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Tag: Terra Calssic Re-Peg

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High
24Apr By OLAJIDE SAMUELNo Comments
Blockchain

Stablecoin Market Surges to $160 Billion, Marking Post-Terra Collapse High

The market capitalization of stablecoins, cryptocurrencies pegged to fiat currencies like the US dollar, has reached $160 billion this week. This milestone signifies a significant recovery for the stablecoin market, reaching a level last seen in May 2022, just before the dramatic collapse of Terra's UST stablecoin. Read Also: Terra Classic Community Revives Network with IBC Restoration Stablecoin Market Booms: Supply Growth Drives Expansion Since December 2023, the stablecoin market has witnessed a substantial increase of $28.63 billion. This surge can be attributed to the rising supply of several dollar-pegged coins, with major players like Tether (USDT) and USD Coin (USDC) experiencing significant growth. Tether, the industry leader, boasts a market cap of $109.9 billion, while USDC...
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Terra Classic Community Revives Network with IBC Restoration
24Apr By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Classic Community Revives Network with IBC Restoration

The Terra Classic ecosystem received a significant boost with the community overwhelmingly approving a proposal to restore the Inter-Blockchain Communication (IBC) link with Kujira. This move is expected to unlock frozen funds and enhance liquidity for the network. IBC Upgrade Secures Unanimous Support Proposal 12099, spearheaded by the RakoffToken team, aimed to re-enable the IBC client 07-tender mint-178 between Terra Classic and Kujira. IBC technology facilitates secure communication between different blockchains, allowing for seamless asset transfers and greater interoperability. Read Also: Massive Shiba Inu Transfer Sparks Speculation https://twitter.com/RakoffLuncVal/status/1781301510724333771?s=19 The proposal received near-unanimous support, garnering a staggering 99.99%...
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From Boom to Bust: A Timeline of the Terra-LUNA Crash and SEC Investigations
10Apr By Kayode Oke MichaelNo Comments
Blockchain

From Boom to Bust: A Timeline of the Terra-LUNA Crash and SEC Investigations

In 2024, cryptocurrencies are again experiencing a bull run, and the Crypto Winter is no longer fresh in everyone's memory except for those who lost a significant amount in 2022. Three Arrows Capital and Coinbase Ventures still remember. Lightspeed Ventures Partners and Galaxy Digital also remember, particularly Galaxy's CEO, Mike Novogratz, who got a LUNA tattoo as a reminder to remain humble when investing. Looking back at the Terra-LUNA crash is essential because it's still unclear who caused it. Read Also: Singapore-based Exchange WEEX Joins Forces with Terra Classic Community to Burn LUNC Tokens In May 2022, the crypto market lost $60 billion due to the failure of TerraUSD, an algorithmic stablecoin, and LUNA, another cryptocurrency. Both were created by Terraform Labs (TFL) ...
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Binance Burns Over 4 Billion LUNC Tokens, Boosting Terra Luna Classic
2Apr By CryptolifedigitalNo Comments
Terra Classic (LUNC)

Binance Burns Over 4 Billion LUNC Tokens, Boosting Terra Luna Classic

In a move hailed by the Terra Luna Classic community, Binance, the world's leading cryptocurrency exchange, executed a significant burn of LUNC tokens on April 1st, 2024. According to LUNC News, the amount burned reached 4.1 billion, pushing the total number of LUNC tokens removed from circulation to over 43 billion. Read Also: XRP Poised for Surge Above $13 on Complex Elliott Wave Pattern, Analyst Claims https://twitter.com/Chot4a/status/1774801984450617554 This burning mechanism aims to reduce the overall supply of LUNC, potentially leading to increased scarcity and a subsequent rise in price. The Terra Luna Classic community has heavily advocated for such measures following the dramatic crash of the original Luna token earlier in 2023. Read Also: Shiba Inu Burn Rate Soars Bu...
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Terra Classic (LUNC) Soars on Upgrade, Burning, and Bullish Sentiment
27Mar By Adaralegbe Tosin MNo Comments
Terra Classic (LUNC)

Terra Classic (LUNC) Soars on Upgrade, Burning, and Bullish Sentiment

Terra Classic (LUNC) has been on a tear in recent weeks, fueled by a confluence of positive developments within its ecosystem and the broader cryptocurrency market. A key driver of LUNC's surge is the successful rollout of the Terra Classic v2.4.2 upgrade. This upgrade introduced critical new components, most notably IBC-Hooks. These hooks pave the way for decentralized applications (dApps) to seamlessly integrate with the Terra Classic chain. The arrival of prominent dApps, like Enterprise DAO, could significantly boost network activity and user adoption. Read Also: Shiba Inu Echoing 2021? Analyst Predicts Potential Price Surge Development Spree Continues Building on this momentum, the Terra Classic developer team is actively working on the network's Security Package upgrade. Sche...
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Terra Luna Classic (LUNC) Price on the Rise: Can it Hit $2 Before Bitcoin Halving?
27Mar By OLAJIDE SAMUELNo Comments
Terra Classic (LUNC)

Terra Luna Classic (LUNC) Price on the Rise: Can it Hit $2 Before Bitcoin Halving?

