UST has only 59 million USD in reserves and MCAP of 1.4bn, OH for FTX:USTPERP by YMX-Trader

fundamental trendanalysis luna ust btcusd short

UST has a 59 million USD in reserves, which is held by LFG (Luna Foundation Guard). Link to real time view here:

UST mcap is currently 1.9bn USD :

LUNA mcap is 400 million initially LUNA was minted 6.5 trillion more to try to peg UST to 1 USD. It failed and minting has been stopped. Here total circulation supply of LUNA, it has remain same since late yesterday:

So UST is not getting support from minting more LUNA anymore and even if it would that would not safe UST coz there is 2bn UST and LUNA mcap is only 400 million with current price.

So if 59 million USD worth reserves is all there is that is backing the value of UST, shouldn't the next targets for UST be 0.01, 0.001, 0.0001 anc so on?

This is just an idea and my reasearch and math may be wrong. So do your own research and let me know in comments what you think of this idea.

Its sad but I think UST is really worth max 70 million MCAP which is quite a drastic drop in its price.

Order cancelled:

The latest proposal proposes that current UST holders be compensated based on the snapshot at the launch time of the new LUNA.

Based on the proposal, the value of UST at .09 vs LUNA at .000186 is 3x different (compared to the new LUNA both receive if the proposal is accepted). UST to match LUNA's current price if the latest proposal goes through should be around .30 cents. Therefore we cancel the targets.

Also, the proposal will be voted on by the community next Friday. So nothing is sure, and extreme caution should be taken in an attempt to trade UST currently.

See latest proposal here:

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