The Binancethe largest stock exchange Cryptocurrency From the world, resumed negotiations on earth moon) It is stable coins EarthUSD (UST) – what or what It was suspended on Friday (13) after the steep drop in the weekwhen prices reached nearly zero.
Earlier, Changpeng Zhao, CEO of Binance, defended the suspension as the “best way to protect users.” [da plataforma] on time”.
He even stated that he was “very disappointed with the way Team Terra handled the UST/LUNA incident”.
Almost all value is lost
Terra (LUNA) lost almost all of its market capitalization in the past week, following the general downturn in the market. Alone, the cryptocurrency turned to dust with a drop of over 90% in 24 hours.
The devaluation of LUNA and the suspension of trading were the consequences of the failure of the Terra protocol – linked to the TerraUSD stablecoin – causing prices to drop.
Earth (Luna): From Success to Disaster
Cryptocurrency Terra (LUNA) has surprised the market since December 2021, when it brought down Avalanche (AVAX) and Dogecoin (DOGE).
With the aim of becoming the main means of payment in the digital environment, Terra consists of a basket of fiat currencies, such as the dollar, the euro, and the yuan.
But, like the failure of the cryptocurrency protocol, all success was in vain. The trading disruption on the world’s largest exchange on Friday (13) means that no transactions with UST, LUNA or other cryptocurrencies can be traded from Terra Network, the project’s integrated ecosystem. With the resumption of negotiations back to normal.
Bitcoin (BTC) and the recovery of other cryptocurrencies
The Terra Network crisis continues, but other cryptocurrencies in the market have managed to recover from the week’s losses, such as Bitcoin (BTC), which is still above $30K.
Ethereum (ETH) is also making a truce in the cryptocurrency market and is back to the $2,000 mark, operating at a high rate of over 5%.
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