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Arca Pounces on UST Buying Opportunity After Stablecoin’s Collapse

Arca said Terra’s UST stablecoin will eventually regain its peg.The firm sees this as an ideal buying opportunity.TRON DAO Reserve will increase the USDC and TUSD supply on...
Arca Pounces on UST Buying Opportunity After Stablecoin’s Collapse © Reuters. Arca Pounces on UST Buying Opportunity After Stablecoin’s Collapse

    • Arca said Terra’s UST stablecoin will eventually regain its peg.
    • The firm sees this as an ideal buying opportunity.
    • TRON DAO Reserve will increase the USDC and TUSD supply on TRON by $400M.

Crypto fund Arca is probably one of the many currently suffering considerable fallout after the collapse of the Terra blockchain’s LUNA-powered stablecoin, UST.

This comes after the firm, which manages $500 million in assets, sent out a note on Tuesday telling its partners that it is certain that Terra’s UST stablecoin will eventually regain its peg. The firm concluded by stating that this is an ideal buying opportunity.

In the note, Arca also stated that it held an ad hoc investment and risk committee meeting to discuss the current situation.

On Monday night, UST was well below 63 cents, and LUNA was trading at $24.60.

Arca CEO, Rayne Steinberg, wrote to the investors on Tuesday saying that after analyzing the numbers “we felt, and continue to feel, that UST will ultimately maintain its peg and a number of attractive opportunities had become available.”

Steinberg elaborated on these so-called opportunities when he said that “[they were] able to purchase UST at a significant discount to par in the Digital Yield Fund (DYF) and then deposit with FTX who were paying 100% annual percentage yield (APY) given the buyer/seller imbalance during peak fear.”

Steinberg also touched on the fact that the firm has seen many crises before and this one is no different. Arca “welcomes these opportunities to be buyers when others are fearful.”

In related news, Justin Sun, the founder of TRON, announced in a tweet on May 12 that the TRON DAO Reserve will increase the USDC and TUSD supply on TRON by $400 million ($200 million each).

People’s opinions on the decision seem to be mostly positive. One user even said that the decision could be something the crypto ecosystem can learn from.

Continue reading on CoinQuora

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23-05-2022 08:08:41 (UTC+7)

EUR/USD

1.0583

+0.0023 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (4)

EUR/USD

1.0583

+0.0023 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (4)

GBP/USD

1.2528

+0.0040 (+0.32%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (5)

USD/JPY

127.75

-0.10 (-0.08%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (3)

Sell (3)

AUD/USD

0.7091

+0.0057 (+0.82%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.2803

-0.0033 (-0.26%)

Summary

Neutral

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (3)

Sell (0)

EUR/JPY

135.19

+0.18 (+0.13%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (5)

EUR/CHF

1.0306

+0.0009 (+0.09%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Gold Futures

1,849.45

+7.35 (+0.40%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Silver Futures

21.885

+0.211 (+0.97%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

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Sell (10)

Copper Futures

4.3115

+0.0073 (+0.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Crude Oil WTI Futures

110.91

+0.63 (+0.57%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (9)

Sell (1)

Brent Oil Futures

110.72

+0.73 (+0.66%)

Summary

↑ Buy

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Buy (12)

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Indicators:

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Natural Gas Futures

8.165

-0.235 (-2.80%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (9)

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US Coffee C Futures

216.48

-2.22 (-1.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Euro Stoxx 50

3,657.03

+16.48 (+0.45%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (9)

Sell (1)

S&P 500

3,901.36

+0.57 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

DAX

13,981.91

+99.61 (+0.72%)

Summary

Buy

Moving Avg:

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Indicators:

Buy (8)

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FTSE 100

7,389.98

+87.24 (+1.19%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

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Hang Seng

20,717.24

+596.56 (+2.96%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

US Small Cap 2000

1,773.27

-2.96 (-0.17%)

Summary

↑ Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (7)

Sell (1)

IBEX 35

8,484.50

+78.50 (+0.93%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

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Sell (2)

BASF SE NA O.N.

48.850

-0.010 (-0.02%)

Summary

Buy

Moving Avg:

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Sell (6)

Indicators:

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Sell (1)

Bayer AG NA

63.74

+0.34 (+0.54%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

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Sell (2)

Allianz SE VNA O.N.

195.58

+0.78 (+0.40%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (0)

Adidas AG

172.80

+0.92 (+0.54%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Deutsche Lufthansa AG

6.852

+0.049 (+0.72%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

Siemens AG Class N

115.08

+2.62 (+2.33%)

Summary

Neutral

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (4)

Sell (4)

Deutsche Bank AG

9.362

-0.130 (-1.37%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (8)

Sell (1)

 EUR/USD1.0583Neutral
 GBP/USD1.2528Neutral
 USD/JPY127.75Neutral
 AUD/USD0.7091Buy
 USD/CAD1.2803Neutral
 EUR/JPY135.19Sell
 EUR/CHF1.0306↑ Buy
 Gold1,849.45Sell
 Silver21.885↑ Sell
 Copper4.3115↑ Sell
 Crude Oil WTI110.91↑ Buy
 Brent Oil110.72↑ Buy
 Natural Gas8.165↑ Buy
 US Coffee C216.48↑ Buy
 Euro Stoxx 503,657.03↑ Buy
 S&P 5003,901.36↑ Buy
 DAX13,981.91Buy
 FTSE 1007,389.98Neutral
 Hang Seng20,717.24↑ Sell
 Small Cap 20001,773.27↑ Buy
 IBEX 358,484.50Neutral
 BASF48.850Buy
 Bayer63.74Buy
 Allianz195.58Buy
 Adidas172.80Buy
 Lufthansa6.852↑ Sell
 Siemens AG115.08Neutral
 Deutsche Bank AG9.362Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,880/ 6,980
(5/ 5) # 1,780
SJC HCM6,895/ 6,985
(0/ 0) # 1,786
SJC Hanoi6,895/ 6,987
(0/ 0) # 1,788
SJC Danang6,895/ 6,987
(0/ 0) # 1,788
SJC Nhatrang6,895/ 6,987
(0/ 0) # 1,788
SJC Cantho6,895/ 6,987
(0/ 0) # 1,788
Cập nhật 23-05-2022 08:08:43
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ↀ Giá vàng thế giới
$1,851.93+5.250.28%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V30.58031.190
RON 95-III29.98030.570
E5 RON 92-II28.95029.520
DO 0.05S26.65027.180
DO 0,001S-V27.45027.990
Dầu hỏa 2-K25.16025.660
ↂ Giá dầu thô thế giới
WTI$110.23-0.53-0.48%
Brent$111.03-0.49-0.44%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.005,0023.315,00
EUR23.899,8625.238,69
GBP28.277,1029.483,51
JPY176,47186,83
KRW15,8019,25
Cập nhật lúc 08:03:09 23/05/2022
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