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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.

Cosmos

Solana

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 As L1 ecosystems become more connected than ever before, pooling sufficient liquidity for assets has become increasingly important. As always, incentives are playing a critical role in concentrating capital.  This week, we dive into Terra, Cosmos, Solana, and Binance Smart Chain

Layer by Layer Issue 13: Terra, Cosmos, Solana and Binance Smart Chain

Terra's (CRYPTO: LUNA) price has increased 9.99% over the past 24 hours to $46.84. Over the past week, LUNA has experienced an uptick of over 26.0%, moving from $36.36 to its current price.

Cryptocurrency Terra Up More Than 9% In 24 hours

Terra co-founder and CEO Do Kwon believes that friction between the SEC and DeFi may lead to a regulatory framework that favors innovation.

Terra's Do Kwon Talks SEC Subpoena: DeFi 'May Not Fit In Nicely' With Current Regulations

The SEC served Terraform Labs' Do Kwon with a subpoena at the Messari Mainnet cryptocurrency conference in New York this week.

Terra's Do Kwon Was Served By SEC at Crypto Conference: Sources

Terra's (CRYPTO: LUNA) price has increased 13.64% over the past 24 hours to $41.21. Over the past week, LUNA has experienced an uptick of over 15.0%, moving from $36.03 to its current price.

Cryptocurrency Terra Rises More Than 13% In 24 hours

Over the past 24 hours, Terra's (CRYPTO: LUNA) price has fallen 3.37% to $35.57. This continues its negative trend over the past week where it has experienced a 8.0% loss, moving from $38.51 to its current price.

Cryptocurrency Terra Falls More Than 3% In 24 hours

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 As the crypto market approaches new all-time highs, incentive programs continue to prove effective, both for individual protocols and for ecosystems overall This week, we look at Solana, Binance Smart Chain, Terra, and Cosmos

Layer by Layer Issue 11: Solana, Binance Smart Chain, Terra, and Cosmos

Avalanche

Polkadot

Macro investor and former Goldman Sachs executive Raoul Pal says four altcoins are closely following the strong adoption curves laid out by leading cryptos Bitcoin (BTC) and Ethereum (ETH). In a new interview on Anthony Pompliano's YouTube channel, Pal names four crypto assets with rapid network adoption trajectories that mirror BTC and ETH. The Real […] The post Four Altcoins Will Follow Bitcoin and Ethereum's Powerful Adoption Curves, Predicts Macro Guru Raoul Pal appeared first on The Daily Hodl.

Four Altcoins Will Follow Bitcoin and Ethereum's Powerful Adoption Curves, Predicts Macro Guru Raoul Pal

What's Moving: Terra (CRYPTO: LUNA) traded 1.77% higher at $45.64 on Thursday. The coin has seen an increase in value of 19.15% over a seven-day period.

Why Is Terra (LUNA) Surging Today?

Tezos

One popular crypto trader says three altcoins are ready to make their move while Dogecoin (DOGE) is hesitant to run. The crypto trader known as Loma tells his 206,000 Twitter followers that Axie Infinity (AXS), Tezos (XTZ), and Terra (LUNA) are all gearing up for massive rallies. Starting with the gaming crypto platform Axie infinity, […] The post Dogecoin Faces Make-or-Break Moment As Three Altcoins Gear Up for Sizeable Rallies: Crypto Strategist appeared first on The Daily Hodl.

Dogecoin Faces Make-or-Break Moment As Three Altcoins Gear Up for Sizeable Rallies: Crypto Strategist

Over the past 24 hours, Terra's (CRYPTO: LUNA) price has fallen 8.81% to $44.47. This is opposite to its positive trend over the past week where it has experienced a 34.0% gain, moving from $33.9 to its current price.

Terra Falls More Than 8% In 24 hours

A closely followed crypto strategist and trader is predicting monster rallies for Solana and Terra while expecting one overlooked altcoin to ignite a leg up. The analyst known in the industry as Kaleo tells his 393,800 Twitter followers that Ethereum competitor Solana (SOL) has broken out from its downtrend and is now in the early […] The post Popular Crypto Strategist Predicts Monster Rallies for Solana and Terra, Says One Overlooked Altcoin Ready for a Leg Up appeared first on The Daily Hodl.

Popular Crypto Strategist Predicts Monster Rallies for Solana and Terra, Says One Overlooked Altcoin Ready for a Leg Up

After a September slump, altcoins are back on the rise.

Altcoins Terra, Arweave, Tezos and Solana Soar

The valuation of Luna, the native crypto asset of the Terra blockchain, has hit $38 billion.

Terra Blockchain Completes Key Upgrade As Luna Hits $38B: Key Things To Watch

Fantom

Decentralized Finance or DeFi has been buzzing ever since China issued its latest ban on cryptocurrencies.

These 6 DeFi Coins Have Given Better Returns Than Dogecoin, Tesla, Apple This Year

Terra's utility token, LUNA, has risen by almost 10% following its sweeping Columbus-5 upgrade, which introduces a new token burn mechanism.

Terra's Columbus-5 Upgrade Sees LUNA Surge By 10%

The Columbus-5 upgrade introduces deflationary pressure for LUNA and increases compatibility between Terra and other blockchain networks.

What Terra's Columbus-5 Upgrade Means for LUNA

Terra, a top 15-ranked cryptocurrency by market capitalization, is planning to apply the Columbus 5 upgrade to its mainnet today. If everything goes according to plan, this new update will bring improvements to allow the Terra network to keep expanding. Columbus 5 will change how the network mints UST (terrausd), the main stablecoin of the […]

Terra to Apply Columbus 5 Mainnet Migration

The Columbus-5 upgrade is now live, connecting Terra with Cosmos and other chains on the Inter-Blockchain Communication standard.

Terra Blockchain, Home of LUNA and UST, Upgrades for Cross-Chain Interoperability

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 Layer 1 and 2 chains have been largely built out with scalability in mind, but increased activity brings its own challenges for each ecosystem This week, we take a look at Solana, Terra, Cosmos, and Binance Smart Chain

Layer by Layer Issue 9: Solana, Terra, Cosmos, and Binance Smart Chain

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

XRP & LUNA Among Top Crypto Movers In 24H

Terra's (CRYPTO: LUNA) price has decreased 3.38% over the past 24 hours to $28.4, continuing its downward trend over the past week of -19.0%, moving from $35.14 to its current price.

Cryptocurrency Terra Decreases More Than 3% Within 24 hours

Over the past 24 hours, Terra's (CRYPTO: LUNA) price has fallen 7.56% to $35.18. This continues its negative trend over the past week where it has experienced a 5.0% loss, moving from $36.64 to its current price.

Cryptocurrency Terra Decreases More Than 7% Within 24 hours

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 Layer 1 blockchain foundations continue to release incentive programs to attract users and developers, with a flurry of launches in the past month Rising demand (or lack of it) from users entering new ecosystems is proving to pose unique challenges for both layer 1 and layer 2 chains This week, we take a look at Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

Layer by Layer Issue 7: Update on Solana, Binance Smart Chain, Cosmos, Terra, and Arweave

Terra's (CRYPTO: LUNA) price has decreased 7.71% over the past 24 hours to $35.45. This is contrary to the coins performance over the past week where it has experienced an up-trend of 22.0%, moving from $29.65 to its current price.

News for Terra Crypto (LUNA)