#Terra UST Can't Stay Stable — @idiosyncratic1 on read.cash

@idiosyncratic1 11 May 2022 more from that month

#Terra UST Can't Stay Stable It is quite surprising that the stable coin UST has not been able to peg itself to $1. Back in times when USDN (Neutrino USD) could not stay pegged, it was able to recover within 2 days. However, the market cap and the degree of FUD are, obviously, quite effective in the recovery process. I do not expect to see green days for crypto until UST settles down. Meanwhile, I stay away from #crypto ecosystem as much as possible ✌🏼

+KT
+BCH

2 comments

K@KamHus 11 May 2022

This is vicious cycle with UST, Luna and BTC that drags everything down together. I think Luna foundation should have diversified little bit from BTC as collateral. Luna? Pffft... It's no different than a shitcoin when Bitcoin is being shorted and they need to sell to keep the peg, thus making the cycle happen
C@Cryptosneeze 11 May 2022

Could be an easy win if you trust it'll return to $1