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| Luna 
| #LUNA
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| LUNA Price: | $1.24 | | Volume: | $1.0 B | | All Time High: | $10.11 | | Market Cap: | $0.4 B |
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| Circulating Supply: | 357,565,717 |
| Exchanges: | 23
| | Total Supply: | 1,000,000,000 |
| Markets: | 32
| | Max Supply: | — |
| Pairs: | 12
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The price of #LUNA today is $1.24 USD.
The lowest LUNA price for this period was $0, the highest was $1.24, and the exact current price of one LUNA crypto coin is $1.23541.
The all-time high LUNA coin price was $10.11.
Use our custom price calculator to see the hypothetical price of LUNA with market cap of ETH or other crypto coins. |
The code for Luna is also #LUNA.
Luna is 1.5 years old. |
The current market capitalization for Luna is $441,740,411.
Luna is ranking downwards to #100 out of all coins, by market cap (and other factors). |
The trading volume is huge today for #LUNA.
Today's 24-hour trading volume across all exchanges for Luna is $1,038,661,430. |
| The circulating supply of LUNA is 357,565,717 coins, which is 36% of the total coin supply. |
LUNA is the native coin for the Terra blockchain.
View the full list of Terra blockchain tokens. |
A coin that is related to #LUNA is #LUNC.
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Community Update — June 2023
Community Update — June 2023 - Terra’s resurgence continued in June with the official release of Warp Protocol and its $LUNA buyback and burn fee mechanism, Cavern’s deployment of auto-compounded LP collateral types, TFM’s launch of its aggregated limit order book, and much more! Let’s dive into everything that happened within the Terra ecosystem in June 👇 — 🌎 Ecosystem Updates - Following insightful community feedback, testing, and iteration, Warp Protocol had its official release, announcing plans to go interchain and leverage its fee mechanism to buy back and burn $LUNA., Astroport launched Warp-powered limit orders with future plans to integrate across each of its deployments on Injective, Neutron, and Sei., Astroport deployed Passive Concentrated Liquidity pools on testnet and announced plans to deploy on mainnet soon, setting the stage to increase liquidity efficiency across LPs on Terra., Cavern, a money market built on Terra, launched two new collateral types: auto-compounded LUNA-axlUSDC LP positions on both Eris and Spectrum. They also announced that they wouldn’t be taking 100% of the rewards from these LP positions, allowing borrowers to earn yield while borrowing., Cavern integrated Kado, enabling users to onboard into the TeFi ecosystem using fiat currencies like USD, EUR, and others., TFM unveiled its Aggregated Limit Order Book (ALOB): a novel Web3 product aggregating l... 
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Community Update — May 2023
Community Update — May 2023 - The month of May furnished the Terra community with several positive new developments. From Prism announcing its plan to establish an Alliance with LUNA upon chain debut to Carbon whitelisting ampLUNA and stLUNA as Alliance assets, there’s plenty to cover in this month’s update. Let’s dive into everything that happened!👇 — 🌎 Ecosystem Updates - Station launched Alliance staking, allowing users to seamlessly stake their Alliance assets across Alliance chains. Check out this walkthrough video from Jared to see how it works., TFM introduced a Cosmos-first with NFT limit orders., Back Bone Labs announced that its NFT marketplace, Necropolis, added support for new NFT collections and would only charge trading fees starting July 1st, 2023., TFM unveiled its new NFT aggregator, allowing users to research and buy NFTs across various marketplaces all in one interface., Orne released its Monthly Update for April., Noble.xyz announced that they’d be bringing native USDC to Station., Smart Stake launched Liquid Staking Token (LST) rich lists, allowing users to track the largest holders on Terra., Lion DAO started using @warp_protocol jobs to distribute ROAR staking rewards to community members automatically., Station welcomed the new Blossom and Moon themes, which users can toggle to in settings., TFL announced the Alliance Dashboard Bounty Program, offering up $1,000 worth ...
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Community Update — April 2023
Community Update — April 2023 - It’s not easy to ship cool shit when the entire world tries to FUD you to death, but that’s precisely what the Terra community did in April. From the unveiling of Terra’s cutting-edge new Alliance module to the introduction of Enterprise’s user-friendly, no-code DAO management platform, there’s a lot to unpack in this month’s update. Let’s get into it! 👇 — 🌎 Ecosystem Updates - Quick note: I also rolled a few March updates in here, as I didn’t get the chance to publish a March Community Update. TFL released Alliance, a powerful open-source economic tool enabling Cosmos blockchains to trade yield. By allowing multiple tokens to be staked on a single chain, earning native staking rewards, Alliance opens up a range of use cases that strengthen decentralized economies, including attracting users, liquidity, and developers, deepening liquidity for essential token pairs, incentivizing native application development, and diversifying or augmenting staking yield, Using Terra’s Alliance module, Migaloo enabled an industry first when @0xFab1e staked bLUNA on Migaloo, earning native WHALE staking rewards in exchange for augmenting native WHALE staking yield via the bLUNA Take Rate, Following the passing of prop 4717, I published a Medium article outlining what Alliance is, how it works, why chains like Migaloo and Kujira have decided to integrate it, and why it’s ...
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Alliance: Harnessing the Power of Incentive Alignment
Following an overwhelming vote of approval on proposal 4717, the LUNAtic community has successfully integrated the Alliance module into Terra mainnet, opening up a range of possibilities for growth and cross-chain collaboration. Alliance represents a paradigm shift in scaling decentralized economies. Let’s dive into how it works, why chains like Migaloo and Kujira have decided to integrate it, and what makes it the ideal tool for Terra. — How Alliance Works - An exciting feature that’s emerged from the Internet’s transition from Web2 to Web3 is the ability to enable large-scale coordination among disparate participants by utilizing economic incentives. As an open-source Cosmos SDK module, Alliance builds on this concept, empowering blockchains to align incentives with adjacent chains, developers, and users to strengthen and expand their ecosystem. At its core, Alliance aims to serve as an economic instrument that steers a decentralized economy’s monetary policy (i.e., staking rewards) toward achieving desired objectives. Functionally, this is accomplished by allowing users to stake multiple tokens on a single chain to earn a portion of native staking rewards — a feature never before possible in Web3. The module was designed with flexibility in mind, accommodating staking for any token, including IBC assets, stablecoins, LP tokens, and liquid staking derivatives (LSDs). Alliance was also carefully crafted...
