Terra (LUNA) Hits Below $10, Is the Price Heading Towards Zero ‘0’?
Terra’s (LUNA) price is plunging very hard amid the deep bearish market sentiments towards the crypto. The price quickly slashed more than 90% in just 2 days, heading firmly towards 0. On the other hand, the stablecoin UST tanks by more than 50% trading below $0.5, indicating the possibility of getting the rug pulled.
The UST lost its ped a couple of days before, and in the wake of stabilizing it, the Terra executives dumped their entire BTC reserves. This led to the star crypto crashing below $30,000 and compelling it to maintain the same levels. Currently, the LUNA price is in extreme danger as the bears are powerfully headed to drag the price close to 0.
While some believed that traders may quickly jump in to accumulate a huge bag of UST at an extremely discounted price, it appears that the traders are no longer interested to burn their investment. Therefore, the prices of both Terra(LUNA) & UST stablecoin are falling mercilessly and may continue until it reaches the final destinationSource