After Terra’s stablecoin, UST, which should be equal to one dollar, fell below 1 dollar, the 5% decrease in the stablecoin USDT with the highest market value caused a 710 million dollar sales movement in whales.
Tether’s stablecoin, USDT, fell by nearly 5% with the crisis created by the stablecoin, which was traded at $0.10 at the time of writing, with the UST falling below $1 in the past days.
According to Sentiment’s data, during the decline, $ 710 million USDT sales of whale wallets were carried out. It is predicted that the whales made this sale because of the fear that USDT will enter a crisis similar to the UST and they may face a scenario similar to the decline experienced by USDT in 2018.
In a statement, Setiment stated that this move is the largest single-day sale among wallets with $100 and $10 million USDT.
The stablecoin crisis is picking up as LUNA is devalued, delisted from exchanges and UST is left behind after these developments. While USDT, which fell during the crisis, recovered its price again, Binance’s stablecoin BUSD, which rose above $ 1, has also reached the level of $ 1 again.
