Fox Business journalist Eleanor Terrett believes crypto investors of TRON and USDD stablecoin could have the same fate as Terra’s LUNA and UST cryptocurrency. Investors Keeping Close Eyes on LUNA and UST In a tweet, Eleanor Terrett noted that crypto investors are currently keeping ‘close eyes’ on TRON and USDD especially considering what happened to Terra Luna and UST a few weeks ago. UST de-pegged and went on a freefall, taking Luna with it. The two are yet to recover and may never recover to their previous values. Terrett pointed out that USDD recently de-pegged from the USD, dipping as low as $0.94 while the TRX has dropped over 20% in the past seven days. today while TRX has dropped 20% over the past 7 days. One investor tells me: “Who thought that backing assets with other volatile assets and calling them stablecoins was a good idea? Basic economics principles left at the door, supplemented by crazy 40%+ yields promised — Eleanor Terrett (@EleanorTerrett) June 20, 2022 One investor told the journalist that a crazy 40% plus annual yields protocol is always going to be unstable. Concerning this, she noted: “One investor tells me: Who thought that backing assets with other volatile assets and calling them stablecoins was a good idea? Basic economics principles left at the door, supplemented by crazy 40%+ yields promised that are always going to be unsustainable.” “Have we literally learnt nothing as a space?,” she asks. Coul...
