Bitcoin?s value nears $30,000 mark as Luna Foundation Guard liquidates wallet
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Bitcoin
Cubic Analytics
TechCrunch
UST
LUNA
Luna Foundation Guard
LFG
dYdX
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Terra
adoption?Terraform Labs
TIE
Melnick
NFT
Geode Finance
LP
Anchor
USDT
UST de-
DAI
USDC
BTC
People
Caleb Franzen
Terraform Labs
Corey Miller
Do Kwon
Jack Melnick
Simon Furlong
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negative.”Again
Summary
Similar to Melnick’s sentiments, if the UST peg can’t be trusted, “we’ll see a flight to safety, as users will sell UST for more trusted stable coins like DAI, USDC, etc., which stand to benefit from a scenario in which UST loses its peg,” Furlong added.UST is currently priced at $0.963392, according to CoinMarketCap at the time of publication.“With the LFG essentially forced to liquidate BTC to stabilize the stablecoin, we have a major institution dumping thousands of BTC into the market,” Franzen said.
As said here by Jacquelyn Melinek