285 Million UST Sold by Single Wallet on Curve and Binance Triggers Huge Outflows
- A single wallet has dumped a massive 285 million UST onto Curve and Binance, resulting in massive outflows that caused UST to briefly depeg.
- LUNA supporters believe that this might be a “deliberate and coordinated attack” that was orchestrated by a single player to cause damage to the project as this was followed subsequently by “massive shorts on LUNA.”
- Terra co-founder Do Kwon downplayed these concerns, tweeting that he “loves chaos.”
- Subsequently, Terra (LUNA) fell to the ninth spot in terms of market capitalization.
- However, Terra UST remains in 10th place in terms of market capitalization while ranking third largest stablecoin in terms of market value.
- Tron founder Justin Sun, in a tweet, has stated that he was buying UST.
- Data shows that Justin Sun’s address has purchased about 1 million UST on Curve.
