LUNA Issuer Terra Halts Blockchain After Week of Losses

The UST stablecoin, which is supposed to maintain price parity with the U.S. dollar, lost its peg over the last weekend, but briefly recovered. It fell again on Monday, dropping to as low as 27 cents but has yet to recover its peg with the dollar. The LUNA governance token, which is meant to act as a buffer keeping UST at $1, has lost value in conjunction, but was only worth less than UST sometime between Wednesday and Thursday.