The Fall of UST: Should Stablecoins be more regulated?

What happened to Terra Luna & UST?

The Crypto Space almost never failed to remind us that just because everything looks great at present time, it doesn’t mean it cannot come crashing down the next moment and this is exactly what happened to UST. Terra was at the peak of its growth with reserves and adoption increasing at a rapid pace reaching the top 5 in CMC rankings but it came to nothing in less than a week.

Source: https://coinmarketcap.com/currencies/terrausd/

More Regulations on Stablecoin….

Stablecoin, whether its decentralized or centralized, serves its function in the crypto space as both a safe haven and currency but with its growing popularity it somehow leaves question as to why it is usually left unchecked sometimes. Yes the Market Cap of Stablecoins of $130 Billion still is far from its volatile counterparts but as we learn from the UST case, it can leave a massive blow to the crypto space when it crashes.

Source: https://coinpedia.org/news/why-crypto-stablecoin-crashed-what-can-traders-expect-next/

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Nagaya Technologies

Nagaya Technologies

NAGAYA (NGY) is a Gold-Backed Cryptocurrency with Subsidiary Projects. We aim to build Trust and Value through LEGALITY and TRANSPARENCY. https://nagaya.co/