Post
Topic
Board Altcoin Discussion
Re: ELI5: What happened to UST and why it happened?
by
meanwords
on 11/05/2022, 09:24:50 UTC
Wtf ust now $0.5 and luna $5.
What is really happening??
why does this panic continue?
unfortunately because of this the crypto market has almost all experienced a decline.
I feel that there is no future for the terra ecosystem.

UST isn't backed by anything hence the price right now. Since they sold their Bitcoin (Their only asset that supports UST & LUNA), it's only a matter of time before it goes to $0.