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Benzinga
Benzinga
Business
Samyuktha Sriram

Terra (LUNA) Crashes 45% As UST Stablecoin Massively Loses Peg Again

UST Terra LUNA United States Bitcoin Do Kwon blockchain

The native token of the Terra (CRYPTO: LUNA) blockchain crashed 56% over 24 hours as its stablecoin, TerraUSD (CRYPTO: UST), lost its peg for the second time in 48 hours.

What Happened: According to data from Benzinga Pro, LUNA fell from an intra-day high of $64.62 to an intra-day low of $28.03. LUNA has lost more than 65% of its value since the weekend.

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