Terra contagion leads to 80%+ decline in DeFi protocols associated with UST By Cointelegraph
[ad_1]
Terra contagion leads to 80%+ decline in DeFi protocols associated with USTThe knock-on effect of the collapse of (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered.
The forced selling of the (BTC) holdings backing a portion of UST also influenced BTC’s current drop to $29,000 and analysts fear that DeFi platforms that have liquidity pools primarily comprised of UST and LUNA will collapse.
Continue Reading on Coin Telegraph
[ad_2]
Source link
Terra contagion leads to 80%+ decline in DeFi protocols associated with USTThe knock-on effect of the collapse of (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered.
The forced selling of the (BTC) holdings backing a portion of UST also influenced BTC’s current drop to $29,000 and analysts fear that DeFi platforms that have liquidity pools primarily comprised of UST and LUNA will collapse.
Continue Reading on Coin Telegraph
About The Author
