Crypto TANKS 99.99%: Terra blockchain halted again

  • The cryptocurrency fell more than 99 per cent during early hours of Friday as a result of the UST algorithmic stablecoin de-pegging debacle.
  • The Terra ecosystem’s survival is dependent on the adoption of UST as a stablecoin; thus, LUNA and UST are inextricably linked.
  • LUNA invests in UST and loses money as the demand for UST increases.

[Via]