Terra NEWS Archives - Page 2 of 3

New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?

9Jun

By CryptolifedigitalNo Comments

Cryptocurrency

New Terra Luna Classic (LUNC) Burning Proposal Gets 80% Votes In Favor, Will It Be Implemented?

A LUNC investor has fielded a proposal to burn tokens and cause a sharp spike in price. For some time now, the Terra community has complained that Do Kwon and Terraform Labs have left LUNC and UST. A previous demand by the community for TFL to implement a LUNA burning mechanism was rejected, and Do Kwon and his team instead elected to create Terra 2.0. Currently, another proposal by a LUNC investor is causing ripples within the community and the crypto market. The proposal suggests a straightforward LUNC burning mechanism that will lead to a decrease in supply and a price increase. Read Also: Binance To PayPal Short Guide: How To Transfer Crypto From Binance To PayPal The LUNC Burning Mechanism As stated by the proposal, a 1.2% tax/burn will be implemented on all LUNC tra...

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

7Jun

By CryptolifedigitalNo Comments

Cryptocurrency

Terra Classic Holders Spikes 500% In A Month As Investors Bet On LUNC Recovery

Following the downfall of Terra (LUNA) and its subsequent relaunch as LUNA 2.0, the platform’s original chain, which is presently working under the name Terra Classic (LUNC), is garnering an incredible amount of attention among crypto traders. CoinMarketCap statistics indicate that Terra Classic is the second most-searched cryptocurrency on the site as of June 7th out of all the cryptocurrencies after LUNC was the most digital asset earlier on June 3rd. Read Also: Shiba Inu-Themed Burger Joint Shares More Details About Recent Exploit And Shiba Inu Might Soon Get a Utility Boost. More also, interest among investors is highlighted by the overall number of the unique addresses that hold assets in the network in the last month; on May 9th, there were 1,642 holders compared with ...

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

3Jun

By Cryptolifedigital2 Comments

Cryptocurrency

New DEX Platform Wants To Burn Terra Luna Classic (LUNC)

After Do Kwon and Terraform Labs refused to yield to the community calls to burn LUNA instead of creating a whole new Chain, all seemed to be calm, until now. It so happens that not everyone was happy with Terraform’s game plan of not burning the tokens. Presently, a team of developers has come up with a seemingly perfect solution of their own – launching a community-based DEX with the basic aim of burning lots of LUNC (Luna Classic). For maximum effect, the platform will be called “Burning DEX.” Read Also: Ethereum Beacon Chain Releases on a New Testnet in Preparation for Upcoming Merge Facilitate Burning Of LUNC There are currently close to 7 trillion LUNC tokens minted, and this huge number has greatly contributed to the troubles plaguing the Terra ecosystem. Burning DEX...

ChangeNOW all Ready to support LUNA 2.0 and LUNC

2Jun

By Cryptolifedigital2 Comments

Cryptocurrency

ChangeNOW all Ready to support LUNA 2.0 and LUNC

Instant crypto exchange service ChangeNOW permits for swapping LUNA—the coin of the new Terra 2.0 blockchain, as well as LUNC, the old mainnet’s token. As UST and the authentic version of LUNA crashed this May, the crypto industry was observing forward to a way out that would usher new life to the Terra blockchain. On May 16th, Terra co-founder Do Kwon suggested introducing the Terra Hard Fork, and the election process kicked off. On May 28th, the new Terra 2.0 blockchain went live. Read Also: Cardano Founder Shares Key Inputs into Project's Development Thousands of crypto enthusiasts who had lost faith in Terra were reassured by the team’s efforts to recover LUNA. Earlier in May, UST, the key stablecoin in the Terra ecosystem, lost its peg to the US Dollar after the Anchor proto...

Terra Luna 2.0 Recovers Over 100% In 24 Hours, Here’s The Reason

31May

By Cryptolifedigital2 Comments

Cryptocurrency

Terra Luna 2.0 Recovers Over 100% In 24 Hours, Here’s The Reason

Terra’s LUNA 2.0 token rallied sharply in the last 24 hours after the blockchain said it will rectify certain shortfalls in its recent airdrop. LUNA spiked as much as 100% to reach an intraday high of $11.97, from a low of $5.86. The token is now trading at $8.57- up 40% in the past 24 hours, according to data from Coinmarketcap.com. The token’s rally was triggered just after Terra said on its official Twitter handle that it is actively working towards ensuring its recent airdrop is correctly distributed. Read Also: Shiba Inu Founder Disappears From Social Media – Gone ‘Without Notice’ https://twitter.com/terra_money/status/1531410663674888192 The move is in response to several holders complaining that they received less LUNA from the airdrop than they wer...

