Luna Briefly Falls Below $2.6, down 39.88% in 24H

Sept 14,2022
KingData News: According to CoinMarketCap data, Luna briefly fell below $2.6, down 39.88% in 24H. In previous news, a South Korean court issued an arrest warrant for Terraform Labs co-founder Do Kwon, according to an exclusive report from Chosun Ilbo.
This indicator provides follow-up on the depg of Terra's stablecoin UST on May 8th. Terra's stablecoin UST briefly lost its peg to the U.S. dollar on May 8th, dipping as low as $0.985. The depeg event came after a series of multi-million dollar UST selloffs as one account traded about $85 million worth of UST for USDC on Curve Finance, while another user reportedly sold $108 million worth on Binance. UST posted a slight recovery shortly after Terraform Labs CEO Do Kwon posted a tweet calling out the stablecoin's critics.