UST Falls to $0.35, Terra Futures See $106M in Liquidations

Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday. LUNA’s drop was among the steepest for a major cryptocurrency in recent times. Prices fell 85% in the past 24 hours, and 32% in the past hour alone as traders priced in contagion risks to the LUNA tokens as TerraUSD (UST), the platform stablecoin pegged to U.S. dollars, lost its peg earlier this week.

https://www.coindesk.com/markets/2022/05/11/ust-falls-to-035-terra-futures-see-106m-in-liquidations/

Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday.

LUNA’s drop was among the steepest for a major cryptocurrency in recent times. Prices fell 85% in the past 24 hours, and 32% in the past hour alone as traders priced in contagion risks to the LUNA tokens as TerraUSD (UST), the platform stablecoin pegged to U.S. dollars, lost its peg earlier this week.

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