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Project Spotlight — Eumlet
Project Spotlight — Eumlet - In this edition of Terra’s Project Spotlight, we are eager to present Eumlet — a revolutionary Next-Gen Payments Platform. 🤫 Pssst.. the app is live now at app.eumlet.com Eumlet is a business payments operating system designed for Web3. The platform offers businesses a range of tools to digitise payment processing, manage their accounts, and obtain valuable insights from their data efficiently and securely. Eumlet is committed to creating opportunities for businesses to benefit from the switch to Web3. The user-centric platform is feature-rich and designed to meet users where they are in their adoption journey. With the Fiat to Web3 Bridge, businesses can easily and securely convert traditional currencies to cryptocurrencies natively with no intermediaries — a first in architecture to directly connect traditional banking systems to Web3. — How it All Began - Eumlet began its journey in 2021 with the goal of empowering underserved SMEs to build a more sustainable and resilient future. Ultimately, Eumlet strives to accelerate Web3 adoption and win the fourth industrial revolution of digital cash through stablecoins. The Eumlet team has a combined 75+ years of experience in the technology and finance industries, building and scaling some of the largest systems for major financial institutions and hailing from tech-pedigree companies such as Microsoft, Google, and AWS. E...
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Community Update — February 2023
Community Update — February 2023 - Amidst ongoing challenges, the Terra community continued to prove its mettle in February, shipping products, launching new features, creating educational content, and actively engaging in governance discussions. Let’s dive into everything that happened this last month! — 🌎 Ecosystem Updates - The three-week Game of Alliance competition began, allowing users and validators to complete various missions and bounties for their chance to earn points and prizes, The Alliance Docs got an upgrade, adding a revamped overview page with use cases, an improved layout, infographics, and a detailed “How it Works” section, Warp Protocol launched on Terra’s Phoenix-1 mainnet, bringing unparalleled, decentralized automation capabilities to the TeFi ecosystem, TFL released the macOS beta version of Terrarium, a complete local Terra blockchain for developing and testing smart contracts, Genie launched its public beta, allowing protocols to create Web3 growth campaigns, CMDX and CMST were added to Station, Dexter Money released details on its tokenomics, Redacted Money added support for axlUSDC and axlUSDT, White Whale’s token, WHALE, started trading on Terra, White Whale announced that it would be integrating Eris Protocol’s liquid staking solution on its new chain, Migaloo, Astroport integrated limit order functionality, allowing Terra users to buy and sell Terra assets a...
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Community Update — January 2023
Community Update — January 2023 - The Terra ecosystem kicked off 2023 with a bang, announcing Station — an interchain wallet designed for simplicity and usability — several new products and features, three Alliance module integrations, and much more. Let’s get into it! — 🌎 Ecosystem Updates - TFL launched Station, a new interchain wallet incorporating chains like Mars, Osmosis, Axelar, and others, Enterprise Protocol released a deep dive into its roadmap and upcoming features, Sayve Protocol announced their IPC on Valkyrie Protocol, Apello launched their new Apello Sales Tracker Discord bot, allowing users to track NFT sales, Nauticus launched their V1 on Terra mainnet, TFL provided context on an issue with Jimmy Le not returning community funds to the Terra Community Pool, Illiquid Labs released their new NFT Multi-Sender and Airdropper tool, The community hosted a community AMA to discuss Enterprise Protocol and its roadmap, Nepture Finance provided a community update covering their money market, beta testing, risk frameworks, and integration docs, Knowhere.art announced it would officially close down marketplace services on Feb. 15th, 2023, Dexter, a new AMM building on Terra, announced its presence and focus on building toward the Alliance LSD wars, Arbie launched a browser extension allowing users to take advantage of arbitrage opportunities on Terra, as well as monitor token pric...
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Community Update — December 2022
Community Update — December 2022 - 2022 was a turbulent year for almost everyone within the crypto community. Still, as many take time off and wait patiently for the bear market to come to a close, LUNAtics remain focused on building the next generation of Web3 products and services. Let’s dive into the protocol launches, ecosystem developments, governance activity, and media features the Terra community saw in December! 👇 — 🌎 Ecosystem Updates - TFM became the first protocol to integrate DEX aggregation + NFT aggregation services on Terra, with additional features in its V2, Warp Protocol released its roadmap and discussed it on its community AMA, Warp Protocol published a Medium article outlining the protocol’s key functionalities and how they can be used to power the next generation of decentralized applications, Enterprise Protocol published a Medium article breaking down how its DAO management solution enables decentralized communities to organize and manage their DAOs, improving their flexibility, governance, and transparency, Warp and Enterprise released links to their community Discord and Telegram channels, Prism announced Prism V2, a yield-optimized L1 utilizing a hub and spoke model, Hermes Protocol made it possible to explore the blockchain without leaving Discord and introduced a new notifications API, Astroport delayed its $ASTRO unlocks by six months, Genie by Coinhall released a sign...
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Introducing Station
Terra’s first step towards building the interface to Web3 is complete. We’re thrilled to announce the launch of Station 🛰 — an interchain wallet that simplifies the often complex, cumbersome process of interacting with multiple blockchain networks. With Station, users can easily stake, vote, send and receive tokens, and interact with their favorite dApps across all supported chains. Download Station on Mac, Download Station on Mac — M1 Chip, Download Station on Windows, Download Station on Linux (.rpm), Download Station on Linux (.deb), Download the Station Chrome extension, Download the Station Firefox add-on, Visit the Station web app, Note: If you already have Terra Station downloaded on your desktop, Chrome, or Firefox, reopen the app or refresh the extension, and you will be updated to interchain Station. — Defining the Future of the Interchain - At Terra, we envision a multi-chain future — one in which decentralized blockchain economies can align incentives with one another by creating bilateral, mutually beneficial economic agreements, and creating a new chain takes mere minutes. Station paves the foundation for this vision, providing those that automate chain genesis via Feather with immediate interchain wallet functionality, and supplying those chains that form economic alliances with others via Alliance with an easy-to-use, easy-to-integrate wallet to execute cross-chain transac...
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Community Update — November 2022
Community Update — November 2022 - November was a banner month for Terra and the LUNAtic community. Aside from exciting new launches, updates, and governance activity, the future of Terra began to take shape. It’s becoming clear: Terra is soon to position itself as the interface to Web3. When every win matters, we’d be remiss not to call them all out. Onwards with your November community update! — 🌎 Ecosystem Updates - Harbor Protocol announces details around their airdrop, Stader Labs drops a new UI upgrade that enhances their staking experience on Terra, Do Kwon presents a proposal to position Terra at the center of the interchain, unveiling ideas for Feather, Alliance, and cross-chain Station/Finder, Alliance, a Cosmos SDK module that leverages interchain staking to form economic alliances among blockchains, introduces itself to the world, Coinhall’s Seer launches real-time data indexing infrastructure for the Cosmos ecosystem, Enterprise Protocol, a no-code solution to DAO management, launches in beta, Warp Protocol goes live on Terra’s testnet, bringing limitless on-chain automation to the Terra ecosystem, PRISM announces the launch of the prism validator and $PRISM airdrop, Based on the Genesis $LUNA airdrop schedules, vesting $LUNA begins to vest, Soil Protocol releases a video tutorial on how to launch an NFT project on Terra, TERRAN.ONE releases CWSimulate, an online playground and vi...
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 | Do Kwon: What Happened To The Terra Luna Founder?
