price: $.67 during the time of the post
https://www.coingecko.com/en/coins/terra-usdDoes anyone know why its losing its value? I havent dived into terra because i am not interested on the project. Im glad, I didnt since i think TerraUsd and Terra affect each other.
I think terra will be exposed a project that is just a big ponzi scheme.
I am not invested into Terra myself but i still remember that few weeks ago Terra was pumping pretty hard and overall the performance of this coin was very impressive as it went from below 1 USD to over 100 USD in a hear and a half. I also don't really know how the mechanics behind UST are working but i would guess that if the sell pressure is just to much at a given time the price will drop and of course once it starts dropping people will become nervous and also begin to sell which makes it even worse of course. There was a similar issue with USDN (USD Neutrino from the waves platform) a few weeks ago but now it has stabilized again and i think it will be the same for UST.