Terra Plummits amid TerraUSD instability
TerraUSD on Monday fell below it's $1USD peg, something unheard of for a backed stablecoin. This instability resulted in its governing currency, Terra (LUNA) dropping more than 50% in less than 24 hours.
Prices for Terra have dropped below $30 for the first time in many months. It is expected the price for Terra to continue being volatile until the price of TerraUSD is back to its $1 peg.
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