Gaming NFTs and metaverse were least affected by the Luna-Terra debacle, says a new report by decentralised application (DApp) data aggregator DappRadar. It should be noted that the Terra stablecoin collapsed in May, erasing around $40 billion of venture capitalists and retail money. The stablecoin blow applied heavy pressure on the entire crypto market, starting […]
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The world’s largest stablecoin Tether is likely being shorted by hedge funds. This comes as the market continues to witness an intense sell-off after the Luna-Terra fiasco. Shorting or short-selling refers to an act of selling a digital asset in the hope that it falls in value and then you can buy it back at […]
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Terra coin failed miserably, plunging the investors’ money once and for all. However, Do Kwon, CEO and co-founder of Terraform Labs, the company behind Terra and Luna has a ‘grand revival plan’ to salvage the Terra ecosystem from its current stage. The new plan is called— ‘Terra 2.0’. However, tech entrepreneurs and cryptocurrency exchanges are […]
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The stunning fall of the Terra stablecoin made the overall crypto market unstable, wiping out more than $200 billion in the space. The value of Luna Terra plunged about 80 per cent, making the coins now almost worthless. It should be noted that stablecoins work on the supply and demand game. Any stable coin that […]
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Algorithmically designed Stablecoins Luna and Terra were not always wrecked coins. In December last year, they emerged as a ‘golden investment’ where 1 Luna was worth over $116. Remember, 1 stablecoin is pegged as $1. Luna’s popularity was due to a lending program called Anchor, which promised annual percentage yields (APY) of almost 20 per […]
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In the last few days, a stablecoin called TerraUSD and its sister currency Luna dropped about 80 per cent, rattling the broader crypto market including tokens like Bitcoin and Ethereum. Terra Luna is now almost worthless. This has created fear among investors, even aggressively bullish crypto investors are now panicking. Here are the five important […]
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