Can Terra’s LUNA 2.0 price pump back to $30?

30May

By Cryptolifedigital3 Comments

Cryptocurrency

Can Terra’s LUNA 2.0 price pump back to $30?

LUNA 2.0 price is consolidating below the midpoint of the recently formed trading range after the airdrop from last Saturday. Investors are advised to remain patient and wait for a directional bias to develop before getting into new trading positions. Read Also: $XRP: RippleNet General Manager: We Have Bigger Ambitions Than Replacing SWIFT How the TerraUSD (UST) de-peg crash transpired Trouble and doubt first began for LUNA when Terraform Labs founder Do Kwon made a public bet of $1 million with a Twitter user Algod that the price of LUNA would be higher than on the date of the bet, March 14. https://twitter.com/AlgodTrading/status/1503103705939423234 Soon after GCR another Twitter user joined hands with Algood and ponied $10 million for the...

Terra Goes Live With New Blockchain and LUNA Airdrop

28May

By Cryptolifedigital1 Comment

Blockchain

Terra Goes Live With New Blockchain and LUNA Airdrop

The blockchain went live with an airdrop of new LUNA tokens earlier this morning. The new Terra blockchain is live. Terraform Labs took to Twitter today to confirm that the new network had started producing blocks. It was released at 06:00 UTC, accompanied by a token airdrop for previous LUNA and UST holders. Read Also: Terra to burn 1B UST from the community pool as holders vote for it https://twitter.com/terra_money/status/1530432065585528834 The new blockchain release is an attempt to salvage what remains of the Terra community in the wake of the blockchain’s stunning collapse at the onset of this month. Terra’s algorithmic stablecoin UST previously debugged from the dollar on March 8th, sending its associated token into a death spiral. A few days ago, UST was tr...

Terra to burn 1B UST from the community pool as holders vote for it

27May

By Cryptolifedigital1 Comment

Cryptocurrency

Terra to burn 1B UST from the community pool as holders vote for it

In the quest to support the revival of Terra (LUNA), the community voted to burn a large amount of UST from its community pool. Earlier in May, the Terra founder Do Kwon explained that a potential solution to the Terra debacle is to absorb the stablecoin supply. In response to this, users proposed the burning of the 1 billion TerraUSD (UST) that was stored in Terra’s community pool and the remaining cross-chain UST that’s deployed on the Ethereum blockchain as incentives. Read Also: Charles Hoskinson stresses Cardano’s focus on doing only regulated business As stated by the proposal, the burn will help “reduce the outstanding bad debt of the Terra economy.” Apart from this, it’s also expected to play a significant part in restoring the UST dollar peg by eliminating a big chunk of ex...

Crypto Developers Show Commitment To Enhance Terra (LUNA) Spike From The Ashes

26May

By Cryptolifedigital1 Comment

Cryptocurrency

Crypto Developers Show Commitment To Enhance Terra (LUNA) Spike From The Ashes

Speaking on the Terra network’s demise has been greatly magnified. At least, that is what the LUNAtics will want to believe as multiple developers pledge to do their part to help the ecosystem on its journey to regaining its feet. Read Also: 68 Million DOGE Acquired by BNB Whale as Dogecoin Recovers as Most Frequently Bought Asset Developers Respond To Kwon’s Call The Terra ecosystem came crashing down like a house of cards on May 9. TerraUSD (UST), the algorithmic stablecoin supposed to provide the decentralized funds that Do Kwon believed the DeFi ecosystem badly needed, failed to live up to its billing. Things took an unexpected turn as the algorithmic stablecoin lost its peg and brought the Terra ecosystem to its knees. Its vulnerability to investors became clear, with ...

Terra 2 Testnet Goes Live, Mainnet Launch With Airdrop To Follow

25May

By Cryptolifedigital2 Comments

Cryptocurrency

Terra 2 Testnet Goes Live, Mainnet Launch With Airdrop To Follow

The Terra network’s testnet for Terra 2 has gone live, as stated by the tweet by Orbital Command. A mainnet release will take place on May 27, which will be accompanied by an airdrop. The testnet and airdrop are part of a revival plan that Terraform Labs and co-founder Do Kwon have put together. Read Also: Polkadot Collaborates With Frank McCourt’s Project Liberty to Democratize Social Media Data https://twitter.com/orbital_command/status/1529175192928411650 The native asset for Terra 2 will be called LUNA and four groups will be eligible for the reward: pre-attack LUNApre-attack USTpost-attack LUNApost-attack UST Eligible holders will receive 30% of the airdrop on May 27, followed by the remainder vested linearly over two years with a 5-month cliff. Terra 2 is a new b...