LUNA drops 20% in a day as whale dumps Terra’s UST stablecoin — selloff risks ahead? By Cointelegraph
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LUNA drops 20% in a day as whale dumps Terra’s UST stablecoin — selloff risks ahead?(LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST).
The pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of UST. As a result of this selloff, UST briefly lost its U.S. dollar peg, falling to as low as $0.98.
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LUNA drops 20% in a day as whale dumps Terra’s UST stablecoin — selloff risks ahead?(LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST).
The pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of UST. As a result of this selloff, UST briefly lost its U.S. dollar peg, falling to as low as $0.98.
Continue Reading on Coin Telegraph
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