A number of bigger Terra (LUNA) ecosystem investors abandoned their positions as the terraUSD (UST) peg began to slip away last month – with smaller-scale investors continuing to buy as the coin’s price plummeted, according to the trading firm Jump Trading Group’s crypto arm Jump Crypto.
Jump Crypto has issued a postmortem on the depegging of the Terra stablecoin, where it revisited the findings of the blockchain analytics firm Nansen, which had pointed out that “seven” wallets – including one linked to Celsius Network (CEL) – may have played a “critical” role as the dollar peg was lost.
On the “seven,” the report’s authors wrote:
“They indeed represent a rapid drawdown that was mirrored more generally by other large wallets.”
But, they added, while these wallets “did indeed comprise much of the early outflow,” they were actually just “part of a much broader trend.”
The report also focused on the role played by Anchor, a savings, lending, and borrowing platform that operated on the...
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