What speculators have to do with the Terra crash

Dusseldorf What triggered the crash of the tokens UST and Luna on the crypto market is still unclear. The crypto project Terra, to which both tokens belong, speaks of an attack. In the scene it is suspected that speculators on a large scale have bet on falling prices and thus triggered the crash. Comparisons are already being drawn to the early 1990s, when star investor George Soros successfully bet on a collapse of the British pound.

Such a bet against Terra would be possible through the connection between UST and Luna. Because the course of the stablecoin UST should be kept constant by the second Terra token Luna. UST can be exchanged for Luna at a fixed exchange rate at any time on the Terra blockchain, i.e. within a closed system.