Terra's Anchor Protocol erases 'crypto winter' losses, ANC price rebounds 300...
ANC price risks becoming overheated, however, after a major rally. Anchor Protocol (ANC), the decentralized finance (DeFi) platform built on the Terra blockchain protocol, rebounded nearly 300% in over a month after bottoming out near $1.26.ANC price went as high as $4.97 on the Bitfinex cryptocurrency exchange on March 3, 2022, breaking above the previous record peak near $4.50 established on Dec. 3 last year. In doing so, the Anchor Protocol also erased all the losses it had incurred during what some called the "crypto winter" that started in Q4/2021 — against the prospects of the....
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Anchor Protocol, one of the most popular platforms in the Terra ecosystem, rolled out a change in its Earn Rate. The latter will begin to operate in a semi-dynamic fashion rather than the previously fixed 20% annual percentage yield (APY). Related Reading | Terra Price Continues Moving North; How Soon Will It Cross $100? With a massive shift in the protocol’s reward mechanism, the new models aim at making Anchor “more sustainable”. As a result, users started earning an 18% APY as of yesterday, May 1. The earn rate will be modified each month for the foreseeable future. The team....
Yields from Terra's flagship savings protocol will be available to more than 30 million users on Binance. On Wednesday, centralized cryptocurrency exchange Binance launched its new TerraUSD (UST) staking program. Although Binance did not name the underlying decentralized finance protocol responsible for the staking rewards, Do Kwon — Terra Luna's (LUNA) co-founder — attributed the origins of the high yield to Terra's flagship Anchor protocol. Anchor rate is now available to 30M+ binance users The anchor yield of web3 is living up to its name. https://t.co/awubGdRJgP— Do Kwon (@stablekwon)....
The massive move upside had MIR form a golden cross Mirror Protocol, a decentralized finance (DeFi) protocol built on the Terra blockchain, was hit by one of the biggest collapses in financial history this week after Vladimir Putin ordered military strikes against Ukraine. Terra tokens rallyMirror Protocol's native token, MIR, dropped to $0.993 on Feb. 24, its worst level to date amid a selloff across the broader crypto market. But a sharp rebound ensued, taking the price to as high as $1.41 two days later, up more than 40% when measured from MIR's record low.MIR/USD four-hour price chart.....
The growing interest in stablecoins, new partnerships and the improving state of the wider market back LUNA’s newfound bullish momentum. Altcoins continue to move higher while the price of Bitcoin (BTC) remains trapped in the $31,000 to $36,000 price range. The predictable range appears to be helping Terra (LUNA), a blockchain protocol that specializes in fiat-pegged stablecoins like TerraUSD (UST) to power a price-stable global payment system. LUNA/USDT 1-day chart. Source: TradingViewA quick scroll through the project’s Twitter feed indicates that the team behind LUNA has been busy as....
Projects associated with Terra suffer losses of more than 80% as contagion spreads. Meanwhile, Maker (DAI) gets a boost as traders look for other decentralized stablecoin options. The knock-on effect of the collapse of Terra (LUNA) and its TerraUSD (UST) stablecoin have spread wide across the cryptocurrency market on May 11 as projects with any kind of association with the DeFi ecosystem have seen their prices hammered. The forced selling of the Bitcoin (BTC) holdings backing a portion of UST also influenced BTC's current drop to $29,000 and analysts fear that DeFi platforms that have....