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.

Cryptocurrency Terra (CRYPTO: LUNA) has surpassed Ethereum (CRYPTO: ETH) to emerge as the second-largest staked asset among major cryptocurrencies.

This Crypto Has Flipped Ethereum To Become Second-Largest Staked Asset

Ethereum

Ethereum (CRYPTO: ETH) — the world's second-biggest cryptocurrency and the one that introduced smart contracts (enabling decentralized finance and non-fungible tokens, among other things) — was just overtaken by a novel cryptocurrency in a key metric.

Ethereum Was Just Overtaken By Terra In This Key Metric

Bitcoin

A popular crypto trader and analyst is predicting rallies for a trio of altcoins as long as Bitcoin (BTC) can hold onto current price levels. The pseudonymous trader known as Altcoin Sherpa tells his 169,400 Twitter followers that he's eyeing potential gains for smart contract platform Terra (LUNA), the non-fungible token (NFT) marketplace LooksRare (LOOKS), […] The post Analyst Predicts Rallies for Terra (LUNA) and Two Altcoins, Warns Not To Expect Many Bitcoin Dips This Month appeared first on The Daily Hodl.

Analyst Predicts Rallies for Terra (LUNA) and Two Altcoins, Warns Not To Expect Many Bitcoin Dips This Month

Some $30 billion worth of the tokens are staked by users to earn yields of just under 7%.

Terra's LUNA Passes Ether to Become Second-Largest Staked Asset

Cardano

Avalanche

Solana

The bitcoin price has added more than 20% since dropping to lows of under $35,000 per bitcoin last week. Meanwhile, the price of ethereum and smaller coins BNB, solana, cardano, XRP, Terra's luna and avalanche have also rocketed higher...

‘Mexico Is On The List'—Other Countries Could Soon Follow El Salvador In Bitcoin Adoption As The Price Of Ethereum, BNB, Solana, Cardano, XRP, Terra's Luna And Avalanche Soar

Cosmos

Unlisted cryptocurrencies are trading in bullish trend zones, while altcoins are making positive moves with the exception of WAVES.

Weekly Cryptocurrency Market Analysis: Altcoins Hold Recent Rallies as Cryptos Battle Next Resistance Levels

The Sandbox

A popular crypto trader thinks Terra (LUNA), The Sandbox (SAND) and Avalanche (AVAX) are some of the strongest altcoins right now. Pseudonymous crypto analyst Cheds says in a new interview that he believes traders should focus on a small handful of the strongest altcoins rather than investing in a bunch. “I would not touch anything […] The post Two Ethereum Challengers Will Outperform the Market in Next Major Rally, According to Top Crypto Analyst appeared first on The Daily Hodl.

Two Ethereum Challengers Will Outperform the Market in Next Major Rally, According to Top Crypto Analyst

On Monday, terra (LUNA) rose for its 8th session in nine days, as its value increased by close to 60% over the last week. Anchor (ANC), on the other hand, was lower after climbing by almost 50% in the same period. Biggest Gainer Terra (LUNA) has been one of the standout performers in cryptocurrency markets […]

Technical Analysis: LUNA Leads Crypto Rally, ANC Slips Under Bearish Pressure

The total value locked in decentralized finance (defi) has managed to jump above the $200 billion zone, as crypto markets have rebounded from the market downturn last week. A number of native assets from the $611 billion worth of smart contract protocols have seen double-digit gains with cypherium (CPH), counterparty (XCP), and terra (LUNA) leading […]

Value Locked in Defi Rebounds — Smart Contract Tokens CPH, LUNA, XCP Lead the Pack

Even as armed conflict dominated headlines, crypto's push toward mainstream acceptance continued.

This Week in Coins: Bitcoin Falls Amid Russian Invasion as LUNA Leaps Almost 50%

The past couple of weeks have not been easy on financial markets. Russian President Vladimir Putin sent the markets crashing by his decision to invade Ukraine in the pretext of helping two separatist regions in the country.

Meet The Crypto That Advanced Close To 50% On a Week Marred by Ukraine-Induced Volatility

Crypto markets appeared to have temporarily shaken off recent volatility, with AMP once again leading the day's bulls. Terra's LUNA also surged, climbing by as much as 20% during Friday's trading session. AMP AMP is currently trading over 24% higher in today's session, climbing to its highest level since last Saturday. Friday's rally in AMP […]

Technical Analysis: LUNA, AMP Jump Over 20% Higher on Friday 

A top crypto analyst is warning investors that two popular altcoins have bearish outlooks despite outperforming various other digital assets over the past couple of months. Pseudonymous analyst Smart Contracter tells his 205,200 Twitter subscribers that stablecoin issuer and Ethereum-competitor Terra (LUNA) looks like it will have rough seas ahead. “LUNA, another of the leaders […] The post Two Ethereum Rivals on Cusp of Major Breakdowns, Warns Top Crypto Trader appeared first on The Daily Hodl.

