BREAKING: Luna price collapses below $5 as UST slides further from dollar peg (via Timccopeland)
The price of Luna is now down to $4.51 as of 3:40 a.m. ET on Wednesday, a slide of 85% in the last 24 hours. It has fallen from a high of $116 in April . Part of the reason Luna is being hit so hard is its role in providing stability for UST.At the same time, UST has completely lost its peg. It's now down to $0.
27, meaning stablecoin owners have lost around two thirds of their value. While the stablecoin has rebounded at various points during its fall, it is now at its lowest point yet.For more breaking stories like this, make sure to subscribe to The Block on© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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