Terra NEWS Archives - Page 3 of 3

278 Million LUNA Burned Since Do Kwon Posted Burning Address

24May

By Cryptolifedigital1 Comment

Cryptocurrency

278 Million LUNA Burned Since Do Kwon Posted Burning Address

On May 21st, Do Kwon, the CEO and founder of the now infamous Terra posted in a Twitter conversation a dead wallet address, where people can send their LUNA tokens for burning. The tweet quickly became one of Do Kwon’s most engaged-with tweets, and the posted wallet very rapidly received almost 280 million LUNA tokens. Read Also: Dogecoin Creator taught Binance CEO on History of Cryptocurrency Market https://twitter.com/stablekwon/status/1528004028851859456 The total amount of LUNA sent to the burning address is up to 289 million, with the total number of transactions at 2,719, which means the average number of tokens sent to burn in a single transaction is about 107,000 LUNA. This narration was also not without another round of foolishness. Two days later, after the pu...

Terra (LUNA) Trading Volume Spike 200% as Market Correct To a Death Spiral

15May

By CryptolifedigitalNo Comments

Cryptocurrency

Terra (LUNA) Trading Volume Spike 200% as Market Correct To a Death Spiral

Despite the risk in Terra’s trade, Terra’s insane volatility still serves as an attractive market for many short-term investors – majorly because LUNA momentarily gained 600% in value on May 14th. It required just 7 days for the Terra (LUNA) ecosystem to spiral down as prices came crashing from $85 on May 12th. As the market slowly got clarity on what transpired, the trading volume of LUNA witnessed a steep recovery roughly above 200% over the weekend. Read Also: Ways To Avoid Whales From taking Over Staking Discloses By The C0-Founder, Vitalik Buterin Because of UST de-pegging which crashed the LUNA market, LUNA investors reflected the price dip as CoinGecko recorded the decline of trading volumes to $178.6 million recorded the fall down of trading volumes to $178.6 millio...

Jack Dorsey Highlights Reasons The Bitcoin Will Spike In The Long Term

14May

By Cryptolifedigital1 Comment

Bitcoin

Jack Dorsey Highlights Reasons The Bitcoin Will Spike In The Long Term

Billionaire and supporter of Bitcoin Jack Dorsey, who co-founded Twitter and was its chief executive until 29th November last year, has taken to Twitter to share reasons he believes that Bitcoin will again rise in the future after the late spike. Read Also: Cardano, Dogecoin, Shiba Inu Post Double-Digit Gains as Market Rebounds Jack is aware of what will push BTC up again Jack responded to a tweet from Tom Philpott – the author of the “Military Update” column in US media and author of a few non-fiction books. Philpott rebuked Dorsey that rather than watching and commenting “Bitcoin burning” at the moment, Jack has been tweeting about rapper Kendrick Lamar, his new album, and the upcoming tour to support it. Dorsey responded that he is not looking at the present collapsing Bitc...

BNB Spikes 33% Within 24 Hours as Crypto Market Starts to Regain: Here Are Likely Reasons

13May

By Cryptolifedigital3 Comments

Cryptocurrency

BNB Spikes 33% Within 24 Hours as Crypto Market Starts to Regain: Here Are Likely Reasons

Binance Coin (BNB) has displayed a spike of 33% since yesterday, and the head of Binance, CZ, noted it in his recent tweet, typing "BNB." In the meantime, the transaction volume on the BNB Chain has soared to a high last seen nearly half a year ago. XRP, ADA, and SOL have also recovered to within 15-20%. Image via TradingView Read Also: APE Spike 70% in 2 Days Thanks to Metaverse Teaser BNB recovers by 33% as its transaction volume soars Since last morning, the native cryptocurrency of the Binance exchange, BNB, ranked fourth on CoinMarketCap, has added a whole 33% to its market value. At press time, the coin is trading at $305, climbing from $230 to that level. Before that, on April 20, BNB began to decline from the $428 zone, reaching a low of $227 on May 12....

