South Korean Exchanges Warn LUNA Investors as UST Collapse Mirrors TITAN Saga

-LUNA has been designated as a cautionary item by the South Korean cryptocurrency exchange UpBit.
-This is due to the recent loss of its peg with the US dollar by the Terra project’s flagship stablecoin, UST.
-Bithumb has also issued a warning to its investors about LUNA, designating it as an “Investment Warning Item.”
-According to the crypto analytic platform IntoTheBlock, the number of transactions has reached a new high, representing a massive 13x increase against the previous two days.
-This is due to investors rushing to sell their UST positions.
-Andr Nakano de Melo, the CEO of TITANDAO, has highlighted the current problem with UST and LUNA.
-He also went on to add that “exchanges need to stop the outflows as they might not have enough tokens (UST and LUNA) for all traders that want to withdraw.”
-The collateral damage on LUNA for UST’s significant deviation was epic.
-According to Melo, LUNA is following a similar death spiral as TITAN.

Terra Korea South Korean Exchanges Warn LUNA Investors as UST Collapse Mirrors TITAN Saga
South Korean Exchanges Warn LUNA Investors as UST Collapse Mirrors TITAN Saga 2

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