Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Plan Aims to Protect Stablecoin's $1 Parity – Bitcoin News

Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Plan Aims to Protect Stablecoin's $1 Parity

As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether , and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing its dollar peg.

Crypto Market Carnage Strains Algorithmic Stablecoin UST’s Peg, Terra Supporters Claim Stablecoin Was Victimized by a ‘Coordinated Attack’ Digital currency markets have suffered a great deal in recent times as billions of dollars have left the crypto economy during the last few weeks. Of course, crypto market mayhem typically pushes traders toward leveraging stablecoins in order to hedge their wealth from volatile market conditions. During the last few days,

And they still didn't manage to do it. Tether, on the other hand, going strong as always

Really

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Luna literally gave ammo to 3AC to destroy their peg.

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UST Battles for Stability as Traders Panic, LUNA Crashes, and Bitcoin Selloff Fears Grow | CoinMarketCapA depeg of the UST stablecoin has the potential to send shockwaves through the crypto ecosystem — more so now than a few months ago. LUFFY LUFFYTOKEN us take me to the moon 🚀🚀😉⚔🔥🔥 What doesn't kill it, only makes it stronger. Am buying $RUBY Token of RubyPlayNetwork the number one play2earn platform that reward players loyalty with crypto. Binance PlayToEarn CryptoGaming
Source: CoinMarketCap - 🏆 290. / 63 Read more »

Luna Foundation Guard says it will lend out $1.5 billion in BTC and UST to defend stablecoin pegThe Luna Foundation Guard (LFG) said Monday that it will lend out hundreds of millions of dollars worth of bitcoin and the stablecoin UST in order to defend the latter's peg amid a period of market volatility. Why everybody is silent about this Thats one fancy algo
Source: TheBlock__ - 🏆 464. / 53 Read more »