Terra peg mechanism in doubt as UST crashes to 67 cents
Terra USD (UST) and its backing coin LUNA have been in a veritable nosedive in price and market cap since major sell-offs began in the ecosystem. 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 the value of UST. Adding further insult to injury, the market cap of UST has vastly surpassed that of LUNA, drawing extreme scrutiny from the crypto....
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Terra Classic (LUNC), recognized as what remains of the Terra project that experienced one of the biggest collapses in crypto space to date, crashed and burned in its attempt to have a bullish momentum. It can be recalled that Binance implemented a “burn” mechanism to deal with the excessive supply of the digital asset to […]
The Terra Classic LUNC has been putting more effort into resuscitation its new position in the crypto space. Unfortunately, the algorithmic stablecoin Terra and LUNA collapse in May caused a massive loss in the industry. The crisis intensified the crypto winter of the year, leading to the loss of billions of dollars. However, the new Terra ecosystem is gradually building against its previous loss. One of its distinctive approaches is the protocol’s burning mechanism. This action brought about the 1.2% tax burn for on-chain LUNC transactions, as proposed by one of the Terra community....
Terra (LUNA) might not be new to the crypto space but its recent rise to the top has no doubt taken the market by surprise. Not only has this growth seen the value of its token soar but it has also put its market cap on an accelerated growth rate. This has propelled it to […]
The Lightning Network offers an efficient micropayments channel that reduces load on bitcoin blockchain. Ever heard of the term “Bitcoin Dust”? That’s the case when the transactions are too little in monetary value that it is just not profitable for the network to support such transactions, hence a transaction fee is usually levied. That’s one issue which needs to be addressed and how it can be done is a matter of choice. Let’s say you read something great on the Internet over the weekend and thought it might be a good idea to tip the author with 10 cents, for what it’s worth. Your part is....