According to market capital USD, the third largest stablecoin (UST), appears to be in a severe tailspin that has seen it drop as low as $0.67 per May 10, after being de-pegged from the dollar.

With Terra, its market capitalization has also fallen with its declining priceLUNA) which backs the majority of the value of UST. UST’s market capital has surpassed LUNA by a large margin, leading to intense scrutiny from crypto-communities.