As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93

As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93


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.

LUNA Price Puts Intense Pressure on Terra’s Stablecoin UST

During the past 24 hours, more than $830 million has been liquidated from the crypto economy, and the price of bitcoin (BTC) sunk to lows not seen since January 2022. Over the past seven days, BTC has shed 20.2% in value against the USD, and 11% of the value was shaved during the past 24 hours. Furthermore, numerous crypto assets have seen deeper losses as

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