TerraUSD (UST) adoption backs LUNA’s ascension to a new all-time high
Cross-chain integrations and the growing popularity of Terra’s UST stablecoin are just a few of the factors behind LUNA’s recent rally to a new all-time high. Stablecoins are an integral part of the the centralized crypto sector and the decentralized finance (DeFi) ecosystems that have sprung up over the course of the past few years because they provide the liquidity needed for traders to easily swap into different assets. They also serve as a shelter against strong downside swings like the 25% correction seen on Dec. 3.One project with a stablecoin component that has seen its price surge....
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The successful launch of the long-awaited Columbus-5 upgrade is just one of the factors in LUNA’s ascension to a new record high. Protocol upgrades are one of the biggest drivers of momentum because they show developers' dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token's value.One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (UST) to create a....
The nonprofit organization focused on the Terra ecosystem Luna Foundation Guard (LFG) now holds almost 28,000 bitcoin, which translates to $1.3 billion out of its $10 billion total target aimed to back TerraUSD (UST). Related Reading | Terra (LUNA) Will Buy $10 Billion Worth Of Bitcoin. Here’s Why Why Terra Is Buying BTC “The reason why […]
Terra (LUNA) is storming higher towards market supremacy in the realm of stablecoins, as investors tend to believe that its algorithmic stability mechanism is long-term feasible. Its crypto-reserve provides investors with a greater margin of safety, which is always a positive indication. More stability is better than less stability, particularly in light of the recent high volatility. Terra’s token seems to be in great demand among investors and individuals looking for a reliable cryptocurrency on which to operate their businesses. Increased demand for this token is expected to....
Do Kwon, the co-founder and Chief Executive Officer (CEO) of Terraform Labs, is now in hotter water following a crucial discovery made by South Korean prosecutors that could undermine his claims of innocence and non-involvement in the colossal implosion of the TerraUSD stablecoin. According to some reports published on Korean news sites, Kwon allegedly gave […]
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 with a new paragraph to reflect the price of terrausd (UST) dropping to $0.86 per token on Monday, May 9, 2022, at 6:10 p.m. (ET). It also mentions the Luna Foundation Guard bitcoin wallet that holds 28,205 bitcoin at....