The price of Terra (LUNA) has fallen below $16 per coin. Meanwhile, the network’s dollar-peg stablecoin, TerraUSD (UST), is still trading at just $0.8, much lower than its intended $1.00 value.
LUNA dropped as low as $13.57, down 63.13% in the last 24 hours and 80.74% over the week. before recovering slightly at $17
The most popular stablecoin – TerraUSD – is starting to slip away from the dollar, according to the Luna Foundation Guard (LFG).holdto fix this Organization seeks to deploy Bitcoin reserves on the market to boost UST prices.
This should have contributed to a significant drop in LUNA’s price. which is greatly reduced in comparison Bitcoin And Ethereum is down just 18% and 17% this week, respectively.
Terra currently slips into the 20th largest crypto by market cap. which was only in the top 10 a few days ago.
Do Kwon, Terra co-founder sayToday that he will soon reveal plans to recover UST.
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