42 million TerraUSD (UST) was quickly collected by Whale

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crypto whale

The purchase of 42 million UST was made in four large transactions.

According to the data by WhaleStats, over 42 million TerraUSD (UST) has been captured by ETH whales in the last 24 hours. 

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TerraUSD, or UST, is the decentralized algorithmic stablecoin of the Terra blockchain. In the past four hours, 42 million USTs have been made in four major transactions.

The transactions are detailed as follows, the first transaction buys 15.000.000 UST worth $15.060.000, then 9.000.000 UST or $9.036.000, the 3rd purchase buys 10.000.000 UST equivalent to 10.040.000 dollars, gThe fourth transaction buys 8.000.000 UST worth $8.032.000.

During periods of volatility in the crypto market, large investors tend to turn their attention to less volatile crypto assets like stablecoins.

Stronger UST demand will reduce the supply of LUNA. The generation of UST is supported by burning of LUNA, so the price growth of LUNA is closely related to that of UST.

In other words, in order to mint a UST, $1 worth of LUNA must be removed from circulation.

LUNA has steadily increased in market value to become the seventh largest cryptocurrency, trading at $91,65 at press time.

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