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Terra

Terra (LUNA) is a public blockchain protocol that emerged from Terra Classic. Due to limited liquidity, LUNA sell orders will not be accepted from 10:51 PM - 11:11 PM CT. Please submit your orders outside of this window.

On Thurs. May 25, Terraform Labs announced that the Terra community had approved the creation of a new blockchain, Luna 2.0. The creation of this new chain is a response to unprecedented volatility on the Luna 1.0 chain, which caused the price of the original LUNA and UST to collapse almost to zero. 

As part of the migration, the former asset LUNA will become Luna Classic, or LUNC. A portion of LUNA holders will be eligible to receive an airdrop of the new token (LUNA), per the terms outlined by Terraform Labs.

The new Terra blockchain will utilize the new LUNA, and will not include the UST stablecoin. 

On 9 May, after nearly 18 months of steadily holding its value against the US dollar, the so-called stablecoin TerraUSD (UST) became unpegged. The uncoupling triggered a cascade response that ultimately crashed UST and the Terra (LUNA).

TerraUSD (UST) is a stablecoin, which means it is a cryptocurrency pegged to a fiat currency. In this case, it is designed to be pegged to the US dollar. Stablecoins are intended to allow investors to hold crypto assets with less volatility, and trade a dollar equivalent without needing to cash out their positions. 

UST is considered an algorithmic stablecoin because instead of being backed by assets such as cash or cash equivalents, it is supported by on-chain code that facilitates a change in the supply and demand between UST and LUNA.

LUNA is the cryptocurrency that works in unison with UST in an effort to keep UST in 1:1 parity with the US dollar. One dollar of LUNA can always be converted at a 1:1 ratio to 1 UST. 

For example, if LUNA is trading at $10, then it can be redeemed for 10 UST, and 10 UST can be redeemed for 1 LUNA. If UST rises above its $1 peg to $1.01, then traders can swap 1 USD of LUNA for 1 UST. This trade burns 1 LUNA and mints 1 UST, which can then be sold for 1.01 USD. 

If UST rises to $1.02, then traders can sell for a 2 cent profit, and so on. 


In theory, increasing the supply of UST and lowering the supply of LUNA brings the price of UST back down until it reaches $1. Conversely, if UST drops below the $1 peg, then traders will be incentivized to buy 1 UST for 0.99 USD, which can then be swapped for 1 LUNA. 

This move burns UST and mints LUNA, sending UST higher towards the $1 peg.

UST lost its peg to the dollar starting on May 8th following large withdrawals of UST from Terra’s DeFi protocol Anchor. UST fell quickly, and struggled to regain its peg because the burning of UST and minting of LUNA couldn’t keep up. 

UST descended rapidly as the prolonged de-pegging led to uncertainty and a snowball effect of larger withdrawals. 


A significant share of circulating UST was locked on Anchor, a Terra-based lending and borrowing protocol that paid users 19.5% to stake UST. 

The LFG used up about $2.9 billion of its bitcoin reserves in an unsuccessful attempt to revive UST. 

WSJ 
Decrypt 
Bloomberg

*This content is for educational purposes and is not investment advice.

Avalanche

Terra-linked Luna Foundation Guard has been boosting the price of Bitcoin. Now it's buying Avalanche (AVAX), too.

Luna Foundation Guard to Buy $100 Million in Avalanche to Backstop Terra

Ethereum

Fantom

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding Ethereum and Avalanche are nearing critical stages of development in their scaling roadmaps Terra's UST continues its spread across multiple chains while incentives on Fantom are beginning to fuel a new chapter for the ecosystem

Layer by Layer Issue 27: Ethereum, Terra, Avalanche, and Fantom

Cardano

Bitcoin

Dogecoin

Solana

Russia's recent move signals a monumental role crypto could play in the global financial system, which could send the bitcoin price to $1 million. Meanwhile, ethereum, BNB, terra, XRP, solana, cardano, dogecoin are sinking.

