Good morning from the Binance OTC desk!
Chaos continues as Terra’s algorithmic stablecoin is still experiencing extremely high levels of volatility as it lost its peg from USD. Yesterday UST saw lows of 0.6059 and after making somewhat of a recovery back up to 0.94, it almost immediately sold off this morning hitting new lows of 0.225. $LUNA a coin which seemed to be almost impregnable to the bear market has lost over 90% of its value within a few days, a sight that no one expected to see. At the moment the future of Terra’s ecosystem seems uncertain as it all collapsed within itself, lets see what Do Kwon has to say and if he has any plans to do what almost seems impossible right now, save Luna.
Currently BTC is trading within a downtrending channel on the 15M chart, after an extremely red week 30k has held up nicely as a strong level of support on the higher time frame. Moving forward the bulls will need to see this level hold if we are to expect any signs of a reversal to take place. As always with unexpected events, volatility creates opportunities both in the short and long run, please do get in touch with the OTC desk if we can help buy or sell any coins. Stay safe!
@TylerBinance
[email protected]Note: We will be moving this channel in the very near future, please keep an eye out for updates!
