Terra UST plunges over 35% as post-attack snapshot is taken

Terra UST is successful escaped autumn arsenic the “post-attack” snapshot has been taken astatine block 77990000. The token volition not beryllium a portion of the caller LUNA blockchain but volition persist connected what volition present beryllium known arsenic Luna Classic.

Source: TradingView

Investors look to person bought up UST up of the snapshot, with the terms rising implicit 80% since May 25. However, arsenic soon arsenic the concatenation deed the required block, the terms of the stablecoin fell implicit 35% to a worth of conscionable $0.05. The terms had declined since hitting a highest of $0.11 astatine midnight UTC connected May 26.

The aboriginal of the Luna Classic blockchain is successful uncertainty arsenic aggregate projects bespeak their support for LUNA 2.0. Due to monolithic ostentation successful LUNA caused by UST’s de-pegging, determination are trillions of LUNA tokens connected the Luna Classic blockchain. Almost 10% of the remaining assemblage excavation for UST volition beryllium burnt successful the coming days pursuing an ongoing vote. Yet, without the halfway projects and with a stablecoin down 95% from its designed peg, the aboriginal is bleak for UST holders astatine this time.

Information regarding the LUNA airdrop scheduled for May 27 tin beryllium recovered here.