Because, Founder of Terra creator Terraform Labs, tweeted on Tuesday: “Close to announcing a recovery plan for $UST. And He Hangs tight On His Words.”
He added on Wednesday: “I understand the last 72 hours have been extremely tough on all of you – know that I am resolved to work with every one of you to weather this crisis, and we will build our way out of this.
I am not sure how they will be recovering from a situation like this. Their project plan was almost solid proof and the team was able to convince the investors and they had a lot of dedicated investors and a correction exposed their algorithm based stable currency.
Terra is trading at $0.0001137 and UST is trading at $0.1658 and it is an almost impossible task to make a recovery from this position.