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Is there any future for algorithmic stablecoins? -Breaking

May 21, 2022May 21, 2022 by Mike Robinson

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UST aftermath: Is there any future for algorithmic stablecoins?

The aftermath of the UST: Are there prospects for algorithmic stablecoins in the future?

TerraUSD (UST is an algorithmic stabilitycoin pegged at $1.00. It was however, suspended on May 19th. TradeFor $0.083.

This isn’t supposed to happen, of course, but last week UST, along with its affiliated coin (LUNA), performed a sort of death spiral that “wiped nearly $50 billion of investor wealth in a few short days,” according to NYDIG’s May 13 newsletter.