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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Crypto and volatility are two terms that go hand-in-hand. The global cryptocurrency market is slowly on its way to recovery with Bitcoin rebounding the $20,000 mark. The crypto market cap has increased by more than 2 per cent to $902 billion in the last 24 hours, according to CoinMarketCap data at the time of writing. […]
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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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Despite regulatory challenges in India, Binance, the world’s largest cryptocurrency exchange, is bullish on the country’s crypto future. This comes at a time when Indian investors are subjected to a flat 30 per cent tax on their crypto investment, albeit without any regulatory framework. “Blockchain startups are what garnered the attention of Binance and many […]
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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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The past few days have been excessively volatile for the cryptocurrency market with the world’s largest cryptocurrency Bitcoin plunging to its lowest point since 2020. This comes after the world’s largest stablecoin—Luna and Terra depegged from its $1 value to 20 cents, causing bearish sentiments across the crypto market. According to Coinmarketcap, the entire crypto […]
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