Do you see the market going bullish again in the next few months? ๐ฅฒ๐
Terraform Labs (TFL) โ the organization behind UST, cryptocurrency LUNA, and Luna Foundation Guard (LFG) โ emptied its treasury wallet of all of its bitcoin, about 42,530 bitcoin, which roughly equalled $1.8 billion at the time of the sale. The UST stablecoin has lost its 1:1 dollar peg ratio for the second time in the past three days and dropped as much as 5.3% to 95 cents on Monday, when it should be always held extremely close to $1. The depegging of UST is forcing LFG to liquidate reserves from both LUNA and bitcoin in order to correct the pegging of UST to $1.
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๐ฅ cryptocommentary/TT
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