LUNA, UST Move Closer to Zero, as Do Kwon Asks Holders to ‘Stay Strong’ Markets and Prices Bitcoin News
– Do Kwon has urged holders of LUNA to stay strong, as the price moves ever closer to zero.
– Prices have plunged, falling to a new low this morning.
– Following the UST stablecoin losing parity with USD, prices have plunged, falling to a new low this morning.
– As of writing, LUNA/USD is trading at $5.45, which is marginally higher than its earlier low of $4.21.
– Prices are down nearly 90% from yesterdays peak of $34.28, and only seven days removed from it trading at a high of $88.40.
– UST also moved towards zero, hitting a bottom of $0.2998 earlier today.
– Although some are still confident in the premise of algorithmic stablecoins, it is yet to be seen if UST will survive long enough to be a part of any future developments.
