The third-largest stablecoin by market cap Terra USD (UST) appears to be in a catastrophic tailspin which has seen it de-peg from the dollar and drop to as low as $0.67 on May 10. As its price has fallen, so has its market capitalization along with that of Terra (LUNA) which backs the majority of …
Continue reading “Terra peg mechanism in doubt as UST crashes to 67 cents”
NFTs from some of the most famous blockchain networks are making their way to Instagram, with a test program slated to begin as soon as Monday. According to CoinDesk, the Meta-owned social media behemoth is preparing non-fungible token (NFT) interfaces for Ethereum, Polygon, Solana, and Flow. However, it is still in the clouds whether Instagram will support …
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ARK Invest founder Cathie Wood says that the increasing correlation between crypto and traditional assets indicates that the bear market will soon be over. In a new video update, Wood says that the bottom for risk-on assets like Bitcoin and cryptocurrencies is likely near. Her prediction comes as the price of leading crypto asset (Bitcoin) …
The governor of the largest US state by population is signing an executive order to boost and regulate blockchain technology within the state. Governor Gavin Newsom of California signed an executive order on Wednesday, April 5, to create a regulatory framework that encourages blockchain innovation while protecting consumers. “Under this executive order, and pursuant to …
Sentiment across the cryptocurrency market plunged even deeper on May 9 as an escalation in the ongoing sell-off intensified with bears pushing Bitcoin (BTC) to $30,334, its lowest price since July 2021. Crypto Fear & Greed Index. Source: Alternative.me Multiple factors like rising interest rates, the end of easy money policies by the Federal Reserve, …
Continue reading “Bitcoin retests key $30K support zone as data highlights BTC whale accumulation”
Roughly $1.4 billion worth of Bitcoin (BTC) was reportedly moved from a wallet tied to Luna Foundation Guard (LFG) on Monday, raising questions about its ultimate destination on a day that has seen Bitcoin’s price tumble more than 11%. Data from blockchain explorer Blockchair revealed Monday that 42,530.82827771 BTC was spent from the LFG wallet, …
Continue reading “42.5K BTC reportedly moved from Luna Foundation Guard wallet as UST peg crumbles”
Luna Foundation Guard (LFG) said on May 9 that it will lend out $1.5 billion worth of Bitcoin (BTC) and UST to defend the algorithmic stablecoin’s peg to the U.S. dollar. Terra’s UST suffered a coordinated attack on May 8, which led to de-pegging from its $1 mark to below $0.992. While the de-pegging lasted …
Continue reading “Terra’s LFG to lend OTC traders $1.5B in BTC, UST to support stablecoin peg”
The Luna Foundation Guard is moving billions of Bitcoin across the blockchain.The wallet address “bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q” held 42,530 BTC but today, May 9 at 6:34 PM UTC the wallet was emptied. The address has previously been confirmed to be the reserve wallet for LFG and has been steadily accumulating Bitcoin for months. The Bitcoin has been …
Continue reading “Luna Foundation Guard just moved $1.4 billion Bitcoin to an exchange”
The U.K. has the opportunity to become a global crypto hub by ditching ‘Brussels rules,’ according to the Telegraph, which continues to promote the idea of the City of London reinventing itself through cryptocurrency in the post-Brexit era. In a recent article, author Barnabas Reynolds argued that nowhere else is better placed to become a …
Looty, a Nigerian art-oriented firm, has come up with a way for Africans to view all the art the continent lost during the colonial era. Chidi, a 34-year-old Nigerian creative designer and the founder of Looty, said the company first tracks down African art in museums across the globe, then uses special apps and technology …
Continue reading “Nigerian firm Looty looks to repatriate stolen African art in digital form”
Fears that TerraUSD (UST) will de-peg following weekend volatility have increased after it fell below $0.980. The algorithmic stablecoin saw increased sell pressure on May 7 as more than $300 million in UST was sold via Curve Finance. Luna Foundation Guard (LFG) — supported by Terraform Labs CEO Do Kwon — issued $1.5 billion in …
Continue reading “Terra’s UST drops 850 basis points against the dollar, loses peg”
While bitcoin’s price has dropped to levels not seen since January 2022, a number of detractors think bitcoin is on its death bed. Data stemming from the Bitcoin Obituaries list shows the leading crypto has died seven times in 2022, outpacing the first three years of obituaries by year written by bitcoin haters. The last …
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. **This article was updated …
The cryptocurrency economy has shed a lot of value during the last six months dropping 48.70% from $3.08 trillion to today’s $1.58 trillion. While crypto markets looks extremely bearish these days, a few crypto advocates have theorized the bear market will be less harsh this time around. Furthermore, there’s also the rare scenario that bitcoin’s …
Monday’s downturn in crypto markets sent several tokens lower, with cardano, polkadot and shiba inu all falling by over 15%. Despite this, there were some notable exceptions which rose to start the week, WAVES being one of them. WAVES WAVES was trading in the green on Monday, as prices rose by as much as 9% …
Continue reading “Biggest Movers: DOT, ADA, SHIB Down Under 10%, as WAVES Rallies on Monday”
