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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.

The DAO underpinning the Terra ecosystem has struck a sponsorship deal with the Washington Nationals, a professional baseball team in the US. The post Baseball team Washington Nationals inks sponsorship deal with Terra appeared first on The Block.

Baseball team Washington Nationals inks sponsorship deal with Terra

The MLB team's deal with the Terra network is even bigger than previously reported.

Washington Nationals to ‘Explore' Terra's UST Stablecoin in DAO-Approved Partnership Deal

A CoinDesk reporter turns internet sleuth to crack the team name Do Kwon won't identify.

Terra Wants to Spend $40M on a Mystery Sports Deal. We Think It's With This MLB Team

Polkadot

Ethereum

A popular crypto strategist and trader is outlining what's next for Ethereum (ETH) and its rivals Polkadot (DOT) and Terra (LUNA) as altcoins flash signs of life. Pseudonymous analyst Altcoin Sherpa tells his 167,100 Twitter followers that while leading smart contract platform Ethereum looks bullish on the lower timeframes, he warns that a correction is […] The post Here's What's Ahead for Ethereum (ETH), Polkadot (DOT) and Terra (LUNA), According to Top Crypto Strategist appeared first on The Daily Hodl.

Here's What's Ahead for Ethereum (ETH), Polkadot (DOT) and Terra (LUNA), According to Top Crypto Strategist

Pseudonymous Coin Bureau host Guys says that a top ten Ethereum (ETH) rival could rally by up to three times from its current price. In a new YouTube video, Guy tells his 1.92 million subscribers that algorithmic decentralized stablecoin platform Terra (LUNA) could rally up to 284%. According to Guy, the rally would be primarily […] The post This Ethereum Rival Has Potential To Surge by Over 280%, According to Coin Bureau appeared first on The Daily Hodl.

This Ethereum Rival Has Potential To Surge by Over 280%, According to Coin Bureau

Solana

Solana and Terra were both trading up by double digits at the time of writing—a reversal from the brutal January for coins. The post Crypto market stages comeback with Solana, Terra leading rally appeared first on The Block.

Crypto market stages comeback with Solana, Terra leading rally

Tezos

Several popular layer 1 cryptocurrencies including SOL, XTZ, and LUNA have enjoyed double-digit gains after a bearish month for the wider market. 

Layer 1 Networks Solana, Tezos, Terra Kick Off February With a Bang

Avalanche

All three coins lost at least one-third of their value to start 2022.

Ethereum 'Killers' Solana, Terra and Avalanche Got Killed in January

Real Vision CEO Raoul Pal says that Ethereum is set to rally and that two altcoins popular among investors may be ready to compete with ETH. In a new interview with Altcoin Daily, the macro guru says that a number of influential people whom he considers to be important investors are bullish on decentralized finance […] The post Macro Guru Raoul Pal Says Investors Bullish on Terra (LUNA) and Polkadot (DOT), Predicts Strong Rally for Ethereum appeared first on The Daily Hodl.

Macro Guru Raoul Pal Says Investors Bullish on Terra (LUNA) and Polkadot (DOT), Predicts Strong Rally for Ethereum

Cardano

Bitcoin

Polygon

A panel of cryptocurrency experts told Finder what their top cryptocurrency choices would be in a prolonged bear market.

Crypto Experts On The Best Coins To Hold In A Bear Market

A popular crypto strategist and trader says the crypto markets are showing early signs of recovery while predicting surges for Ethereum (ETH) its rival Terra (LUNA). Pseudonymous crypto analyst Pentoshi tells his 500,000 Twitter followers that the ongoing bounce in the Bitcoin (BTC) dominance chart is a positive development for the digital asset market. “First […] The post Crypto Analyst Says Markets Flashing First Sign of Health, Predicts Rallies in Ethereum (ETH) and Competitor Terra (LUNA) appeared first on The Daily Hodl.

Crypto Analyst Says Markets Flashing First Sign of Health, Predicts Rallies in Ethereum (ETH) and Competitor Terra (LUNA)

On Sunday, January 30, 2022, the top smart contract protocol tokens by market capitalization is $592 billion or 32.66% of the $1.8 trillion crypto economy. Meanwhile, the total-value locked (TVL) in decentralized finance (defi) protocols is $192.42 billion up 5.28% since January 23. Defi TVL Climbs More Than 5%, Ethereum Defi Dominance Still 60%, Cross-Chain […]

Value Locked in Defi Climbs Higher, Polkadot TVL Spikes, Terra's LUNA Sheds 21%

A crypto mega-whale just went on an altcoin buying spree and purchased $23.9 million worth of two digital assets. The blockchain-transaction tracker WhaleStats reveals that an unnamed Ethereum wallet bought 135,000 Terra (LUNA) for $6.72 million. Terra is a public blockchain protocol that underpins a suite of decentralized stablecoins. The ninth-ranked crypto asset is currently […] The post Massive Crypto Whale Quietly Accumulating One Ethereum Competitor and Top Gaming Altcoin appeared first on The Daily Hodl.

