UST Falls to $0.35, Terra Futures See $106M in Liquidations

https://www.coindesk.com/markets/2022/05/11/ust-falls-to-035-terra-futures-see-106m-in-liquidations/

Some 58% of LUNA traders were betting on higher prices even as the tokens fell yesterday.

LUNA’s drop was among the steepest for a major cryptocurrency in recent times. Prices fell 85% in the past 24 hours, and 32% in the past hour alone as traders priced in contagion risks to the LUNA tokens as TerraUSD (UST), the platform stablecoin pegged to U.S. dollars, lost its peg earlier this week.