Information on the suspension of trading in Valor Terra (LUNA) SEK

Terra (colorToken rate and as a result too Valor Terra (Luna) The Swedish krona is down today by as much as 96 per cent compared to last night’s closing price. The reason for this decline in Terra (LUNA) is that the Terra network’s stablecoin Terra USD (UST) has lost its peg, i.e. the exchange rate of 1:1 against the US dollar.

Following a short period of time, the price of UST/USD increased from 1.00 to 0.20, which has direct consequences for Terra (LUNA) given the computationally stable nature of this coin. Terra burn Terra (LUNA) smart contracts when creating new ground tanks. On the other hand, when the floor treasuries are replaced, new Terra (LUNA) coins are minted, increasing the supply of Terra (LUNA). In today’s case, Terra’s algorithm could no longer handle the flow of ground tanks, which eventually led to a kind of bank management on the ground tanks and the loss of pegs.

Due to high volatility and the prevailing uncertainty surrounding the Terra ecosystem, NGM, in consultation with the issuer, has decided to temporarily close the order book for Valor Terra (Luna) Sec.

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