Do Kwon shares plan to save the UST stablecoin peg amid massive dip in Terra Luna
Hello lovely people of HIVE community. Hopefully you will be enjoying your life with good health and spirit. Massive dip observed in crypto market as global crypto market fall as low as $1.3 Trillion. Luna blockchain observed a massive dip during last 24 hours.
Billion of Dollars have already wiped out from the Terra market. Luna coins has recorded more than 94% dip in last 24 hours. Currently coin is trading around $1.76. Luna stable coin Tera USD (UST) has also recorded all time lowest worth of $0.29 Massive dip for stable coin.
Luna founder Do Kwon has alrady launched a rescue plan to save UST stablecoin Peg. A.cordingto Kwon plan Luna will increase minting capacitay of protocol from 293 million to 1,200 million, as it will help to accelerate the burning process.
Do kwon plan has helped coin to gain 124.7% rise in last 5 hours. Currently stable UST coin is trading around $0.67. Despite massive recovery, one can't predict about the future of the coin as its main coin LUNA is still reduced 94% worth. Such a massive dip will definitely detorirate people trust over coin. Massive dip make investment risky but high risk mean high profit. What is your opinion my friends?
This is it for my today post. Wish you all a very happy, healthy and prosperous life ahead. Have a nice time.
Posted Using LeoFinance Beta