Few names have sparked as much intrigue and controversy as Do Kwon (sometimes called Kwon Do). From the meteoric rise of Terra Luna to its sudden and tumultuous downfall, Do Kwon has become a figure of significant interest and speculation.
In this comprehensive exploration, we delve into the journey of Terra Luna’s Do Kwon, the mastermind behind one of the most talked-about projects in the crypto world. We'll uncover the latest Do Kwon news that has kept the crypto community on its toes, analyze the Do Kwon net worth, and shed light into the future of Terra Luna without its founder.
Who is Do Kwon? Do Kwon, whose full name is Kwon Do-hyung, is a South Korean crypto entrepreneur renowned as the co-founder and CEO of Terraform Labs. Born on September 6, 1991, in Seoul, South Korea, he has become a prominent figure in the cryptocurrency industry.
Kwon Do-hyung’s early education took place at Daewon Foreign Language High School in Seoul, one of South Korea's most prestigious private schools. Furthermore, his academic journey led him to Stanford University in the United States, where he pursued a degree in computer science, laying the groundwork for his future endeavors in the tech and crypto industries.
Tracing The Origins: The Path To Crypto Fame
After graduating from Stanford in 2015, Kwon Do-hyung returned to South Korea in 2016 and founded Anyfi, a connectivity solutions startup. Anyfi, which focused on a peer-to-peer Wi-Fi mesh network, was Do.Kwon's initial for...
|  | Analyst Predicts Terra LUNA To Surge By 80-100% Following Key Event
LUNA, the native token of the Terra 2.0 blockchain, was among the many gainers in the past week positively affected by Bitcoin’s impressive rally toward the $35,000 mark.
According to data from CoinMarketCap, LUNA is up by 13.96% in the last seven days, providing some relief for investors who have had to endure the token’s bearish form in the previous weeks leading to this price rise.
As expected, LUNA’s current bullish form has now attracted much attention, with some analysts speculating there could be more gains in the coming weeks.
LUNA Could Double Its Value After Breaching Major Trendline, Analyst Says
In a post on X on Sunday, crypto analyst Captain Faibik shared with his 67,000 followers an intriguing bullish prediction on LUNA’s price trajectory.
Faibik, who claimed to not be a LUNA enthusiast, noted that the altcoin has recently broken a major bearish trendline and could potentially gain by 80-100%.
I may not be a fan of this coin, but I receive frequent Chart Requests for it.$LUNA has broken a Major trendline and could potentially see a bullish rally of 80-100%. #Crypto #LUNA #LUNAUSDT pic.twitter.com/R9UEmxK2Bx
— Captain Faibik (@CryptoFaibik) October 29, 2023
According to Faibik’s analysis, LUNA traded above $0.47 in the past week, breaching a bearish trendline that stretches as far back as January 2023 on the token’s daily chart.
Traditionally, trendlines are used by traders to connect several price points ...
|  | Terra Luna Classic Price Near-Term Advance – Will LUNC Climb 25%?
Terra Luna Classic (LUNC) has embarked on a six-month journey marked by a consistent downtrend, largely influenced by the gravitational pull of a so-called descending channel pattern. This pattern, characterized by successive lower highs and lows, mirrors an active market sentiment favoring sales during attempts at bullish rebounds.
Mid-August proved to be a pivotal juncture for LUNC as aggressive selling surged, triggering a precipitous plunge from $0.0000658 to $0.0000523. This swift and significant 34% drop led to a critical retest of the support trendline intrinsic to the falling channel pattern.
Interestingly, the coin's value exhibited resilience through multiple instances of dynamic rebounds, translating to intermittent bullish bounces in its ongoing recovery phase.
Terra Luna Classic Chart Hints Signs Of Resurgence
Delving into the price analysis, the daily chart unfolded a compelling narrative with a long-tailed rejection manifesting at the lower boundary of the channel pattern, commencing on August 17. This occurrence effectively signaled an undercurrent of demand pressure. Capitalizing on this support, the price rebounded vigorously, propelling it upwards by 22%, currently resting at $0.0000638.
Should LUNC's price sustain its position above $0.6 in the coming days, a beacon of hope emerges for buyers to potentially spearhead a rally of up to 25%, culminating in a rendezvous with the overhead trendline of the channel. Yet, the market's true affirmation of a...
|  | Trader Who Placed $10 Million Bet Against LUNA Loading Up Reddit's Moons
In a new development, a trader who placed a substantial $10 million bet against LUNA in May 2022 before the then native currency and UST—the algorithmic stablecoin, collapsed is now setting his sight on Reddit Moons. Going by the moniker 'GCR,' on-chain data on August 8 showed the trader moved 450,000 MOON from MEXC Exchange to Kraken.
Moons Rallying
Moons, the ERC-20 token associated with the r/CryptoCurrency forum on Reddit, is firm and on an uptrend, looking at current price action. At spot rates, the token is up 400% from late July and changing hands at $0.47, hovering near 2023 highs.
Based on price action from MEXC trade data, the immediate resistance level is at $0.65, which was printed in late July 2023. However, with the revival currently visible across the crypto market, prices will likely continue increasing. To illustrate, Moons is already up 90% in August alone, rebounding from $0.25 and surging to spot rates.
Several factors are believed to be fanning demand. One of these is the influence of traders like GCR, who are acquiring Moons and potentially improving sentiment on altcoins considering the recent lower lows recorded in the better part of July.
However, looking at how MOON prices reacted after Kraken's listing on August 7, the community appears more buoyant and confident of improving liquidity.
Kraken Listing
As trackers reveal, before the Kraken listing, most Moons trading activity was concentrated on MEXC Exchange. On August 7, ...
|  | Terra Luna Token Burn Proposal Greenlit – Could $1 Be Hittable?
Terra Luna has seen the successful approval of community proposals 11658 and 11660, authorizing the retrieval and subsequent incineration of a total of 800 million USTC. The prevailing sentiment within the community leans towards directing these USTC tokens towards the burn address as opposed to reintegrating them into the community pool.
Conversely, a noteworthy shift has been detected in LUNC's staking ratio within the past day, where a previous upward trajectory has now given way to a decline. This alteration in the staking ratio commonly signifies reduced assurance among stakers regarding a specific asset.
Here’s what’s going on within the struggling Terra community:
Recent Community Decisions Shape Terra Luna Future
In a significant turn of events, Proposal 11658 titled 'Return of Community funds not used,' presented by Vegas, a former member of the ex-Terra Rebels developer group, has achieved approval with an affirmative vote percentage of 70.27%.
And it seems that once again.someone is fighting against us... So the 200 milion ustc that RH have 'missed' used.. is one of the reasons that I was so vocal to not send all the rest of the funds to the CP. Now seems that is already moviments asking the signers to not do,the 11658…
— Vegas (@VegasMorph) August 8, 2023
Vegas has advocated for the reintegration of 800 million USTC on-chain funds back into the Terra Luna Classic community pool. This proposition stems from the observation that the Ozone ...
|  | South Korean Court Rules Luna Is Not a Security: Report
A South Korean District Court has declared that LUNA, the native token of the Terra ecosystem, is not a security.
