Terra peg mechanism in doubt as UST crashes to 67 cents
Terra USD (UST) and its backing coin LUNA have been in a veritable nosedive in price and market cap since major sell-offs began in the ecosystem. Go to Source Powered by WPeMatico
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As LUNA’s Price Drops Over 33% in 24 Hours, Stablecoin UST Slips Below $1 Parity to $0.93
As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost stability, dropping to $0.932008 per token. Additionally, the Luna Foundation Guard’s bitcoin wallet and ethereum Gnosis safe address has been emptied. LUNA Price Puts Intense … Read more
Luna Foundation to Lend $1.5 Billion in Bitcoin and UST to Market Makers — Plan Aims to Protect Stablecoin’s $1 Parity
As crypto markets continue to slide in value, concerns about the algorithmic stablecoin terrausd (UST) losing its $1 parity have swelled in recent times. Two days ago on May 7, 2022, UST dipped down to $0.985 per unit against tether (USDT), and the stablecoin’s price drop invoked a great deal of speculation concerning UST losing … Read more
LFG to deploy $1.5 billion to bolster UST peg and build BTC reserves
LFG outlined that it will first loan out $750 million worth of BTC to over-the-counter trading firms to manage the capital and “help protect” UST. Go to Source Powered by WPeMatico
Bitcoin price target now $29K, trader warns after Terra weathers $285M ‘FUD’ attack
Doom and gloom continues for Bitcoin markets as Terra’s Do Kwon brushes aside a “deliberate and coordinated” attack on its TerraUSD and LUNA tokens. Go to Source Powered by WPeMatico
Luna Foundation Acquires $1.4 Billion in Bitcoin, Decentralized Reserve Stash Rises to 80,394 BTC
According to a report published on Thursday, the Luna Foundation Guard (LFG) explained that it acquired 37,863 bitcoin worth more than $1.4 billion through two over-the-counter deals. The LFG now holds 80,394 bitcoin in its reserves currently worth just under $3 billion using today’s exchange rates. Luna Foundation Guard Scoops up 37,863 Bitcoin On May … Read more
Tron’s Justin Sun Reveals Decentralized Algorithmic Stablecoin USDD
On April 21, Justin Sun, the founder of Tron, announced the launch of a decentralized algorithmic stablecoin called USDD. Sun said on Thursday that the USDD Network will “provide custody service for the $10 [billion] worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve.” Tron to Launch … Read more
Terra’s UST flips BUSD to become third-largest stablecoin
UST market cap has surged to flip BUSD, however, its trading volumes are still only around one-fifth worth of the Binance digital dollar. Go to Source Powered by WPeMatico
Luna Foundation Purchases Another $5 Million in Bitcoin, LFG Wallet Holds 42,530 BTC
The Luna Foundation Guard (LFG) purchased an additional 123.89 bitcoin on Friday worth close to $5 million at the time of settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning, the non-profit organization has approximately 42,530.827 bitcoin. LFG Acquires Another Batch of Bitcoins for … Read more
Terraform Labs gifts another $880M to Luna Foundation Guard
After receiving a $1.1B donation last month, the Luna Foundation Guard has received another 10M LUNA tokens from Terraform Labs. Go to Source Powered by WPeMatico
