Cryptocurrency News
Untethered: Here’s everything you need to know about TerraUSD, Tether and other stablecoins
2022.05.12 18:20
Untethered: Here’s everything you need to know about TerraUSD, Tether and other stablecoins
The crypto winter could be claiming more casualties among the stablecoin camp. The de-pegging of TerraUSD (UST) on Tuesday triggered market sell-offs, and now Tether (USDT) appears to be losing its footing, having slipped against the U.S. dollar.
The algorithmic stablecoin UST is, as the name implies, algorithmically backed. LUNA, the ecosystem’s corresponding token, has sunk over 95% since Tuesday, while UST continues to languish around the $0.50 mark.
Tether dipped to $0.95 at 8:15 am UTC. Source: CoinMarketCap