The court also dismissed prosecutors' requests to confiscate properties belonging to Singapore-based Terraform Labs co-founder Shin Hyun-Seong, and also arrest him along with other executives of the Singapore-based project.
LUNA Is Not a Security Token
The Seoul Southern District Court categorically stated that LUNA is not considered a security, according to a report by a local media outlet, ilyo on April 24. The court, in its ruling, said, 'It is difficult to view LUNA Coin as a financial investment product regulated by the Capital Markets Act.'
Meanwhile, the latest ruling is notable in that other courts have not been clear on whether Luna is a securities token or not.
Also, the court rejected multiple requests from prosecutors to issue an arrest warrant for the Terraform Lab's co-founder and other executives, as stated by Shin's lawyer. In addition, the Southern District Court in Seoul dismissed the prosecution's claims to confiscate Shin's properties, stating that 'it is difficult to see that the property subject to the claim is a property acquired by a crime or an asset derived from it.'
As previously reported by CryptoPotato, the Terraform Labs co-founder appeared for interrogation in the Seoul District Court regarding his involvement in the collapse of LUNA and algorithmic stablecoin UST, which resulted in losses worth $40 billion for users.
According to So...
|  | SEC Sues Terraform Labs and Do Kwon for Crypto Fraud Involving UST and L...
On February 16th, the US Securities and Exchange Commission (SEC) accused Terraform Labs, the Singapore-based company behind the creation of LUNA and UST - native tokens of the Terra ecosystem - and its co-founder Do Kwon of promoting a multi-billion dollar fraud by offering and selling unregistered securities through the use of crypto assets.
The SEC's complaint - filed in the US District Court for the Southern District of New York - argues that the fraudulent scheme promoted by Kwon and Terraform caused losses of billions of dollars to both retail and institutional investors using different investment channels.
Today we charged Singapore-based Terraform Labs PTE Ltd and Do Hyeong Kwon with orchestrating a multi-billion-dollar crypto asset securities fraud involving an algorithmic stablecoin and other crypto asset securities.
— U.S. Securities and Exchange Commission (@SECGov) February 16, 2023
Marketing of Unregistered Securities
The SEC alleges that the defendants marketed unregistered securities of crypto assets to seek their own benefit 'by repeatedly claiming that the tokens increased in value.'
Terraform promoted its stablecoin UST as 'yield-bearing,' paying up to 20% interest through the lending and borrowing protocol 'Anchor.' According to the agency, they 'repeatedly misled investors' by claiming that they were working alongside a Korean mobile payment application that used Terra's blockchain to settle transactions that would invalidate the value of LUNA.
Th...
|  | Former CEO of TMON Gets an Arrest Warrant for Allegedly Receiving LUNA B...
The South Korean authorities reportedly issued an arrest warrant to a former Chief Executive Officer of the e-commerce giant TMON.
He supposedly accepted bribes in Terra (LUNA) worth billions of won to promote the infamous blockchain project.
Terra Keeps Splashing the Water
As reported by a local media outlet, an ex-boss of the Korean e-commerce company TMON was slapped with an arrest warrant due to his interaction with the collapsed cryptocurrency project Terraform Labs. Prosecutors accused him of receiving bribery in the form of LUNA tokens to advertise the failed project's products.
In addition, Daniel Shin - Co-Founder of Terraform Labs and Co-Creator of TMON - allegedly requested the former CEO to introduce LUNA as a payment method on the platform.
Investigators believe the potential wrongdoer made significant profits after cashing out the accepted digital assets. The arrest warrant is to be reviewed on February 17.
The crash of Terra's native token - LUNA - and its algorithmic stablecoin - UST - in May last year still echoes across the cryptocurrency space. It triggered severe investor losses, and some people even committed suicide.
The main culprit (according to many) - Do Kwon - was reluctant to cooperate with law enforcement agencies on the issue and escaped his homeland. His whereabouts are still unknown, as sources previously indicated he could be hiding in Dubai, Russia, and Mauritius.
Has Kwon Found Shelter in Serbia?
Despite promising to reveal ...
|  | Terra Luna Classic Skyrockets 15% Daily, Bitcoin Aimed at $17K (Market W...
Over the past 24 hours, the cryptocurrency market remained relatively calm - perhaps somewhat expectedly, given the Christmas holidays. This is also reflected in the diminishing daily trading volume. However, some cryptocurrencies managed to chart notable gains.
Bitcoin Aims at $17K
Bitcoin's price is trading more or less than it was yesterday at this time. It appears that the cryptocurrency is consolidating closely below the important resistance level of $17K.
Source: TradingView
Data from CoinGecko shows that the BTC dominance continues increasing, albeit slightly. This is the most common means of gauging its growing share relative to that of the rest of the market and also suggests that altcoins are failing to catch up.
Ripple is up 5%, LUNC Soars 14%
Speaking of altcoins, the majority of the market remained relatively calm, with slight exceptions.
The best performer from the top 10 was Ripple's XRP. It managed to increase by a considerable 5.6% in the past 24 hours and is currently trading at around $0.37.
Source: Quantify Crypto
ETH, BNB, DOGE, Cardano, and Polygon are all charting smaller differences - nothing too considerable.
Elsewhere, the best performer of the top 100 coins by means of total market cap is Terra Luna Classic (LUNC) - it's up almost 15% in the past 24 hours. QNT and LDO are also charting notable gains of around 8%.
On the other end of the spectrum, Chain's XCN is down 5% - making it the worst performer today. NEXO is down 3.5%.
The post Terra Luna Cla...
|  | Terra Luna Classic Up 6% On Rumor That Coinbase Is Buying LUNC
The collapse of Terra Luna and algorithmic stablecoin TerraUSD in May was one of the biggest setbacks for the broader crypto market this year. The previously thriving Terra ecosystem was completely wiped out in a matter of days, except for the Terra Luna token, which was resurrected as Terra Luna Classic (LUNC) by the community.
Despite losing more than 99% of its value, the cryptocurrency still has one of the most active crypto communities on social media. And from it springs a rumor today that has pumped the price of LUNC by 6%. The rumor says that the second largest exchange in the world by trading volume, Coinbase, might buy the LUNC token in large quantities.
Will Coinbase Buy Terra Luna Classic? Within the LUNC community, the news that Coinbase has authorized the purchase of $245 million in LUNC is currently spreading like wildfire. The speculation also indicates that the American exchange will make the news public on January 3, 2023, and provide information about additional LUNC burns.
BREAKING NEWS
Coinbase has just authorized the purchase of 245 million dollars in $LUNC. Internal source says that on the 3rd to announce publicly listing more off-chain burns.