‘A New Petro-Asset': This Historic Move Could Send Bitcoin's Price To $1 Million—Meanwhile, Ethereum, BNB, Terra, XRP, Solana, Cardano, Dogecoin Are Sinking

A popular crypto analyst says one of Ethereum's top rivals appears to be unstoppable. In a new strategy session, the host of financial education YouTube channel InvestAnswers discusses the hot streak that decentralized stablecoin issuer Terra (LUNA) has been on over the past two months, and highlights the project's structural links to Bitcoin (BTC). “There's […] The post One Ethereum Challenger Is Becoming an Unstoppable Beast, According to Popular Crypto Analyst appeared first on The Daily Hodl.

One Ethereum Challenger Is Becoming an Unstoppable Beast, According to Popular Crypto Analyst

Bitcoin and major cryptocurrencies, including ethereum, BNB, luna, XRP, solana, cardano and avalanche, have suddenly moved sharply lower, wiping around $200 billion from the combined crypto market...

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Commodity analysts from Bloomberg say that Ethereum (ETH) is significantly undervalued and that three of its biggest competitors are all showing solid potential. In the latest Crypto Outlook report, Bloomberg strategist Mike McGlone says that based on a discounted cash flow model, which attempts to estimate the value of an investment based on projections of […] The post Ethereum Significantly Undervalued While Terra, Solana and Additional ETH Rival Show Positive Signals: Bloomberg Analyst appeared first on The Daily Hodl.

Ethereum Significantly Undervalued While Terra, Solana and Additional ETH Rival Show Positive Signals: Bloomberg Analyst

Terra founder Do Kwon has said he wants to grow that sum to $10 billion.

Terra Adds $230 Million to Push Bitcoin Reserve to $1.6 Billion

On April 6, onchain data shows the Luna Foundation Guard's (LFG) bitcoin wallet has added 5,040 bitcoin to its reserves. The added funds were worth roughly $221 million at the time of settlement. LFG managed to purchase the bitcoins while bitcoin lost 3.9% against the U.S. dollar during the last 24 hours. LFG Buys the […]

Luna Foundation Purchases 5,040 BTC, Terra Reserves Rise to 35,767 Bitcoin

April 6, 2022 – Singapore, Singapore LongHash Ventures is excited to announce a partnership with Terraform Labs to launch the LongHashX Accelerator Terra cohort. The partnership will open up the LongHashX Accelerator, first established in 2018, to founders and startups building in the Terra ecosystem. Terra has become the second biggest blockchain by total value […] The post LongHash Ventures Partners With Terraform Labs To Accelerate Web 3.0 Development on Terra Blockchain appeared first on The Daily Hodl.

LongHash Ventures Partners With Terraform Labs To Accelerate Web 3.0 Development on Terra Blockchain

The first quarter of 2022 has come to an end and specific digital currency markets have seen a lot of action during the last three months. Out of the top ten digital currencies, terra (LUNA) saw the biggest gains, jumping more than 43% higher against the U.S. dollar in Q1. Out of the top 30 […]

A Look at the First Quarter's Top Performing Cryptocurrencies in 2022

Terraform Labs is partnering with LongHash Ventures in a bid to increase Web3 development on the Terra blockchain.

Terraform Labs, LongHash Ventures Roll Out Terra Accelerator Program

LFG makes its first large bitcoin purchase for April 2022, acquiring a total of 5,040 BTC. The post LUNA Foundation Guard buys a further $231 million of bitcoin appeared first on The Block.

LUNA Foundation Guard buys a further $231 million of bitcoin

Leap, a non-custodial crypto wallet for accessing the Terra ecosystem, has raised $3.2 million in a seed funding round. The post Terra wallet Leap raises $3.2 million in a private token sale appeared first on The Block.

Terra wallet Leap raises $3.2 million in a private token sale

Despite the global cryptocurrency market cap mainly consolidating on Tuesday, LUNA and CELO were some of the session's biggest gainers. ZIL, on the other hand, continued to fall following recent highs, trading over 15% lower during today's session. CELO ZIL fell for a fourth straight session on Tuesday, as prices continue to slip away from […]

Biggest Movers: CELO, LUNA Higher, ZIL Moves Over 15% Lower

If estimates in Leap's litepaper of an 8% private sale allocation hold true, the startup has a valuation of $40 million.

