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DOMAINS TOKEN-G

Ronald Maguire

22 May 2022 140 Read Crypto , Bitcoin , Altcoins , Blockchain

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Terra Causes Many Cryptos to Drop

The collapse of the Terra blockchain cryptocurrencies UST and LUNA continues to negatively affect the crypto market. Terra's activities also cause the price of several cryptocurrencies to drop. Terra did the most damage to Avalanche (AVAX). AVAX is down 46.9% from 14 days ago to $29.35.

Terra Has Other Cryptos In Stock

Terra was constantly buying different cryptocurrencies to support the stablecoin UST. The bulk of Terra reserves consisted of BNB, BTC and AVAX. After reports of Terra's problems with South Korea's tax law, the AVAX coin price has slowly started to fall steadily.

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