Terra may be about to repeat $125M BTC buy that sparked Bitcoin's run to $43.3K
A repeat transaction to Binance of 125 million USDT sees one trader follow suit into Bitcoin, with BTC/USD yet to react at the Wall Street open. Bitcoin (BTC) could be set for a repeat of this week's run to weekly highs after Blockchain protocol Terra appeared set to buy another $125 million of BTC.A wallet thought to belong to Terra but not officially confirmed to be under its control sent another 125 million Tether (USDT) to Binance on March 23.Rinse and repeat for 5.6% BTC price gains?The Bitcoin price narrative gained a new player this week after Terra co-founder Do Kwon let slip about....
Related News
At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers’ tweet, Terra validators needed to apply a patch to further disable delegations. ** This post was updated at 3:00 p.m. (ET) to reflect the fact that the Terra blockchain has resumed block production. Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon At the time of writing, the Terra blockchain has stopped block production since the mid-afternoon Eastern Standard. The team’s....
A third tranche of USDT leaves a wallet thought to hold funds earmarked to purchase at least $3 billion of Bitcoin. Bitcoin (BTC) returned to $43,000 on March 24 as new purchases by Blockchain protocol Terra fuelled optimism.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewThe BTC buys keep comingData from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to crack and secure its highest levels in weeks Thursday.The pair had consolidated day before, the sideways action on lower timeframes giving way to a "grind" upwards, which took Bitcoin to $43,492 — a price....
Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic cryptocurrency exchanges have said they plan to create a consultative body whose mandate is to prevent the recurrence of a token collapse similar to that of the first iteration of Terra’s LUNA. The consultative body will achieve....
According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase has been released to prepare for the new network. Terra Ecosystem Rebirth to Happen on May 27, Latest Version of Terra Core Has Been Released and Audited On May 27, a new blockchain will launch that’s based on the Terra....
The new Terra token dropped by over 70% within hours of hitting $30 after its release on Saturday, May 28, triggering yet another round of criticism from the crypto community. The old LUNA has been renamed Terra Classic (LUNC) on CoinMarketCap, and a new listing for the new Terra (LUNA) has been added. As part […]