Terra Wallet Leap Raises $3.2M in Private Token Sale

Lido DAO

NEAR Protocol

After pulling data from Benzinga Pro the following is the list of top crypto gainers and losers at the time of publication:

Want To Buy Crypto? Check Out The Top Movers For Today

With the bitcoin community descending on Miami this week for the Bitcoin 2022 conference and one high-profile developer teasing "big surprises," the cryptocurrency market could be in for a shake up...

‘Big Surprises'—Bitcoin Could Be Set For One Of Its Biggest Ever Weeks As The Price Of Ethereum, BNB, XRP, Cardano, Solana And Luna Swing

Bitcoin (CRYPTO: BTC) has staged a nice recovery in recent sessions, as risk appetite returned to the market. The recovery has been in fits-and-starts, and the apex currency has not built up enough momentum to stage a sustained recovery.

5 Major Altcoins That Outperformed Bitcoin This Week

Bitcoin briefly broached $48,000 as several top 30 coins made massive gains over the last seven days.

This Week in Coins: Bitcoin Hits 2022 High, Solana and Terra Skyrocket, Ethereum Rallies

“Besides Satoshi, we will be the largest single holder of Bitcoin in the world," said Do Kwon about Terra's plan to buy $10 billion worth of Bitcoin.

How Terra's Do Kwon Is Boosting Bitcoin

Polkadot

Polygon

A robot with a reputation for outperforming the markets is unveiling its latest crypto portfolio allocations. Each week the Real Vision Bot conducts surveys of cryptocurrency-related data in order to create algorithmic portfolio assessments consistent with the consensus of the “hive mind.” According to Real Vision, the bot has had an “astonishing” record as it […] The post ‘Astonishing' Bot Known for Outperforming Crypto Markets Flocks to Bitcoin, Ethereum, Cardano and Several Top-Tier Altcoins appeared first on The Daily Hodl.

‘Astonishing' Bot Known for Outperforming Crypto Markets Flocks to Bitcoin, Ethereum, Cardano and Several Top-Tier Altcoins

On March 26, the Luna Foundation Guard (LFG) held 24,954.95 bitcoin and during the last five days, LFG's bitcoin wallet accumulated 5,773.02 bitcoin. At the time of writing, LFG's wallet now holds 30,727.97 bitcoin worth more than $1.4 billion using today's exchange rates. In a relatively short period of time, LFG's bitcoin wallet is up […]

Luna Foundation Bitcoin Wallet Nears Tesla's Stash, BTC Address Is the 29th Largest Wallet Today

After El Salvador last week postponed its controversial $1 billion bitcoin-backed bond, outspoken bitcoin billionaire Michael Saylor has warned the market perhaps isn't "quite ready" for bitcoin-backed bonds...

‘Market Is Not Quite Ready'—Bitcoin Billionaire Issues A Serious Crypto Warning As The Price Of Ethereum, BNB, Solana, Cardano, XRP And Luna Suddenly Crash

The co-founder of Ethereum challenger Terra (LUNA) says that the crypto project plans to keep stacking BTC until its stash is second only to Satoshi, Bitcoin's anonymous founder. In a new interview on the Unchained Podcast, Terraform Labs CEO Do Kwon explains the plan to accumulate the top crypto asset by market cap in an […] The post Crypto Billionaire Do Kwon Says Terra (LUNA) Plans on Being Biggest Bitcoin Holder in World, Other Than Satoshi appeared first on The Daily Hodl.

Crypto Billionaire Do Kwon Says Terra (LUNA) Plans on Being Biggest Bitcoin Holder in World, Other Than Satoshi

"We have a message for the citizens of goblin town: Your days are numbered," Terra's Do Kwon warned bearish market players earlier this month. The post Crypto sellers are staying on the sidelines as Terra moves to buy billions in bitcoin appeared first on The Block.

News for Terra Crypto (LUNA)