Stablecoins are struggling to survive the crypto crash

Illustration by Alex Castro

It’s been a crushing few days for the Terra project, in a week that has been unforgiving for cryptocurrency as a whole.

Over the past few days, the TerraUSD (UST) stablecoin, which is meant to maintain a dollar peg, uncoupled dramatically from the $1 mark and dropped to a low of less than 30 cents on May 10th. In the latest update to the saga, the beleaguered project put its entire blockchain on halt for around two hours on Thursday, freezing user funds until the blockchain was unpaused.

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Author: AliensFaith
HighTech FinTech researcher, university lecturer & Scholar. He is studying his second doctoral degree at the Hague International University. Studying different fields of Sciences gave him a broad understanding of various aspects of life. His recent researches covered AI, Machine-learning & Automation concepts. The Information Technology Skills & Knowledge gave his company a higher position over other regional high-tech consultancy services. The other qualities and activities which can describe him are a Hobbyist Programmer, Achiever, Strategic Thinker, Futuristic person, and Frequent Traveler.
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