Is This END OF CRYPTO? UST & LUNA Crash Update!
Is This END OF CRYPTO? LUNA & UST Crash Update!
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Bitcoin fell as far as $25,402 Thursday, the lowest level since December 2020, according to CoinDesk data. The cryptocurrency is trading at around $28,217, down 5.4% over the past 24 hours. The next key support stands at $21,500 level
It’s been a crushing few days for the Terra project, in a week that has been unforgiving for cryptocurrency as a whole. Over the past few days, the TerraUSD (UST) stablecoin, which is meant to maintain a dollar peg, uncoupled dramatically from the $1 mark and dropped to a low of less than 30 cents on May 10th. In the latest update to the saga, the beleaguered project put its entire blockchain on halt for around two hours on Thursday, freezing user funds until the blockchain was unpaused.
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Disclaimer: This is not an investment advice. I’m not a financial adviser. Always do your own research and only invest solely based on your own findings and personal judgement. Non-profit, educational or personal use tips the balance in favor or of fair use.
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