— WSB Trader Rocko (@traderrocko) December 22, 2022
However, it is important to note that Coinbase has not yet issued an official statement on the matter. The various tweets also do not indicate a source, but merely make the claim based on a supposed source. Who this source of information is, whether it is...
|  | Bear Market, Luna Crash, FTX Meltdown: How it Impacted Crypto's Public P...
A recent study conducted by CNBC estimated that only 8% of American participants currently have a favorable view of cryptocurrencies.
Those who supported the asset class in March 2022 were 19%. The market has been through a lot since then - the prices plummeted, the Terra ecosystem crashed, and FTX filed for bankruptcy.
Change of Trends
43% of the US participants in CNBC's 'All-America Economic Survey' said they have a negative view of digital currencies, while this figure was 25% nine months ago. The proponents of the asset class have shrunk to 8%, down from 19%, and 18% feel neutral.
Despite the results, 24% of the respondents admitted having invested, traded, or used crypto in the past (up 6% from the March results).
17% of those who have allocated some of their wealth in bitcoin or altcoins have a 'very negative' stance, while 47% of the non-investors showed such an attitude.
The increased criticism could be a result of the numerous adverse events that the world of crypto endured throughout the ongoing year, with Terra's collapse and the crash of FTX being some of them. Former giants like Celsius, Three Arrows Capital, BlockFi, and many others filed for bankruptcy, while the global crypto market capitalization has slipped below $1 trillion.
The rise of negativity toward cryptocurrencies coincides with record-low confidence in stocks. Only 26% of the participants believe now is the right moment to invest in equities which is the most pessimistic l...
|  | Luna Classic (LUNC) Price Under Bearish Pull Despite New Developments
The LUNA Classic (LUNC) price has noted a fresh decline in the last 24 hours. In that time frame, the altcoin depreciated by 1%. In the past week, LUNC logged gains worth 2.5%. Much of the weekly gains have been lost due to losses on the daily chart.
At the moment, LUNC depicts consolidation beneath its immediate resistance mark. With the FTX collapse, LUNC has been teetering under a bearish influence for quite some time. Over the last month, the coin has lost more than 10% of its market value.
On the development front, there is a new update. This is the introduction of the new Alpha package for TerraDart. TerraDart is a Dart SDK that is used for writing applications that would be interacting with the Terra blockchain, which has launched a new package called Alpha. The altcoin just fell from $0.000170 due to intra-day losses. Even with developments in the ecosystem, the LUNC price remains largely unaltered. The rigid price ceiling was at $0.000175, but demand for the coin was too low for bulls to take charge. Once the altcoin topples above the $0.000175 mark, it will be an easy path to the psychological level of $0.00019.
On the flip side, with lesser accumulation, LUNC would eye its closest support line of $0.000148. Falling through the $0.000148 mark will bring LUNC to $0.00012. The amount of LUNC traded in the last session was low, indicating bearish strength.
Technical Analysis
In the past month, the coin displayed a bullish divergence, after which LUNC noted a slight in...
|  | Analysis of FTX and Alameda Collapse Points to Terra LUNA Fallout Starti...
An analysis of the FTX and Alameda Research collapse has been published by the blockchain and crypto analytics firm Nansen and the report notes that the Terra stablecoin collapse, and the liquidity crunch that ensued, likely started the domino effect that led to the company’s implosion. The study from Nansen further details that “FTX and Alameda have had close ties since the very beginning.”Report Shows Terra LUNA Collapse and Intermingled Relationships May Have Initiated FTX's and Alameda's Demise
On Nov. 17, 2022, five researchers from the Nansen team published a blockchain analysis and comprehensive look at the “The Collapse of Alameda and FTX.” The report notes that FTX and Alameda had “close ties,” and blockchain records confirm this fact. FTX’s and Alameda’s rise to the top started with the FTT token launch and the “two of them shared the majority of the total FTT supply which did not really enter into circulation,” Nansen researchers detailed.
FTX and FTT’s meteoric scaling led to Alameda’s swelling balance sheet which “was likely used as collateral by Alameda to borrow against.” Nansen researchers detail that if the borrowed funds were leveraged to make illiquid investments, then “FTT would become a central weakness for Alameda.” Nansen researchers say weaknesses began to show when Terra’s once-stable coin UST depegged and caused a massive liquidity crunch. This...
|  | Terra's $2.8B Defense System — Luna Foundation Guard Audit Says Gr...
Months after the collapse of Terra's U.S. dollar-pegged token UST, the organization created to protect the once-stable coin, the Luna Foundation Guard (LFG), published an audit report audited by the New York-based consultancy company JS Held. According to the report, LFG claims to have spent 80,081 bitcoin and 49.8 million stablecoins, which add up to roughly $2.8 billion to defend UST's peg.LFG Audit by JS Held Claims Group Defended UST Peg With $2.8 Billion in Crypto Assets
On Nov. 16, 2022, months after the mid-May Terra stablecoin depegging event, the Luna Foundation Guard (LFG) published a blog post concerning an audited transparency report that claims the organization spent $2.8 billion in crypto assets defending UST. The once stable coin UST is now called terrausd classic (USTC), and it's currently trading for $0.02 per unit on Nov. 16, 2022.
Terraform Labs co-founder Do Kwon also tweeted about the audit on Wednesday. 'A third-party audit of LFG and TFL's peg defense activity during May 2022 has been published,' Kwon tweeted. Terra's co-creator further added:
Many of you lost a lot of money in UST - for this I am sorry. While the system was transparent and open source, I as its creator should have understood and communicated its risks better.
In the report published by the LFG, it says that the technical audit was done by the New York firm JS Held. It defends both LFG's and Terraform Labs' (TFL) actions during the UST depegging event. 'LFG spent ~$2.8B (80,081 BTC and ...
|  | Luna Foundation Guard, TFL Spent $3.4 Billion to Defend UST Peg: Report
A new audit report revealed that the two entities behind the Terra ecosystem, LFG and TFL - collectively spent more than $3.4 billion between May 8th-12th, 2022, to defend the peg of the fallen stablecoin.
The main objective of the audit was to bring 'transparency' into the peg defense activity and dispel reports of fund misappropriation, embezzlement, and theft.
Technical Audit Report
Luna Foundation Guard (LFG) - a fund focused on the Terra ecosystem, revealed spending $2.8 billion (80,081 BTC and 49.8 million stablecoins) to defend the UST peg. A newly published technical audit was conducted by a third-party auditing firm, JS Held.
The report further stated the Terra developer - Terraform Labs (TFL), spent over $613 million of its proprietary capital on TerraUSD's peg defense. The paper also noted that LFG was 100% funded by donations from the former to develop 'exogenous' reserves for Terra stablecoins.
However, those reserves failed to help extreme market volatility. As a result of the exposure to the Terra ecosystem, several entities in the crypto industry, including lenders, brokers, and exchanges, had to file for bankruptcy protection.
