current position:Home>Such as the free fall, the controversial stable currency ust (linked to the US dollar) plummeted

Such as the free fall, the controversial stable currency ust (linked to the US dollar) plummeted

2022-05-14 21:33:31Sina Finance blockchain

   Block heavenly eye : Fall like a free fall The controversial stability currency UST( Linked to us dollar ) tumbling

   From a troubled encryption project Terra The two main tokens fell freely on Wednesday .TerraUSD(UST) Fell to 26 cents . The so-called stable currency is designed to maintain a balance with the US dollar 1:1 The hook of . according to Coinbase The data of , Its latest trading price is about 47 cents .

   Its sister token luna Once it fell short 90 cents , Then it rebounded slightly , to 2.77 dollar . in the past 7 In the day , Bitcoin lost about 96%, The current market value is lower than the stable currency .

   Blue chip tokens bitcoin and Ethereum fluctuated sharply throughout the day , Traders monitor UST The decline and higher than expected 4 Monthly inflation data . Bitcoin has recently risen 1%, to 31,377 dollar , Had previously fallen below 30,000 dollar . Ethereum fell 1%, to 2309 dollar .

   A stable currency is similar to a bank account in a crypto economy , Provides a reliable way to store value , To avoid the volatility of cryptocurrencies such as bitcoin —— At least in theory .

  UST It's called “ Algorithm ” Stable currency . It uses a complex system of casting and burning tokens to adjust supply and stabilize prices . lately , Under the pressure of cryptocurrency selling ,UST The price of , Cause further panic in the market .

   The creator of this coin made a final effort , By improving the daily casting of new luna The speed of , Give Way UST go back to 1 The pegged exchange rate of the US dollar . The company is actually allowing its supply of stable currency to be consumed , It hopes this will push up prices .

   Quan Yongzhe said on twitter Wednesday :“ I know the past 72 Hours are very difficult for all of you , I am determined to go through this crisis with each and every one of you , We will come out of the crisis .”

   Investors had hoped for new capital injections to boost the project . As report goes ,UST Supporters are seeking to raise more than 10 Billion dollars to support the stability currency .

   Cryptocurrency exchange Luno International head of Vijay Ayyar Express ,Kwon Your statement did not inspire confidence .

  Ayyar call ,“ They let the system bleed too much , Hope to be ‘ excess ’ Of UST When the supply runs out , The system will return to normal .”

  Kwon Through him Luna Foundation Guard The fund has accumulated billions of dollars worth of bitcoin , To support in times of crisis UST. The worry now is ,Luna The foundation guards put these bitcoins on the market , Leading to a bigger sell-off .

   Wednesday , Bitcoin once fell below 3 Thousands of dollars , This is the second time in a week that it has fallen below this level . As investors worry about rising inflation and slowing economic growth , Fleeing risky assets , The world's largest cryptocurrency since last year 11 It has fallen since its all-time high in January 50% above .

   Algorithmic stability is still a relatively new phenomenon . but UST Has grown into a major player in the crypto economy , Circulation supply 160 Billion tokens .

  CryptoCompare Research analyst David · Moreno · Darrocas (David Moreno Darocas) Express , This situation highlights UST Such an algorithm stabilizes the currency “ Vulnerability ”. He said :“UST Has grown into an integral part of the crypto ecosystem , But there is also controversy .”

The heavenly eye reminds : Before making a deal , Be sure to review the qualification of the platform and the information on the official website , In case of being cheated , In case of financial problems or fraud , Evidence shall be collected immediately and the police shall be informed , At the same time, expose rights protection !

editor : Zhang Jingdi

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