Terra Luna Classic (LUNC) has been experiencing a surge in price recently, driven by several positive developments within its ecosystem. The rollout of the v2.4.2 upgrade and the introduction of new binary components have paved the way for easier integration of decentralized applications (dApps) and benefited the Enterprise DAO. Read Also: Terra Classic (LUNC) and USTC Surge on News of Do Kwon's Release Recent Price Performance and Historical Context LUNC is currently priced at $0.000161, with a market capitalization of $939.80 million. While it has dipped slightly in the last day, it has seen a significant increase of 34% over the past year. This bullish trend starkly contrasts its all-time high of $119.01 in April 2022, followed by a plunge to its all-time low of $0.00001651 in May ...
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Do Kwon to Face Charges in South Korea After Extradition Battle
21Mar By OLAJIDE SAMUELNo Comments
Blockchain

Do Kwon to Face Charges in South Korea After Extradition Battle

Do Kwon, the founder of TerraForm Labs, is set to be extradited to South Korea to face charges related to the 2022 collapse of the Terra ecosystem. This comes after a Montenegrin appeals court rejected Kwon's attempt to overturn a lower court decision favouring South Korea's extradition request. Read Also: Terra Luna Classic (LUNC) Burns Over 31 Million Tokens in a Single Day Dueling Extradition Requests The United States and South Korea sought Kwon's extradition following his March arrest in Montenegro. Initially, a Montenegrin court sided with the U.S. However, Kwon's lawyers successfully appealed, leading the court to name South Korea as the receiving country. South Korea argued their case was stronger due to the alleged crimes primarily occurring within their jurisdiction. Final ...
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Luna Classic Labs Announces Departure from Terraform Labs (TFL) Over Wallet Issues
12Mar By OLAJIDE SAMUELNo Comments
Blockchain

Luna Classic Labs Announces Departure from Terraform Labs (TFL) Over Wallet Issues

In a significant move within the Luna Classic (LUNC) community, Luna Classic Labs has announced its decision to sever ties with Terraform Labs (TFL) due to ongoing issues with TFL's Terra Station v3 wallet. Mike P., a prominent figure within the community, took to social media to express his frustration and outline the steps Luna Classic Labs will take to distance itself from TFL. Terra Classic To Part Way With Terraform Labs The announcement comes after a prolonged period of dissatisfaction with TFL's handling of the Luna Classic network, particularly evident in the latest release of Terra Station v3. Users reported numerous broken elements when interacting with the Terra Classic network, including governance functions, swaps, and sending transactions. Read Also: Shiba Inu Partner K9...
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Terra Classic Community Pushes for Revival with Network Upgrade and Token Burn
7Mar By OLAJIDE SAMUELNo Comments
Cryptocurrency

Terra Classic Community Pushes for Revival with Network Upgrade and Token Burn

The Terra Classic community is actively working to revitalize the network and its native tokens, LUNC and USTC. A recent upgrade proposal submitted by developer Till Ziegler outlines significant changes aimed at improving functionality, and security, and potentially boosting token values. Read Also: Terra Classic (LUNC) Emerges as Top Gainer, Highlighting Innovative DeFi Approach Upgrade Proposal Unveils Key Improvements IBC Integration and dApp Expansion: The upgrade introduces IBC-Hooks and Package Forward Middleware, enabling the onboarding of decentralized applications (dApps) that leverage IBC-Hooks, fostering a more diverse ecosystem. Enhanced Testing: An End-to-End (E2E) and Interchain Testing Suite is included, facilitating improved testing efficiency and smoother netwo...
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Terra Coins Poised for Bullish Run as Crypto Market Recovers
29Feb By CryptolifedigitalNo Comments
Cryptocurrency

Terra Coins Poised for Bullish Run as Crypto Market Recovers

Terra Classic (LUNC) and Terra Luna (LUNA), both associated with the Terra blockchain, are experiencing a resurgence amid a recovering cryptocurrency market. This news follows a period of consolidation and a previous sharp decline for both tokens. Read Also: Terra Classic: Can a Fallen Giant Reclaim its Glory? Terra Classic (LUNC) LUNC price shows a bullish revival after a significant drop, forming a cup and handle pattern on the daily chart. This pattern suggests a potential breakout toward $0.00021, representing a 60% increase. The recent market recovery, including Bitcoin surpassing $57,000, further bolsters the bullish sentiment. Terra Luna (LUNA) LUNA price mirrors LUNC's pattern, potentially ending its pullback phase. Following a 55% decline, LUNA has seen...
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