Why Maker's DAI Is Surviving Even After Collapse of Terra's Decentralized Stablecoin

Last week's stablecoin failures were the talk of the town, with UST biting the dust and USDT also briefly losing its dollar peg.

Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to ‘$138K’ in UST

All bets are off as volatility takes complete hold of Terra’s tokens and a return to a US dollar peg seems nowhere in sight. Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding crypto assets.Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, Terra (LUNA) and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day.A dubious new “all-time high” for BitcoinAfter a mass sell-off, which some argued was “coordinated” to destroy the Terra ecosystem, UST lost its peg to the United States dollar.Attempts to shore up the peg when both LUNA and Bitcoin (BTC) reserves failed, and as uncertainty gripped the market, both UST and LUNA dived to levels unimaginable just days previously.Getting close ...

As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93

As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours.