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.Read more: The Block »
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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
BREAKING: Terra’s LUNA Tumbles Below $10 Amid Catastrophic Sell-OffTerra's LUNA has slumped into single-digit territory after a massive sell-off Sad 🥴
Technical Analysis: BTC, ETH, NEAR, SOL, LUNA, FTM (May - Week #2) | CoinMarketCapA new weekly candle, so far not looking good for the bulls 🐂 CoinMarketCap analyzes the movements of $BTC, $ETH, $NEAR, $SOL, $LUNA and $FTM in the 4-hour time frame. Really? , is BNB a joke to you? Luna price is 11$ now Can you analyzes bitgertbrise the movements?
Terra blockchain token LUNA falls below $15The price of LUNA, the governance token of the Terra blockchain ecosystem, fell sharply on Tuesday. 😬 Buying in the single digits So $Luna was a big Ponzi
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
Binance temporarily suspends LUNA, UST withdrawals citing network congestionMajor crypto exchange Binance temporarily suspended the withdrawals for Terra and UST on Tuesday. Does this betray the crypto community’s inherent values of decentralization? (Reporting via Arijit_4)