UST Falls to $0.35, 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.