3 key metrics signal Terra (LUNA) price is preparing for a recovery
LUNA price is far from its all-time high but three key metrics signal that the altcoin could be preparing to rally. Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date and even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support.Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to become the third-largest stablecoin on April 18 and the April 26 announcement that Fireblocks, a digital asset custody platform had seen....
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The recovery plan for Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA) embarked on a bumpy route after the LUNA 2.0 cryptocurrency suffered a substantial market fall hours after its launch. TerraForm Labs successfully delivered new LUNA coins to market participants holding LUNA Classic (LUNAC) and TerraUSD (UST). According to data from cryptocurrency exchange Bybit, LUNA began trading at $0.5 and quickly rose to a high of $30 before dropping by more than 88% to $3.5. Related Reading | Cryptocurrency Spams Grow By Over 4000% In The Last Few Years LUNA....
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 […]
HitBTC plans to list Terra's brand new token LUNA on May 27 as the suspended Terra Classic blockchain is expected to revive as Terra 2.0. Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra's brand new token, also named LUNA.The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27.The news comes amid Terraform Labs preparing to relaunch its protocol on May 27 and replace the old chain referred to as Terra Classic with the new chain called just....
The new Terra blockchain Phoenix-1 has been operating since Saturday morning May 28, 2022, and on that day, millions of new LUNA tokens were dispersed to luna classic (LUNC) and terrausd classic (USTC) holders. However, on Tuesday the Terra development team revealed that some Terra token owners “received less LUNA from the airdrop than expected,” and developers are “actively working on a solution.”
Terra LUNA Airdrop Suffers From Miscalculation Error — Devs Plan to Offer a Solution
On Monday, May 30, 2022, Bitcoin.com News reported on the new....
Do Kwon’s co-founder and CEO of TerraForm Labs recently announced the Terra revival plan and received mixed reactions; many of them have questioned the effectiveness of a hard fork in reviving the fallen price of Terra (LUNA) and TerraUSD (UST) tokens. On the other hand, few recommended burning LUNA as the most plausible way for […]