The most checking LUna - but know that the supply is very high, hoping for high changes it's very hard.
There is more chance for increase with UST than luna - this has more things, also if the binance support takes over - UST will be the coin that can show a back trend.
My expectation is that we are going to see more changes in UST, than in LUNA, and this has...
Algorithmic stablecoin UST dropped by 92% and there are still different rumors: the network collapsed on its own or was deliberately destroyed to buy back all the Bitcoins from the Terra Foundation. As we know, about 80,000 BTC were used to secure this stabelcoin. Many holders of UST, just stablecoin(!), have lost about $10B.
📊In order to understand how it all...
Be aware, there's a reoccurring theme in stablecoins lately, and doesn't seem to be getting better yet. Many crypto/assets are down more about 50% in a few weeks! Now would be a good time to partially close some shorts issued against stablecoins, or if you sold lots of crypto and hold stablecoins which are still lucky enough to be stable: USDT, BUSD, and a few...
It is starting to be apparent that algorithm stable coins are toxic and verging on Ponzi schemes. I was not aware of UST, LUNA's based stable coin, until somebody pointed out to me that it is the reason that Luna is tanking. Although initially Luna was dropping because of weakness in the market, it probably triggered a run on the money for UST and the algorithm...
This will be EPIC.
Terra, Luna, $UST... SO BAD.
Whats next? Let's see!
By the way, I sold all my $UST at PEG... I feel so lucky right now.
Only interested on buy $LUNA if it keeps dropping hard.
ust depegging from the other stablecoin values has played havoc on the market today
praying this repegs or something is figured out
market seems to be mirroring this coins price action as a relative value rn