All bets are off as volatility takes complete hold of Terra’s tokens and a return to a U.S. dollar peg seems nowhere in sight.
Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding cryptoassets.Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, LUNA and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day.A dubious new “all-time high” for BitcoinAfter a mass sell-off which some argued was “coordinated” to destroy the Terra ecosystem, UST lost its peg to the U.S. dollar.Attempts to shore up the peg with both LUNA and Bitcoin (BTC) reserves failed, and as uncertainty gripped the market, both UST and LUNA dived to levels unimaginable just days previously.Getting close … stay strong, lunatics— Do Kwon (@stablekwon) May 10, 2022
Co-founder Do Kwon said that a “recovery plan” was due for release, detai
We współpracy z: https://cointelegraph.com/news/terra-rescue-plan-still-at-large-as-luna-falls-below-5-bitcoin-spikes-to-138k-in-ust
