Luna UPS Lowe's CAT Luna

LUNA, LUNC investors may experience some distress due to this update

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A piece of proposed legislation in the House of Representatives would put a two-year moratorium on creating algorithmic stablecoins.

According to Bloomberg’s latest version of the legislation, it would be illegal to create or issue new “endogenously collateralized stablecoins.” With the cat out of the bag, how are the two infamous stablecoins holding up?

Let’s find out…As of 20 September, Terra Classic [LUNC] opened at $0.000311 and closed at $0.000301, experiencing a loss of 3.12%.

In the same trading period, it experienced a high of $0.000314 and a low of $0.000283. The support had been holding well at $0.000233.

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