Stablecoin Terra’s broken dollar peg hits wider crypto markets

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – TerraUSD, the world’s fourth-largest stablecoin, lost a third of its value on Tuesday, spooking cryptocurrency investors and partly contributing to bitcoin’s tumble below $30,000 for the first time in 10 months. Stablecoins are digital tokens pegged to the value of traditional assets, such as the U.S. dollar. They are popular as safe-havens in times of turmoil in crypto markets and are a common medium of exchange, often used by traders to move funds around and speculate on other cryptocurrencies. TerraUSD, a so-called algorithmic stablecoin that is currently …

Read More

Recent Posts