The Terra team’s action has received widespread support from many exchanges. LUNA has difficulty dealing with the entire tragedy and the subsequent occurrences. According to the crypto community members, the distribution of airdrop tokens was lopsided. There was a difficulty with the dispersal of airdrops, and the Terra team acknowledged
Terra’s (Terra 2.0) new blockchain went live on May 28 and the network has been updated with the chain-id Phoenix-1. The open price of LUNA was $18.98 and the trading volume was $281,599,801. But since the re-launch of the new Terra network coin LUNA has dropped by over 69% within
The past two weeks have seen an extreme bear market in the history of crypto. Terra (LUNA) has once ranked among the 10 most valuable cryptocurrencies in the market and had an all time high at the price of $119.5. By May 11, however, the price of the asset had
Terraform Labs plans to create a new blockchain named Terra 2.0. The airdrop of new LUNA tokens began on May 28th, 2022. Some of the most well-known cryptocurrency exchanges, including Binance, FTX, Crypto.com, Huobi, Bitfinex, Bybit, Gate io, Bitrue and Kucoin, have promised their support for a forked version of
A “multi-million dollar fund” called the Terra Developer Fund was announced. Polygon has been down 4.23% in the last 24 hours. Recent bearish engulfing candlesticks in MATIC have significantly hindered purchasing attempts as the alternative has gone below its three-month trendline resistance. MATIC might go into a downward spiral in
The money of Binance customers is never combined with the company’s own. CZ had previously worked for Bloomberg Tradebook and the Tokyo Stock Exchange. Users would get a refund before shareholders if Binance went bankrupt, according to CEO Changpeng Zhao (CZ). The CEO remarked a May 21st Ask me anything
It will be convened on May 24th by the Party Policy and Virtual Asset Committees. South Korean authorities are taking measures to freeze the assets of the LFG. Korea’s governing party is convening a meeting to address LUNA’s demise, according to reports from the Newspim news agency. Representatives from the
The whole system’s failure has wiped out the ecology and shattered its trustworthiness. A situation where no multisig is involved is strange and hazardous. Theory, loss and response are only some of the reactions to Terra’s extinction. Because of the failure, many thought that this one was doomed. Tether’s Chief
In the second week of May 2022, Tether fell below the 1:1 dollar peg. Following the recent crypto crisis, Tether has paid out $10 billion in withdrawals. Terra has witnessed the most unexpected incident in the unpredictable cryptocurrency market. The de-pegging of one of the most popular stablecoins has resulted
LUNA team was unable to create enough “revenue” to keep it going. The incentives utilized to attract new investors were not sufficient to keep pace. Following the recent Terra ecosystem collapse, Changpeng Zhao, the CEO of Binance, has continued to express his thoughts on the matter. According to a recent
