May 27, 11:47 am
|Terra Community Votes to Burn 1 Billion UST From its Community Pool|
The developments surrounding Terra's ecosystem keep coming in. After voting for a revival plan that would see the fork of a new chain without the algorithmic coin, the community has now accepted another proposal.
CryptoPotato reported yesterday that Terra's community voted in favor of Do Kwon's revival plan that intends to fork a new blockchain without the UST algorithmic stablecoin.
Previously, the CEO had explained that 'the only path forward will be to absorb the stablecoin supply that wants to exit before UST can start to repeg.'
With this in mind, a proposal was submitted eight days ago to burn the remaining UST in the community pool.
With an overwhelming majority of 99.39%, represented by 153,644,852 votes, the proposal was accepted on May 26th.
It's worth noting that its previous iteration, however, was submitted on May 12th, but it failed to execute because there was a mismatch between the amount of UST in the community pool and in the proposal.
May 27, 11:20 am
|Crypto Price Analysis May-27: Ethereum, Ripple, Cardano, Solana, and Tro...|
This week, we take a closer look at Ethereum, Ripple, Cardano, Solana, and Tron.
During a sustained sell-off yesterday, Ethereum lost the critical support level at $1,900, and its price fell to $1,700. This evaporated hopes of a quick recovery and turned market sentiment extremely bearish. ETH has lost 12.7% in the past seven days.
May 26, 10:39 am
|Terra 2.0: This is What LUNA Holders Need to Know|
Over the past couple of weeks, the crypto world was shaken by the sudden collapse of the Terra ecosystem. After its algorithmic stablecoin (UST) lost its dollar parity, everything came crashing down, leaving many investors with nothing as LUNA quite literally went to $0.
Now, the community has voted and accepted a proposal that would essentially se...
May 26, 9:00 am
|IMF Chief Begs Investors Not to Shun All Crypto After the Collapse of LU...|
The managing director of the International Monetary Fund (IMF) reportedly said that investors should not completely pull out of crypto after the collapse of cryptocurrency terra (LUNA) and stablecoin terrausd (UST).IMF Chief Has a Message for Crypto Investors After the Collapse of LUNA, UST
Kristalina Georgieva, the managing director of the Interna...