Luna's fall unnerves Korean crypto investors - The Korea Times
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Korean crypto investors' fear sentiment is reaching its peak after Terra's flagship stablecoin UST, started dropping its intended $1 peg on Monday, in what is seen by many as a "prelude" to the ongoing collapse of its sister token Luna. Luna is traded at around 12,000 won ($9.40) as of Wednesday 3:20 p.m., according to Korea's largest cryptocurrency exchange Upbit. This is a drop of around 50 percent from a day earlier. Up until last week, Luna was valued at more than 100,000 won.
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The Reign of Terra: The Rise and Fall of UST, by Haseeb Qureshi, Dragonfly Research
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