The TerraUSD stablecoin has imploded — losing its $1 peg and plunging to lows of $0.68 in the early hours of Tuesday.While UST is beginning to head upwards, it’s continuing to trade like an altcoin right now. At the time of writing, prices stand at $0.915.Most stablecoins, Tether among them, are backed on a one-to-one basis by U.S. dollars that are held in reserve.But UST is an algorithmic stablecoin, meaning incentives are used to keep the asset’s price stable instead.
UST Stablecoin Implodes and Falls to 068, Bitcoin Reserves Liquidated, LUNA Crashes 50
