Bitcoin trading at a discount
Over the past 24 hours, the global flagship cryptocurrency has shed 4.62 percent, falling from the $30,000 it had managed to recover to the $29,328 level. On May 7, BTC was trading in the $36,000 zone. The recent plunge has been provoked by the collapse of the Terra UST stablecoin and the native coin of the platform – LUNA.
UST lost its USD peg and has fallen to $0.22 by now, losing another 38 percent in the past 24 hours. LUNA is changing hands at $0.0004709, dropping by a whopping 1,108 percent in the past 24 hours, according to CoinMarketCap. Earlier, U.Today reported that the Terra blockchain had been halted and its founder Do Kwon had suggested a recovery plan both for LUNA and UST.
LFG
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