Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to ‘$138K’ in UST

Cointelegraph

Published May 11, 2022 04:50AM ET

Updated May 11, 2022 06:40AM ET

Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding crypto assets.

Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, Terra (LUNA) and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day.

UST/USD 1-hour candle chart (Bitstamp). Source: TradingView
LUNA/USD 1-day candle chart (Binance). Source: TradingView
BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

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