Stablecoins No Longer Stable – DEI Loses Its Peg, Falls Below $0.4 » The Merkle News #Stablecoins #Longer #Stable #DEI #Loses #Peg #Falls #Merkle #News Welcome to TmZ Blog, here is the new story we have for you today:
Imagine waking up and finding out that you’ve lost over 60% of your supposed savings.
Last month, Investors lost more than 99% of their savings in the UST-LUNA collapse, which shook the entire Crypto space.
Over $800 million worth of cryptocurrency long positions were liquidated in one day. This is due to the selloff caused by a disappointing disaster for Terra’s algorithmic stablecoin, TerraUSD (UST), which lost its peg to the U.S. dollar and dipped to around 26 cents.