Terra's Collapse Different From Other Failures
Do Kwon, the controversial founder of TFL, however, believes Terra's collapse is very different from the 'recent failures in crypto.' The exec, who was issued Interpol's red notice, said both TFL and LFG did everything within their resources to prevent that outcome, while this isn't the cas...
|  | Report: Deleted Files Indicate Crypto Lender Hodlnaut's Execs Gave Littl...
According to a report, the embattled crypto lender Hodlnaut saw a significant loss from the Terra blockchain collapse last May. The report notes that Hodlnaut downplayed the company's exposure to the Terra ecosystem and allegedly lost $190 million from the incident. Report Says Hodlnaut Downplayed Terra Exposure Following the Collapse
More than 1,000 deleted documents from the crypto lender Hodlnaut's Google workspace have shown discrepancies, according to a judicial report discovered by Bloomberg on Oct. 31. The judicial report confirms the court filings published at the end of August that said Hodlnaut suffered a significant financial shortfall from the Terra collapse.
Bloomberg's Suvashree Ghosh and Sidhartha Shukla explain that the judicial report shows the crypto lender 'suffered a near $190 million loss from the wipeout.' The newly discovered deleted documents show Hodlnaut executives allegedly downplayed the exposure to Terra. Hodlnaut also tweeted on May 11 that it was not all-in on the now-depegged stablecoin terrausd (UST).
'Hodlnaut is NOT all-in on UST as one particular rumour on Reddit has mentioned. This is a false claim,' the crypto lender tweeted during the collapse. 'Yields on USDC/USDT/DAI are generated in-kind and paid by our loans to institutions and a small amount to defi protocols like Compound Finance,' Hodlnaut insisted.
'It appears that the directors had downplayed the extent of the group's exposure to Terra/Luna both during the period leading up to a...
|  | Terra Coin Price Balloons 30% – But Can LUNA Reach Higher Terrain?
Terra (LUNA) woke up to a good day on Wednesday as the token made an impressive 30% jump in its price on the way to tallying a high of $3.08.
Terra accounted for 25.06% of the entire token holdings among the top 100 ETH whales
LUNA price surged by 30% today and hit $3.08
Bullish momentum is possible and trading price might reach $3.25
The crypto, though, immediately experienced price correction as it is trading at $2.69 at press time according to tracking from Coingecko.
Still, Terra is looking at a 5.5% increase for the past seven days and a higher jump of 7.4% for the past two weeks.
It is still miles away from its all-time high of $18.87 attained in March 28 of this year, losing 85.6% of that value.
The good news is that it is currently up by 77.6% of from its all-time low of $1.53 hit on August 29, 2022.
Terra Surges As It Flips Lido Staked ETH Tokens
According to online crypto information source WhaleStats, Terra became the top holding by dollars of the top 100 Ethereum whales, accounting for 25.06% of all token holdings.
In doing so, LUNA was able to edge out Lido staked ETH (stETH) tokens and even surpassed USDC and USDT holdings of the whales.
In total, Ethereum whales included in the top 100 held around $820 million worth of Terra digital coin.
The wormhole interoperability protocol asset was then leveraged by the Ethereum whales to exit liquidity, causing the unprecedented rally that pushed LUNA price to grow by 30%.
Terra also witnessed a 150% increase in its tr...
|  | South Korea Reportedly Freezes Do Kwon's Crypto Worth $40M — Luna ...
South Korean authorities have reportedly frozen $40 million in crypto assets, including bitcoin, allegedly belonging to Luna founder Do Kwon. However, Kwon denied that any funds of his have been frozen. 'I don't even use Kucoin and Okex, have no time to trade, no funds have been frozen,' he insisted.Prosecutors Say They've Frozen Do Kwon's Crypto, Including Bitcoin
South Korean prosecutors have reportedly frozen nearly $40 million in crypto assets allegedly belonging to Terraform Labs co-founder Kwon Do-hyeong (also known as Do Kwon). Citing Korean publication News1, journalist Colin Wu tweeted Wednesday:
South Korean prosecutors have frozen $39.66 million of crypto assets, including BTC, owned by Do Kwon through two exchanges. Do Kwon and LFG previously denied trying to transfer their 3,313 BTC after being issued an arrest warrant.
The coins were frozen at cryptocurrency exchanges Kucoin and Okx, the publication noted, adding that the two trading platforms have agreed to freeze Kwon's crypto at the request of the prosecution.
South Korean prosecutors revealed last month that they were seeking to freeze 3,313 bitcoins tied to Kwon that were transferred to Kucoin and Okx from a wallet allegedly linked to Luna Foundation Guard (LFG). However, the organization denied the allegation, insisting that it 'hasn't created any new wallets or moved BTC or other tokens held by LFG since May 2022.'
Following the news of the prosecutors freezing $39.66 million in crypto belonging to him, K...
|  | South Korea Seeks to Freeze 3,313 Bitcoin Allegedly Linked to Luna Found...
South Korean prosecutors are seeking to freeze 3,313 bitcoins at two cryptocurrency exchanges allegedly tied to luna founder Do Kwon. The coins were moved soon after a South Korean court issued an arrest warrant for the Terraform Labs co-founder. Luna Foundation Guard has denied transferring the coins.Korean Authorities Ask Crypto Exchanges to Freeze Bitcoin
South Korean authorities have reportedly asked cryptocurrency exchanges Kucoin and Okx to freeze 3,313 bitcoins allegedly tied to Terraform Labs co-founder Kwon Do-hyung, also known as Do Kwon. The coins were transferred to the trading platforms soon after a warrant was issued for Kwon's arrest in South Korea.
On Tuesday, an official at the Seoul Southern District Prosecutors' Office confirmed to Bloomberg that requests have been sent to the two cryptocurrency exchanges to freeze the 3,313 BTC.
The coins were transferred to the trading platforms from a wallet allegedly linked to Luna Foundation Guard (LFG) that was created on Sept. 15, according to crypto researcher Cryptoquant. The researcher told the publication:
Cryptoquant specified new bitcoin addresses owned by LFG based on transaction patterns, adjacent flows and material non-public information.
However, Luna Foundation Guard denied the allegation Tuesday evening. The group tweeted its treasury's bitcoin address, adding: 'LFG hasn't created any new wallets or moved BTC or other tokens held by LFG since May 2022.'
Do Kwon Says: 'I'm Making Zero Effort to Hide'
The ...
|  | Global Manhunt for Terra Luna Founder Do Kwon After Interpol Issues Red ...
The global law enforcement agency the International Criminal Police Organization (Interpol), issued a notice for Terraform Labs co-founder Do Kwon just a few weeks after a warrant for his arrest was issued by South Korean authorities. The red notice enables South Korea to receive help from global law enforcement bodies in locating and 'provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.' Global Manhunt for Terraform Labs CEO
Just a few weeks after South Korean authorities issued an arrest warrant for Do Kwon and his associates, the global law enforcement agency the International Criminal Police Organization (Interpol) has reportedly issued a red notice for the Terraform Labs co-founder. The issuing of the notice follows reports that Kwon is not residing in Singapore as Korean authorities initially thought.
