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UST to USDT: Here’s what caused largest 1-day dump in USDT’s addresses
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The ongoing cryptocurrency crash has injected a chaotic sentiment within the investors. The steep decline saw $200 billion in value wiped out in a single day.Bitcoin alone fell to below $25,000 on the morning of 12 May, a price not seen since December 2020.
Even, Ethereum, the largest altcoin lost around 20% of its value in just 24 hours.Over the past few days, the TerraUSD (UST) stablecoin, which is meant to maintain a dollar peg, uncoupled dramatically from the $1 mark.
Read more on ambcrypto.comAbout this in other media
Top cryptocurrency prices today: BNP, Cardano, Bitcoin surge up to 12%; Terra USD down 69% in last 24 hours economictimes.indiatimes.com /4 days ago
Coinbase Sued Over Collapsed Stablecoin, but It's Not UST (Yet) cryptonews.com /5 days ago
No rescue for Terra: Swiss asset manager denies $3B LUNA/UST bail-out talks cointelegraph.com /5 days ago
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