Stablecoin Terra crash, short selling is not attack

It is analyzed that there are a large number of subjects that have caused the stable nose ‘USST’ prices.

The crypto collapse: What the TerraUSD stablecoin collapse could mean for invested firms

After the USST crash, the virtual asset industry was convincing that Wall Street short selling forces were behind. It was a view that it could be a result of the denial of this and not the attack of a specific actor, but the decision of the mass holders.

On the 27th, Blockchain Analysis Platform Nansen released a report that analyzed the onchain data from the 11th after the Divegging occurred before the USST suffered a dipging (fixed value). A total of seven wallet addresses were influenced. Many of them have a large amount of tokens.

According to the report, the subjects with this wallet have withdrawn the USST deposited on the anchor protocol and moved the assets withdrawal to Ethereum using the blockchain bridge ‘Warmhole’. The large amount of USST transferred was exchanged with various stable coins through the Defi ‘Curve’ liquidity pool.

The report analyzed that during the intensification of Terra Digeging, they would have sold various profits using the purchase and selling positions between the Central Exchange (CEX) and the DEX market.

“Use Dipetging can be a result of a number of funds-rich investment decisions,” said Nansen. I may have been drunk. ”