According to Interpol, red notices are 'issued for fugitives wanted either for prosecution or to serve a sentence.' The red notice enables South Korea to receive help from global law enforcement bodies in locating and 'provisionally arrest[ing] a person pending extradition, surrender, or similar legal action.'
Do Kwon's Silence
As reported by Bitcoin.com News, South Korean prosecutors accuse Kwon and five other Terraform Labs affiliates of violating the country's capital markets law. Kwon also faces other charges that prosecutors have not divulged.
In his initial response to reports that Korean authorities had issued an arrest warran...
|  | Luna Classic Adds Over 50% In 24H After Interpol's Red Notice Slammed It...
Early hours of Monday, September 26, Interpol issued a Red Notice against the founder of Luna Classic, DO Kwon. This issuance resulted from Do Kwon losing more than $60 billion in investors’ wealth.
The prosecutors in South Korea explained that Kwon is facing charges for the erosion of investors’ money. This article details events surrounding Do Kwon and how he made it into Interpol’s most wanted List.
Earlier Developments Leading To Kwon’s Red Notice
Earlier this year, the Terra ecosystem collapsed, unheard of in an evolving Defi space. The crash hurt the crypto market, with other financial markets feeling its effects. Crypto Analysts believe that investors lost over $45 billion in wealth.
After the crash, he relocated Terra Headquarters from South Korea to Singapore due to being under investigation for tax evasion charges in South Korea. In an interview, the Terra founder said he would cooperate with investigative agencies in the Terra crash and has nothing to hide. Further, Do Kwon acclaimed that he is a man with an “extremely high bar of integrity.”
However, South Korean prosecutors explicitly refute Do Kwon’s statement claiming he was not cooperating and was obviously on the run. As a result, Interpol has issued a Red Notice on the Terra founder in over 196 countries.
LUNC's price is currently hovering around $0.00031. | Source: LUNCUSD price chart from TradingView.com
Terra Classic Price Crash And Reversa...
|  | Luna Founder Do Kwon Isn't in Singapore, Police Say After South Korean C...
Terraform Labs founder Do Kwon is not in Singapore, local police say. Accused of fraud after the collapse of cryptocurrencies luna and terrausd, he is wanted in South Korea after a court issued an arrest warrant for him. However, Kwon insists that he is not 'on the run.'Police Say Do Kwon Isn't in Singapore
The Singapore police force (SPF) reportedly said on Saturday that Terraform Labs founder Kwon Do-hyung, also known as Do Kwon, is currently not in the city-state. In an email response to an inquiry by the AFP, the police said:
Do Kwon is currently not in Singapore. SPF will assist the Korean National Police Agency (KNPA) within the ambit of our domestic legislation and international obligations.
Kwon has repeatedly indicated on Twitter that he has been in Singapore. According to Singapore's Straits Times newspaper, his work permit in the city-state was due to expire on Dec. 7.
Last week, a spokesperson for South Korean prosecutors said arrest warrants have been issued for six people, including Kwon, noting that the Terraform Labs founder resides in Singapore. Kwon is accused of fraud after the collapse of the cryptocurrency luna (now called luna classic (LUNC)) and stablecoin terrausd (UST). In addition, the country's ministry of foreign affairs is reportedly planning to revoke his passport.
In the U.S., the Securities and Exchange Commission (SEC) is also reportedly investigating Terraform Labs and the collapse of stablecoin UST. In a few recent interviews, Kwon said he w...
| | LUNA Dumps 20% as Korean Court Issues Arrest Warrant Against Do Kwon (Re...
Just a day after reports emerged that the South Korean authorities had started yet another investigation against Terraform Labs, Bloomberg said a local court had issued an arrest warrant against Do Kwon and five others.
The price of the two current native assets - LUNA and LUNC - dumped hard, as the former is down by over 20% on a daily scale.
Citing a note from a Seoul court, Bloomberg outlined the arrest warrant issued against Do Kwon and five other individuals due to a violation of capital market rules.
Another local report claimed that Interpol will have to intervene since Kwon is currently residing in Singapore.
It also named two of the other five Terra-related individuals - Nicholas Platias (founding member of TFL) and Han Mo - an employee.
This latest development comes just a day after South Korean prosecutors launched another investigation against Terraform Labs to determine whether its native tokens were securities.
As reported before, LUNA and UST were once among the ten largest cryptocurrencies in terms of market cap.
Their demise not only wiped out roughly $50-60 billion of their own capitalization but brought down multiple companies, such as 3AC, Voyager, Celsius, and others.
Interestingly, LUNC and LUNA performed rather well in the past few weeks, as the former gained over 200% in days at one point.
However, both have tumbled in the past 24 hours, perhaps prompted by the all-out market crash as well as the news regarding Kwon's arrest warrant.
The post LUNA Du...
|  | Terra Dries Up As LUNA Sheds 40% From Recent High
LUNA has increased by about 300% just these past days, making it appear as if it had risen from the ashes. The feat began on September 9 and ended within a couple of hours.
This is a result of a proposal to put a 1.2% token burn tax on all transactions, which will allow LUNC to become a deflationary cryptocurrency, according to a recent tweet from Haily LUNC.
Unquestionably, the May-June LUNA crash has influenced the whole crypto community. There is a correlation between LUNA and other crypto stalwarts such as Ethereum if we compare the two. It may not be a price correlation, but rather investor sentiment.
Following the latest market crisis, the market as a whole declined even worse. In the past few months, Bitcoin and the other leading currencies in the market have experienced severe bear markets.
Given the issue surrounding LUNA, this rebirth is due to TERRA's latest request for a 1.2 percent transaction fee. According to TERRA, this would consume 1.2% of the total LUNA in circulation per transaction.
According to a recent analysis, the current surge in price poses a risk of reversal. After its unexpected price increase, TERRA declined by 30 percent, proving the validity of my analysis.
StakingRewards estimates a yearly return of 38 percent on LUNA stakes. If TERRA keeps rising, the expected profits might be quite lucrative. But the state of things for TERRA as it is right now is not promising.
Recent growth stems from expectations that LUNA will bounce back from a devast...
|  | LUNA 2.0 Token Jumps 200% Higher Against the US Dollar in 24 Hours
While digital currencies jumped in value during the early morning trading sessions on Friday (ET), the new Terra token, LUNA 2.0, jumped more than 200% in value against the U.S. dollar. LUNA jumped from a low of $1.90 per unit to a high of $6.87, but the token's value has slipped to the $5.41 per unit range following the high.Terra's Phoenix Blockchain Token LUNA Rallies by 200%
Bitcoin managed to jump 9.4% higher today, rallying above the $21K zone while ethereum increased 4.9%, surpassing the $1,700 per unit range. Amid these jumps, Terra's LUNA, the new luna token issued by the Phoenix blockchain, increased more than 200% on Friday against the USD.