Two Ethereum Rivals on Cusp of Major Breakdowns, Warns Top Crypto Trader

AVAX, and LUNA were some of the biggest gainers in crypto markets on Wednesday, as the recent bearish sentiment has momentarily faded. As of writing, the global crypto market cap was 4.51% higher than at the same point yesterday. Terra (LUNA) AVAX is currently trading over 12% higher in today's session, climbing to its highest […]

Technical Analysis: LUNA, AVAX Lead Wednesday's Crypto Rally

The Luna Foundation Guard (LFG) has raised $1 billion in a private token sale to allow the group to safeguard the peg of UST, Terra's flagship stablecoin, against market instabilities. While the token has an algorithmic method to maintain its dollar value, this decentralized reserve — which will be stored in BTC — aims to […]

Luna Foundation Guard Raises $1 Billion to Safeguard UST Dollar Peg

As the broader cryptocurrency market shows signs of recovery, LUNA and AVAX posted double-digit gains over the last 24 hours.

Terra, Avalanche Lead Crypto Market Rebound With Double-Digit Gains

Jump Crypto and Three Arrows Capital just bought a lot of LUNA tokens.

Terra Says LUNA Token Sale Raises $1 Billion for Bitcoin Reserve

The Luna Foundation Guard (LFG) has raised $1 billion through an over-the-counter sale of LUNA. The post Luna Foundation Guard raises $1 billion to form bitcoin reserve for UST stablecoin appeared first on The Block.

Luna Foundation Guard raises $1 billion to form bitcoin reserve for UST stablecoin

Following a bearish start to the week, the crypto market rallied throughout the afternoon, with quant (QNT) and terra (LUNA) leading the gainers. Earlier losses in bitcoin and ethereum were also lessened, as the overall market was up 1.35% as of writing. Biggest gainers Cryptocurrency markets have been under considerable pressure from bears in the […]

Technical Analysis: QNT, LUNA Lead Monday's Crypto Rebound

Solana, terra and avalanche were all lower on Friday, as market uncertainty impacted all major cryptocurrencies. This came as several of the big ten all fell into multi-week lows versus the U.S. dollar. Biggest gainers With markets mainly in the red on Friday, finding a bull was no mean feat, however, there were some exceptions […]

Technical Analysis: SOL, LUNA and AVAX All Down on Friday

A New York court has ordered Terra and Do Kwon to comply with subpoenas issued by the SEC which were issued at a crypto conference last year.

US Court Orders Terra, Do Kwon to Comply With SEC Subpoenas

Terra and Kwon had sought a dismissal, arguing the U.S. Securities and Exchange Commission doesn't have jurisdiction over Kwon or his company.

Terra, CEO Do Kwon Ordered to Comply With SEC Subpoena Related to Mirror Protocol Investigation

Fantom

NEAR Protocol

A popular crypto analyst says there are three Ethereum rivals standing out from the rest of the digital asset market. The pseudonymous analyst known as Altcoin Sherpa says that smart contract platform Fantom (FTM), algorithmic stablecoin blockchain Terra (LUNA), and decentralized application (DApp) platform Near Protocol (NEAR) are all showing considerably bullish market structures. He […] The post Terra (LUNA), Fantom (FTM) and One More Ethereum Competitor Showing Significant Strength: Crypto Analyst appeared first on The Daily Hodl.

Terra (LUNA), Fantom (FTM) and One More Ethereum Competitor Showing Significant Strength: Crypto Analyst

Tezos

Digital asset manager CoinShares says institutional investors are flooding to newly-created layer-1 crypto investment products. While Bitcoin (BTC) enjoyed over $20 million in inflows and Ethereum (ETH) broke a nine-week outflow trend, institutions also flocked to newly created altcoin investment products for Terra (LUNA), Tezos (XTZ), and Cosmos (ATOM). “Recently created altcoin investment products, Terra, Tezos and Cosmos all saw […] The post Institutions Go for New Terra (LUNA), Tezos (XTZ) and Cosmos (ATOM) Investment Products: CoinShares appeared first on The Daily Hodl.

Institutions Go for New Terra (LUNA), Tezos (XTZ) and Cosmos (ATOM) Investment Products: CoinShares

A closely followed crypto strategist is predicting major bearish price actions for Ethereum challengers Cardano (ADA), Terra (LUNA) and Fantom (FTM). Pseudonymous trader Capo warns his 243,400 Twitter followers that Cardano is threatening to breach support at $1.00 after tapping the crucial level multiple times in the last 12 months. “Sixth touch of main support […] The post Cardano (ADA) and Two Other Ethereum Rivals at Risk for Major Bearish Reversals: Crypto Analyst appeared first on The Daily Hodl.

News for Terra Crypto (LUNA)