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Terra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra is crumbling.

The blockchain undertaking residence to the favored algorithmic stablecoin TerraUSD (UST), which had just lately change into the fourth-largest stablecoin by market worth however now sits at fifth, is close to collapse as UST repeatedly fails to maintain its $1 peg and LUNA, the blockchain’s native token, nears zero.

Terraform Labs, the tech start-up behind the event of Terra, halted the manufacturing of recent blocks on the community on Thursday “to prevent goverance attacks following severe $LUNA inflation and a significantly reduced cost of attack,” it mentioned on Twitter.


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