for-second-time-in-48-hours/
