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by djantje 1489 days ago
I don't understand, if $3B in bitcoin is sold to save UST we should also be able to see a equivalent of that $3B in Terra/Luna/UST buys?

I don't understand crypto, and or how the Luna/UST works, but if you supported/buy something this should be visible, not only in vanished bitcoins, or am I mistaken?
3 comments
px43 1489 days ago
It was supposed to be quicker, and automatic, to prevent the collapse, but it's a relatively new system and still under manual control. In theory some set of humans have been tasked with slowly buying more and more UST to build up confidence, and restore the peg. This can't really happen because LUNA is worth basically zero now, but who knows.
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djantje 1489 days ago
Ah, yes, this part I can understand: to late with support and then the UST holders started selling, taking their loss, and in the proces devaluating UST

But the backing of UST(or Luna?) should be visible in soms large/or a lot of transaction in a small time window somewhere, if they started buying/supporting it with $3B, I would think

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netheril96 1489 days ago
The volume of UST and Luna are huge for the past few days. Way more than several billions.
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jallen_dot_dev 1489 days ago
Do we not? Volume of trades was in the billions during the collapse.
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