Bitcoin plunged below $30,000 for the first time in eleven months, as bears continued to run rampant in crypto markets. This move came as Luna Foundation Guard was said to be liquidating close to $1.5 billion worth of BTC. Ethereum also fell to multi-month lows, as prices hovered slightly above $2,200. Bitcoin Bitcoin fell for…
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A frantic effort to rescue UST continues as Bitcoin weathers the storm to receive a $35,000 target next. Bitcoin (BTC) fell below $30,000 for the first time in ten months on May 10 as turmoil at Blockchain protocol Terra continued. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price bounces at $29,700 Data from Cointelegraph…
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As bitcoin dropped to fresh new lows on Monday, the price of terra (LUNA) slid by 33.3% during the last 24 hours. Moreover, the project’s stablecoin terrausd (UST) has lost stability, dropping to $0.932008 per token. Additionally, the Luna Foundation Guard’s bitcoin wallet and ethereum Gnosis safe address has been emptied. **This article was updated…
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Excessive Terra supply coupled with UST supply contraction coincides with LUNA’s price decline. Terra (LUNA) has plunged significantly after witnessing a FUD attack on its native stablecoin TerraUSD (UST). The LUNA/USD pair dropped 20% between May 7 and May 8, hitting $61, its worst level in three months, after a whale mass-dumped $285 million worth of…
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Doom and gloom continues for Bitcoin markets as Terra’s Do Kwon brushes aside a “deliberate and coordinated” attack on its TerraUSD and LUNA tokens. Bitcoin (BTC) prepared for a rare bear feature to return on May 8 after an overnight sell-off took the market ever closer to January lows. BTC/USD 1-hour candle chart (Bitstamp). Source:…
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The total value locked inside the Anchor Protocol’s liquidity pools reached an all-time high earlier this week. Anchor Protocol (ANC) returned to its bullish form this May after plunging by over 70% in the previous two months. Pullback risks ahead ANC’s price rebounded by a little over 42.50% between May 1 and May 6, reaching…
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Despite Terra buying $1.5 billion worth of BTC this week, LUNA slipped to a six-week low to start the weekend. Overall, crypto markets remained in the red, however ALGO was one of the rare exceptions to record significant gains. Algorand (ALGO) ALGO was easily one of the biggest gainers during Saturday’s session, as prices rose…
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MATIC fell to its long-term support level on Saturday, following a surge in price during Friday’s session. This came as both RUNE and LUNA also dropped, and traded by as much as 5% lower to start the weekend. Polygon (MATIC) During what has been a bearish start to the weekend, MATIC was one of the…
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While the total value locked (TVL) in decentralized finance (defi) hovers just above the $214 billion mark, a defi protocol called Lido has been moving closer toward taking Curve’s top spot in terms of TVL in a defi protocol. Currently, the liquid staking solution Lido has $19.2 billion in staking assets derived from five different…
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LUNA continues to display strength as the crypto market trends to the downside. Despite the current short-term increase in selling pressure, this cryptocurrency managed to enter uncharted territory, and its price action hints at more upside. Related Reading | Inside Terra’s $2.38 Billion Reserves, What Made The Lineup? As seen in the chart below, LUNA has…
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