Each time, Wallet A deposited the inflow into Anchor .This made this account the sixth-largest holder of aUST as of Friday, May 6 . Following a critical seventy-five https://www.apzomedia.com/investing-in-terra-ust-powered-by-luna/ minute period on May 7, UST came off its peg in the Curve pools. The timeline of this period is noted below, with all transactions linked to Etherscan.
- To address concerns over the sustainability of the stablecoin, Kwon plans to buy up to $10 billion worth of bitcoin through a nonprofit called Luna Foundation Guard.
- The percent change in trading volume for this asset compared to 7 days ago.
- A Look At DAI, USDD, FRAX, and RAI Decentralized stablecoins are censorship-resistant and devoid of a single point of control.
Binance is not responsible for the reliability and accuracy of such third-party sites and their contents. Market cap is calculated by multiplying the asset’s circulating supply with its current price. The percent change in trading volume for this asset compared to 1 hour ago. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. Q Cryptocurrency Report As we reach the midpoint of the year, it looks like 2022 is shaping up to be an annus horribilis for the crypto market. The 24 hour trading volume of TerraClassicUSD is $43,319,023.
Former Coinbase manager faces insider trading charges, Three Arrows founders reveal ties to Terra
Over the three days from May 7 through May 9, Terra’s UST stablecoin deviated from its $1 peg in a sudden turn of events. After reviewing the publicly available transaction and exchange data, the research team at Jump Crypto has three key observations. Prosecutors in South Korea have asked Interpol to issue a red notice for Do Kwon, the founder of the TerraUSD algorithmic stablecoin that caused a cataclysmic crash of the cryptocurrency market in May 2022. The same applies vice versa — new luna is https://www.forexlive.com/ minted by burning UST and other algorithmic stablecoins that Terra supports. CoinGecko provides a fundamental analysis of the crypto market. In addition to tracking price, volume and market capitalisation, CoinGecko tracks community growth, open-source code development, major events and on-chain metrics. Lily Zhang told CoinDesk the lending platform’s problems were ill-timed following the collapse of the terraUSD stablecoin, and crypto prices could decline further; major altcoins regain ground.
Now, the pinned post on u/TerraLuna, a Reddit forum dedicated to the Luna cryptocurrency, is a series of links to help lines around the world, including Dotbig Terra altcoin the National Suicide Prevention Lifeline. The coin has shed 25% over the past week and is down 48% from its all-time high of $119 on April 5.
For a few days, however, the collapse of UST may have accelerated Bitcoin’s decline. This was expected — LFG sold billions worth of Bitcoin to repair the peg — but also short-lived. The accelerated decline ended around May 13 at roughly the close of UST’s collapse, at which point Bitcoin’s price action fell back in line with non-crypto tech assets. NewsBTC is a cryptocurrency Forex news news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies. Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization.
In November, the Biden administration called on Congress to quickly pass new legislations that would require stablecoins to be issued by insured banks Forex that are overseen by federal banking regulators. Yellen also said it is “highly appropriate” to draft legislation around stablecoins this year.