Massive Crypto Whale Quietly Accumulating One Ethereum Competitor and Top Gaming Altcoin

Terra (Luna) was one of this week's biggest crypto losers, falling by as much as 20% during Friday's session. Declines in terra came as cosmos (ATOM) also had a double-digit decline. Biggest gainers Although crypto markets were mainly trading in the red, symbol (XYM) was one of the rare exceptions to climb higher today. XYM […]

Technical Analysis: Terra Luna Drops 20%, While Symbol Token Climbs on Friday

Cosmos

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 Facing elevated user demand from ongoing growth and recent market volatility, L1 blockchains are continuing to confront the difficulties of scaling As new chains begin to emerge at an accelerated pace, deliberate strategies for concentrating liquidity are showing effectiveness in bootstrapping early ecosystem growth This week, we will take a look at Avalanche, Cosmos, Osmosis, Terra, and Polkadot, along with a brief update on Fantom and Solana

Layer by Layer Issue 18: Avalanche, Cosmos, Osmosis, Terra, Polkadot

Fantom

Algorand

The world's largest digital asset manager has provided a glimpse into which crypto investment products they're considering offering next. According to a new announcement, there are 25 crypto assets that Grayscale is considering for new investment products, including altcoins Cosmos (ATOM) and Fantom (FTM). “‘Assets Under Consideration' lists some digital assets that are not currently included […] The post Cosmos (ATOM), Fantom (FTM) and 23 Other Altcoins Added to Crypto Giant Grayscale's List of Assets Under Consideration appeared first on The Daily Hodl.

Cosmos (ATOM), Fantom (FTM) and 23 Other Altcoins Added to Crypto Giant Grayscale's List of Assets Under Consideration

Dogecoin

Chainlink

A closely followed crypto strategist is mapping out what's ahead for Ethereum-competitors Cardano (ADA), Polkadot (DOT), Terra (LUNA) and four other altcoins. Pseudonymous analyst Altcoin Sherpa tells his 165,700 Twitter followers that he's looking at where smart contract platform Cardano's price could potentially bounce. “ADA: since everyone's exposed to just altcoins, I'm going to be […] The post Here's What's Next for Cardano (ADA), Polkadot (DOT), Terra (LUNA) and Four Additional Altcoins, According to Top Crypto Trader appeared first on The Daily Hodl.

Here's What's Next for Cardano (ADA), Polkadot (DOT), Terra (LUNA) and Four Additional Altcoins, According to Top Crypto Trader

An autonomous bot that's been outperforming the crypto market by using data from weekly surveys of traders shows strong demand for Ethereum and three other altcoins.

As Markets Break Down, Traders Favor Ethereum (ETH), Solana (SOL), and Two More Altcoins, According to Crypto Algorithm

The Luna Foundation Guard, a new decentralized organization developed to support the Luna ecosystem, has been launched last week in Singapore. The institution will offer funding in the form of grants to support initiatives built on top of the Luna network. One of its biggest functions will be to establish a “forex reserve” that will […]

Luna Foundation Guard Launches to Support UST Peg as Stablecoin Blows Past $11B Market Cap

Shiba Inu

Crypto intelligence firm Santiment says that some altcoins may have already seen the worst of the latest industry-wide correction and that recovery may be around the corner. The firm says that meme coin Shiba Inu (SHIB), algorithmic stablecoin blockchain Terra (LUNA) and decentralized exchange (DEX) platform Pancakeswap (CAKE) are recovering from the market dip quicker […] The post Shiba Inu (SHIB), Terra (LUNA) and Pancakeswap (CAKE) Showing Signs of Recovery After Altcoins Correct: Santiment appeared first on The Daily Hodl.

Shiba Inu (SHIB), Terra (LUNA) and Pancakeswap (CAKE) Showing Signs of Recovery After Altcoins Correct: Santiment

As crypto markets inch along, tokens built on the Cosmos network are headed for greener pastures.

Cosmos-based Tokens Post Healthy Gains as Crypto Markets Trade Sideways

Real Vision CEO Raoul Pal says that five altcoins will perform well this year as he expects layer-1 altcoins and interoperable blockchains to shine. In a new interview with CoinMarketCap's Jessica Walker, Pal says that Bitcoin (BTC) and Ethereum (ETH) act as “base investments,” each for their own reason. “I look at it in terms […] The post Macro Guru Raoul Pal Says Terra (LUNA), Avalanche (AVAX) and Three Additional Altcoins Will Shine in 2022 appeared first on The Daily Hodl.

Macro Guru Raoul Pal Says Terra (LUNA), Avalanche (AVAX) and Three Additional Altcoins Will Shine in 2022

Crypto markets have shaken off last week's terrible slump. BTC and ETH are up, but altcoins are up more.

Bitcoin, Ethereum Begin Slow Rebound as Terra, Near, Dogecoin, Polygon Surge

On January 6, Terra Research announced a proposal to expand the network's stablecoin asset terrausd (UST) across a number of different protocols on Polygon, Ethereum, and Solana. Terra's governance blog post discusses how the proposal to leverage $139 million of UST can bolster “awesome use-cases” in the world of decentralized finance (defi). Terra Research Proposes […]

Terra Proposal Seeks to Expand UST Stablecoin to 5 Different Defi Protocols

Analysts at global banking giant JPMorgan say that Ethereum (ETH) competitors will challenge the top altcoin's decentralized finance (DeFi) dominance of the crypto markets this year. In a recent report, analysts led by JPMorgan managing director Nikolaos Panigirtzoglou say that ETH's 70% market share of the DeFi space will continue to drop because the blockchain's […] The post Terra (LUNA), Avalanche (AVAX) and Four Additional Ethereum Rivals Mounting Serious Challenge to ETH in 2022: JPMorgan Analysis appeared first on The Daily Hodl.

News for Terra Crypto (LUNA)