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.

Bitcoin

Terra founder Do Kwon hinted at a future purchase of $3 billion worth of bitcoin to supply the reserves of the protocol in a recent Twitter Space shared with bitcoin enthusiast Udi Wertheimer. In the same Space, Do Kwon explained the new mechanics that the Terra ecosystem is introducing in order to use bitcoin as […]

Terra Founder Hints at $3 Billion BTC Purchase, Explains New Bitcoin-Linked Tokenomics

Avalanche

Solana

A popular crypto analyst is giving a bullish forecast for Ethereum rivals Solana (SOL), Avalanche (AVAX) and Terra (LUNA). In a new video, the host of financial education YouTube channel InvestAnswers says that Solana could be on the brink of reclaiming the three-digit price level as it flashes a strong bullish signal.  “There's a lot […] The post Ethereum Competitors Terra (LUNA), Solana (SOL) and Avalanche (AVAX) on the Cusp of Breakouts: Crypto Analyst appeared first on The Daily Hodl.

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A closely tracked crypto analyst is mapping out what's in store for Ethereum rivals Terra (LUNA) and Avalanche (AVAX) as the digital asset markets flash signs of life. In a new strategy session, Altcoin Sherpa says that decentralized finance (DeFi) payment network Terra looks strong on the shorter timeframes as it continues to establish higher […] The post Here's What's Ahead for Ethereum Competitors Terra (LUNA) and Avalanche (AVAX), According to Crypto Strategist appeared first on The Daily Hodl.

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Cardano

Ethereum

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Algorand

The Graph

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Cosmos

Fantom

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Terra (CRYPTO: LUNA) co-founder Do Kwon said he plans to add $10 billion worth of Bitcoin (CRYPTO:

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Ethereum-challenger and stablecoin issuer Terra (LUNA) plans to accumulate a staggering $10 billion worth of Bitcoin (BTC) to add to its reserves, according to Do Kwon, the project's founder and chief executive officer. Kwon took to Twitter to tell his 248,000 followers that Terra will be one of the world's largest stakeholders of BTC. Terra […] The post Terra (LUNA) Co-Founder Unveils Plan To Build $10,000,000,000 Worth of Bitcoin (BTC) Reserves appeared first on The Daily Hodl.

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A widely followed crypto strategist says that Ethereum (ETH) competitor Terra (LUNA) is poised to hit new all-time highs despite general sideways action across the crypto markets. Pseudonymous trader Kaleo tells his 473,900 Twitter followers that decentralized finance (DeFi) payment network Terra (LUNA) could soar by at least 70% if it manages to surpass its […] The post Analyst Says One Ethereum Rival May Soon Witness Meteoric Rally, Far Outperforming Bitcoin and Crypto Markets appeared first on The Daily Hodl.

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The non-profit is looking to acquire even more collateral backing for UST by burning 4 million LUNA coins. The post Luna Foundation Guard votes to raise additional $372 million collateral appeared first on The Block.

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Terraform Labs CEO Do Kwon has finalised a bet with a crypto personality named GCR to the tune of $10 million. The post Terraform Labs CEO Do Kwon seals $10 million bet over LUNA price appeared first on The Block.

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Chainlink

A closely tracked crypto trader says that Ethereum rival Terra (LUNA) might be following the same path that decentralized oracle Chainlink (LINK) took when it experienced its last big correction. The pseudonymous analyst known as Capo tells his 248,000 Twitter followers that traders are overlooking some striking similarities in price action between LINK and LUNA. […] The post Trader Says Terra (LUNA) Following Corrective Path of Chainlink (LINK), Warns of Downside Risk of Fantom (FTM) appeared first on The Daily Hodl.

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Crypto intelligence firm IntoTheBlock is revealing the catalysts that pushed Ethereum (ETH) challenger Terra (LUNA) to new all-time highs. Terra is a decentralized finance (DeFi) payment network that allows users to mint stablecoin Terra USD (UST) by burning its native asset LUNA. UST holders have the option to deposit their Terra USD stacks to lending […] The post Here Are the Key Catalysts Pushing Ethereum Rival Terra (LUNA) to New All-Time Highs: Analytics Firm IntoTheBlock appeared first on The Daily Hodl.

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Members from within and without the Terra community have taken massive bets on the performance of the native token.

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Polygon

Popular crypto analyst Michaël van de Poppe says he expects three of the largest altcoins by market cap to continue correcting before they establish a local bottom. Starting with decentralized finance (DeFi) payment network Terra (LUNA), Van de Poppe tells his 575,800 Twitter followers that he sees the seventh-ranked altcoin pulling back down to $70 […] The post Analyst Michaël van de Poppe Predicts Bottoms for Terra (LUNA), Polygon (MATIC) and Fantom (FTM) appeared first on The Daily Hodl.

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A closely followed crypt trader is predicting a deep corrective move for one of Ethereum's most explosive competitors. Pseudonymous trader Light tells his 149,400 Twitter followers that he's shorting Terra (LUNA) with a price target at $51. He believes the decentralized finance (DeFi) payment network will suffer due to its reliance on the Terra-based stablecoin […] The post Top Trader Issues Crypto Warning, Says One of Ethereum's Biggest Competitors Heading for Severe Correction appeared first on The Daily Hodl.

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News for Terra Crypto (LUNA)