Presently, LUNA is up 175.2% after dropping from the 24-hour high on Friday. 14-day stats indicate LUNA has increased 224.1% against the dollar and the coin has an overall market valuation of around $978 million.
Since the spike LUNA has seen $2.55 billion in global trade volume on Friday as it's the seventh largest volume out of all the coins in existence today. Luna classic (LUNC) is the sixth largest token in terms of 24-hour trade volume as LUNC has printed $2.81 billion in global trades.
LUNC is up 69.5% during the last seven days, but it lost 13.6% during the past 24 hours. The once-stable coin UST (now known as USTC) is close to a U.S. nickel in value at $0.047 and has increased by 4% against the dollar on Friday.
USTC jumped 27.3% during the last seven days and two-week statistics show USTC is up 55.9%. Terra's forme...
|  | Bitcoin Volatility, LUNA and LUNC Rollercoaster, Ethereum Merge Hype: Th...
The past seven days were action-packed, and it's safe to say those interesting developments took place on all fronts. Bitcoin went through considerable volatility, and Terra's ecosystem in the face of both LUNC and LUNA went on a massive rollercoaster while the Ethereum Merge countdown officially kicked off with the Bellatrix upgrade. Let's unpack.
Starting with Bitcoin, it got off on the wrong footing. For the first few days of the last week, BTC was rangebound around $20K - a trend that we saw for quite some time before that. On Tuesday, though, the sellers took control and pushed the price towards $18,000.
This level turned out to be pivotal, as it had previously supported the price on three different occasions. Once again, the bulls managed to hold the line and initiated a rebound earlier today. In less than 24 hours, buyers managed to send BTC towards $21K, charting a whopping increase of almost 10%. In doing so, they were able to turn the past seven days green as BTC charted gains close to 5%.
Elsewhere, the Bellatrix upgrade went live on Ethereum's Beacon chain. This is the last upgrade to take place before the coveted Paris hard fork (more commonly referred to as 'the Merge'). Its purpose is to enable validators to start producing updated Beacon Blocks that will contain the codebase for the merging of the two layers - the consensus and the execution layers.
This puts the Merge just right around the corner. According to the latest estimates, it should take place on Sep...
|  | LUNA Explodes 150% in an Hour as Volatility Ramps Up
LUNA - the cryptocurrency behind the Terra ecosystem - is going through major volatility at the time of this writing.
In the past hour alone, LUNA's price skyrocketed by a whopping 150% and almost touched $5. The move happened with significant volume relative to that of previous days.
LUNA's price exploded by a stunning 150% in about an hour and is currently trading at around $4.7, as seen in the chart below.
Source: Binance via TradingView
It's also evident that the volatility has picked up tremendously, as the subsequent candle also had an amplitude of about 20%.
This resulted in a considerable number of liquidations for that particular cryptocurrency. In less than an hour, almost $7 million in leveraged positions were wiped off the market.
It's also worth noting that the move comes shortly after LUNC - the cryptocurrency that powers the classic version of Terra's ecosystem - skyrocketed by about 100% weekly.
The latter happened because major exchanges such as KuCoin and GateIO extended support for the protocol's tax-burn mechanism.
The post LUNA Explodes 150% in an Hour as Volatility Ramps Up appeared first on CryptoPotato.
| | Terra Luna Classic (LUNC) Soars 100% Weekly as KuCoin, Gate Io Extend Ta...
Despite the dramatic sell-off of Terra ecosystem tokens, LUNC has managed to rally along with the crypto market favoring the upside.
While the plan continues to revive the chain and attract investors back, the latest surge of more than 100% over the past week after its tax burn confirmation.
At the time of writing, LUNC was trading at $0.00056, recording a daily rise of almost 55%.
LUNCUSDT. Source: TradingView
As per the new 1.2% Tax Parameter Change proposal, taxes will be charged and burned for on-chain activities, including transfers of LUNC and USTC between wallets and smart contracts.
The proposal essentially seeks to carry out a 1.2% token burn tax on all transactions in a bid to transform LUNC into a deflationary asset.
If passed by Terraform Labs (TFL), the 1.2% tax burn will be activated by September 20.
On the other hand, if the proposal fails to see the light of the day, the new dev team of the ecosystem - Terra Rebels - will offer an unofficial website, desktop app, and mobile app to facilitate tax burns.
KuCoin, in the latest announcement, stated that its services related to LUNC and USTC will remain unaffected if the community chooses not to approve the proposal.
The Seychelles-based crypto exchange has suggested users to deposit all Terra Classic tokens to avoid increased deposit fee costs.
'KuCoin will support the 1.2% tax burn when the proposal is officially approved and implemented on Terra Classic (LUNC) mainnet. Services on KuCoin will remain unc...
|  | Investor Sues Korean Crypto Exchange for Delaying Coin Transfer Before L...
A cryptocurrency investor has reportedly sued South Korean crypto exchange Upbit after the trading platform delayed processing his luna coin transfer prior to its crash. The Korean crypto exchange is investigating the details of the lawsuit.Upbit Sued by Crypto Investor
Dunamu Inc., the company that operates the South Korean cryptocurrency exchange Upbit, has been sued by a crypto investor, a man in his 50s, Korea Joongang Daily reported Monday.
The investor alleged that Upbit delayed processing his coin transfer off the exchange prior to the coin crashing, resulting in a monetary loss of 156 million won ($112,477). Upbit is one of the largest crypto exchanges in South Korea.
The lawsuit filed with the Seoul Central District Court last week explains that the investor attempted to transfer 1,310 luna coins (LUNA) on March 24 from his Upbit crypto wallet to a wallet he owns at Binance in order to exchange the coins for Vietnamese dong. On that date, the price of LUNA, now called luna classic (LUNC), was around $92.79 per coin. It crashed to near zero in early May.
Binance notified the investor the following day that his coins had been returned due to a problem with the transfer process. However, the coins were not showing up in his Upbit wallet either. After enquiring, Upbit told him that his coins had been accidentally deposited in Upbit's own crypto wallet and that their return was held up by account verification procedures as mandated by law.
In South Korea, the Act on Repo...
|  | Not-So-Diamond-Hands: Bitcoin Long-Term Holders Have Shed 150k BTC Since...
Data shows the total supply held by the Bitcoin long-term holders has decreased by 150k BTC since the LUNA crash.
Bitcoin Long-Term Holders Have Dumped A Noticeable Amount In The Last Few Months
According to the latest weekly report from Glassnode, the BTC LTHs have observed a sustained decrease of 150k BTC since the crash in May.
The 'long-term holder' (or LTH in brief) group is the Bitcoin cohort that includes all those investors who have been holding onto their coins since at least 155 days ago, without selling or moving them. The holders who sell earlier than this threshold are called the short-term holders (STHs).
LTHs are generally the most resolute investors in the market and thus large selling from them doesn't happen too often.
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