Billions of Luna minted as supply grows 20-fold in four days

Billions of Luna minted as supply grows 20-fold in four days By @Timccopeland

5/12/2022 3:09:00 PM

Billions of Luna minted as supply grows 20-fold in four days By Timccopeland

The UST crisis is causing billions of Luna to be minted — and it may not ease up any time soon.

advertisementto the US dollar continues to take its toll.To understand what is going on, we need to know the relationship between Luna and UST.When Luna’s price was much higher, say $100, if you redeemed 1 UST for $1 worth of Luna, you would only get 0.01 LUNA. As a result, such swaps wouldn’t have increased Luna’s supply by very much.

It has also led to an exponential increase in the supply of Luna. On Wednesday the supply of Luna increased from 386 million to 1.5 billion — up by 1.2 billion. So far today, the supply has already increased to 7.1 billion — up a further 5.5 billion.On May 10, the price fell 64%. On May 11, it fell a further 95%. So far today, it has slid a further 90%. The coin now trades at a fraction of a fraction of what it was worth just a few days ago.

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There was no max supply! Preview of the US dollar in a few years. Timccopeland This is lunatic..... so they can basically mint unlimited coin just like dogecoin and US dollars? sounds like the US dollar '20 and '21 Timccopeland 10s of millions minted every min. I think it will reach 30bil supply for $ust to peg

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Shiba Inu About to Surpass Terra's LUNA After Double-Digit Price SpikeMeme coin Shiba Inu is a hair’s breadth away from surpassing Terra (LUNA) after a 10% spike 🚀🚀🚀 This might push it even further 👌 SHIB shiba ShibArmy Shibarium ShibainuCoin Bone Leash UseShibaSwap ShibaLands shibainu SHIBARMYSTRONG SHIBARMY4LIFE SHIBARMY SHIBGAME Shiboshis shibasocialclub SHIBidentity ShibaSwap Shiberse friendshibs shibeans ShibaNFT $SHIB

Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sourcesThe Luna Foundation Guard has held talks with large investors with the aim of raising over $1 billion to shore up UST amid weakening sentiment in the crypto market. fintechfrank fintechfrank fintechfrank Why don't they just buy USDT to back their coin

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