Terra (LUNA) Displays Big Breach in “Buy the Dip” Concept: Peter Schiff

13May

By Cryptolifedigital1 Comment

Cryptocurrency

Terra (LUNA) Displays Big Breach in “Buy the Dip” Concept: Peter Schiff

CEO of Euro Pacific Capital and gold investor Peter Schiff has taken to Twitter to comment on the recent collapse of LUNA to zero. He has likened Bitcoin to Terra and said that LUNA has compromised the "buy the dip" concept for the whole cryptocurrency market. Read Also: XRP Rebounds 20%, Ripple's Answer to SEC Assertions Over Hinman Emails Expected Today "This can happen to any crypto" Schiff tweeted that the case of Terra's LUNA and its stablecoin, UST, which lost its peg recently (and the Terra blockchain has been halted) has provided a great example of why investors should not buy the dip of cryptocurrencies. He pointed out that on May 12, LUNA plunged 98% from its recent peak of $116. He addressed the tweet to those who rushed to buy LUNA on the dip and ...

<strong>Terra Initiates Proposal to Burn Remaining UST</strong>

12May

By CryptolifedigitalNo Comments

Cryptocurrency

Terra Initiates Proposal to Burn Remaining UST

A new proposal with additional points added to Do Kwon's initial rescue plan for UST was presented on May 12. Do Kwon is the CEO of Terraform Labs. https://twitter.com/stablekwon/status/1524331171189956609 The proposal, named "Agora," initiated under the number 1164 on Terra Station, is concentrated on adjustments to mint and burn parameters of UST—Terra's infamous decentralized Algo stablecoin. Read Also: Ripple CEO Says SEC Case Could Resolve This Year The voting is currently underway, with total votes numbering 452.31 million (out of 515.46 million) distributed as 62% in favor, 36.82% abstained and 0.57% of votes are mixed "no" and "no with a veto." The main points of the suggested plan are to increase the BasePool from 50 millio...

Terra Bypasses Tesla As It Becomes The Second-largest Corporate Holder Of Bitcoin

6May

By Cryptolifedigital2 Comments

Cryptocurrency

Terra Bypasses Tesla As It Becomes The Second-largest Corporate Holder Of Bitcoin

Luna foundation Guard (LFG) has become the second-largest corporate Bitcoin holder, bypassing e-car maker Tesla.The non-profit behind UST, the largest decentralized stablecoin, recently purchased another $1.5 billion worth of Bitcoin via an over-the-counter deal with full-service digital currency prime broker Genesis and Crypto trading and venture capital firm Three Arrows Capital. Read Also: 130.5 billion SHIB To Grab By the 1 Trillion Whales.The LFG now holds 80,393 coins whose total value stands at $2.9 billion. As Stated by Cryptolifedigital, Terra started buying Bitcoin in late February to ensure the stability of the TerraUSD (UST) token, which is supposed to maintain its dollar peg.Terra's Do Kwon expects that the non-profit’s Bitcoin holdings will eve...

Terra’s Stablecoin Added as Base Currency to Binance.US

22Apr

By Cryptolifedigital2 Comments

Blockchain

Terra’s Stablecoin Added as Base Currency to Binance.US

Binance.US has announced adding a new trading pair that allows trading Bitcoin, the largest cryptocurrency, against Terra's red-hot UST stablecoin. The American arm of the Binance exchange is not the first trading platform to introduce UST as a base currency. The Bitrue exchange added the BTC/UST pair in mid-may. Read Also: 3 Reasons Why Some Ethereum Whales Constantly Purchase Shiba Inu Tokens Crypto exchange OKX, one of the top Binance competitors, launched UST-based trading pairs with Bitcoin, Ethereum, and Solana in early April.The main Binance exchange also introduced trading for the BTC/UST pair earlier this month. The third biggest stablecoin UST has gained a lot of prominence in 2022, with its market cap swelling to nearly $18 billion, according to&nb...