Crypto Market Rattled as Stablecoin UST Briefly Loses Peg

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The Street

By Rob Lenihan Markets are shaken as the stablecoin TerraUSD briefly lost is dollar peg. The stablecoin TerraUSD briefly lost its dollar peg over the weekend, pulling down its sister token LUNA as well. Cryptocurrency prices were falling Monday alongwith the stock market. Frank Corva, cryptocurrency specialist with Finder, said fears of UST, the algorithmic stablecoin on the Terra blockchain that is pegged to the US dollar, losing its peg circulated online over the weekend, seemingly causing LUNA’s price to drop. LUNA is Terra’s native token and UST is Terra’s stablecoin. Corva said that durin…

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