LUNA Records 100% Growth In A Single Day. More Upside Coming?

luna-records-100%-growth-in-a-single-day.-more-upside-coming?

LUNA has been on the decline since the crash of the UST rocked the crypto space earlier this month. What had been one of the most successful cryptocurrencies in the market had quickly turned sour. The digital asset had fallen from trading around the $100 level to trading a couple of zeros below $1, causing … Read more

Nox Bitcoin To Refund UST At $1 To Their Customers

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Nox Bitcoin, a cryptocurrency exchange in Brazil, has taken the unprecedented step of using its own funds to refund customers for their TerraUSD coins at the full rate. Following local media’s report on May 20, the Nox Bitcoin exchange has refunded all UST holders at a $1 rate with Tether’s USDT. The report stated that … Read more

Investors Continue To Trade LUNA Despite Massive Crash

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Investors continue to trade the LUNA token despite its enormous fall, seeing the coin lose 99% of its value from $62 on May 9 down to less than a cent by May 14. However, on May 20, LUNA remains the most trending cryptocurrency searched on CoinMarketCap. With a market cap of $918 million, LUNA is … Read more

Cosmos price rebounds 45% in one week despite Terra’s debacle — what’s next for ATOM?

cosmos-price-rebounds-45%-in-one-week-despite-terra’s-debacle-—-what’s-next-for-atom?

ATOM’s ascending triangle setup opens up the possibility for another major crash by June 2022. Cosmos (ATOM) emerges as the biggest gainer among the top cryptocurrencies this May 20, brushing aside the fears about its association with Terra (LUNA), an algorithmic stablecoin project whose market valuation fell by 99% last week. Cosmos TVL down from … Read more

Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash

court-documents-reveal-do-kwon-dissolved-terraform-labs-korea-days-before-luna-crash

A revelatory discovery of legal documents could provide greater context to the catalyst of the infamous LUNA and UST price crash The dramatic story of the Terra (LUNA) crash — referred to by some as the Lehman Brothers of crypto — has taken yet another remarkable turn as legal documents reveal the liquidation of two South … Read more

Terra fallout: Stablegains lawsuit, Hashed loses billions, Finder wrong and more…

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Yield generation app Stablegains is facing a lawsuit after losing around $44 million worth of user funds in the Terra collapse when it previously said it allocated funds “across a number of stablecoins”. Fallout from the collapse of the Terra ecosystem continues to unfold with the United States-based yield generation app Stablegains facing potential legal … Read more

Tether CTO: Terra wasn’t a rug pull, it was a poorly designed ‘castle of cards’

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“It was clear to me, it was clear to many that I know that it was a bad idea,” said Tether and Bitfinex CTO Paolo Ardoino. Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply “poorly designed.” Speaking on the Terra … Read more

Here’s why Terra’s snowball effect could send Avalanche (AVAX) price to $15

here’s-why-terra’s-snowball-effect-could-send-avalanche-(avax)-price-to-$15

The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens. Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead … Read more

LUNA Supply Nears 7 Trillion, Is $1 Still Possible?

luna-supply-nears-7-trillion,-is-$1-still-possible?

The circulating supply of LUNA has continuously gone up since the UST debacle began. This has mainly been from people redeeming their staked UST for the digital asset, which caused its supply to rise drastically in such a short amount of time. In turn, the price of LUNA had declined to reflect the enormous amount … Read more

An Overview Of The Stablecoin Market

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The U.S. dollar accounts for nearly 100% of stablecoin value and a window of opportunity for policymakers has emerged with the collapse of UST. In this excerpt from Bitcoin Magazine Pro, we will take a more in-depth look at the redemption mechanism of USDT, and cover why the concerns about the stablecoin and the apparent … Read more