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.

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

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 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.

Cryptocurrency Terra Falls More Than 7% In 24 hours

Algorand

Algorand, Terra and Solana are all still rallying.

Altcoins Continue to Rise While Ethereum and Bitcoin Fall

Terra's first NFT project is a space-themed Loot derivative.

Terra's First NFT Project is a Space-themed Loot Derivative

Over the past 24 hours, Terra's (CRYPTO: LUNA) price has risen 15.53% to $30.09. This is contrary to its negative trend over the past week where it has experienced a 4.0% loss, moving from $31.82 to its current price.

Cryptocurrency Terra Rises More Than 15% In 24 hours

Avalanche

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 Liquidity and building incentives have recently enabled some L1 ecosystems to attract DeFi developers and users, alongside surging interest in NFTs This week, we look at Avalanche, Solana, Binance Smart Chain, Cosmos, and Terra

Layer by Layer Week 5: An Update on Avalanche, Solana, Binance Smart Chain, Cosmos, and Terra

Terra's (CRYPTO: LUNA) price has increased 4.48% over the past 24 hours to $35.51. Over the past week, LUNA has experienced an uptick of over 22.0%, moving from $29.02 to its current price.

Terra (LUNA) Rises More Than 4% In 24 hours

A slew of smart contract platforms have been surging in price over the past 30 days, and blockchain analytics firm Glassnode is digging into the metrics to determine whether or not any of these platforms can compete with Ethereum (ETH) in the future. Avalanche (AVAX), Solana (SOL), and Terra (LUNA) have all exploded over the […] The post Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms appeared first on The Daily Hodl.

Can These Surging Altcoins Compete With Ethereum? Glassnode Analyzes Three Growing Platforms

Several major tokens from the top 100 dipped deeper than their peers amid a becalmed cryptocurrency market.

Avalanche, Terra, ThorChain Hit by Midweek Market Slump

Over the past 24 hours, Terra's (CRYPTO: LUNA) price rose 15.67% to $32.78. This continues its positive trend over the past week where it has experienced a 28.0% gain, moving from $25.56 to its current price.

Terra's Price Increased More Than 15% Within 24 hours

Terra's (CRYPTO: LUNA) price has increased 7.28% over the past 24 hours to $28.72. Over the past week, LUNA has experienced an uptick of over 27.0%, moving from $22.9 to its current price.

Crypto Terra (LUNA) Price Increased More Than 7% Within 24 hours

A popular crypto trader thinks one particular cryptocurrency is primed to continue its major run-up. In a new YouTube video, crypto trader and market analyst Lark Davis tells his 417,000 subscribers that he is eyeing the smart contract platform Terra (LUNA) as a major contender for the next leg of the bull run. Lark says […] The post This Surging Altcoin Is Primed to Ascend Higher, Says Crypto Trader Lark Davis appeared first on The Daily Hodl.

This Surging Altcoin Is Primed to Ascend Higher, Says Crypto Trader Lark Davis

On August 19, LUNA recorded its all-time high of about $33.4 with a 7-day gain of 72%. But why did the price of this 14th cryptocurrency by market cap skyrocket?

3 Reasons Behind LUNA Dramatic Price Increase

The Graph

Polygon

GoodFi, a not-for-profit organization with the mission of getting 100m people into DeFi by 2025, today announced leading DeFi projects Terra, Bancor, Polygon, and The Graph are joining the initiative.

Terra, Bancor, Polygon, The Graph Join GoodFi As The DeFi Alliance Launches DeFi Matchmaker Service To Grow The Industry

Bitcoin

Dogecoin

Ethereum

Major coins were in the green at press time on a 24-hour basis as the global cryptocurrency market cap rose 0.92% to $1.91 trillion on Wednesday night.

Bitcoin, Ethereum Flat, Dogecoin Spikes With Rest Of Crypto Market; Terra On The Moon As DeFi Party Continues

Over the past 24 hours, Terra's (CRYPTO: LUNA) price has risen 33.11% to $23.44. This continues its positive trend over the past week where it has experienced a 59.0% gain, moving from $14.17 to its current price.Over the past 24 hours, Terra's (CRYPTO: LUNA) price rose 33.11% to $23.44.

This Crypto Is Up By 33% In 24 Hours Outperforming Dogecoin Bitcoin And Ethereum

"Crypto natives have proven to be very resilient," one analyst said.

News for Terra Crypto (LUNA)