Chart of The Day: LUNA Burns in 2022
For those unfamiliar with the relationship between LUNA and UST, UST is an algorithmic stablecoin. Each UST minted requires an equivalent dollar amount of LUNA to be burned, with the redemption function of each UST being able to mint $1 worth of LUNA.
UST’s impressive growth of $6.5B in supply YTD has resulted in a continuous burn of LUNA supply, with only six net positive days of supply change in 2022.
