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Do Kwon, the co-founder and CEO of Terraform Labs, confirmed the relaunch of Terra’s new chain, Terra 2.0, which aims to revive the fallen Terra (LUNA) and TerraUSD (UST) ecosystem. Kwon’s revival plan for Terra involves hard forking the existing blockchain and reissuing LUNA tokens to existing investors based on a
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The fall of Terra (LUNA) shook the entire crypto market. However, the project has no plans to stay down as the project secured backing from crypto exchanges to help it rebuild. In an announcement Thursday, Terra provided details about the airdrop of the new native token within its new blockchain dubbed
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Crypto trading platforms show initial signs of support for the revival of the collapsed Terra network by listing Terra's brand new token, also named LUNA.The HitBTC exchange took to Twitter on Wednesday to announce that Terra’s new chain token Luna will be available on its platform on May 27.The
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After a grueling two weeks for the Terra community, the team behind the project announced revisions to their proposed revival plan for Terra (LUNA) and TerraUSD (UST). In a Tweet, Terra shared three major revisions to the proposed Terra revival and redistribution plan. These include increasing the genesis liquidity, introducing a
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In what may have marked the largest token collapse in crypto history, Terra’s $40 billion stablecoin juggernaut crashed last week. Terra’s UST stablecoin, which is supposed to stay “pegged” to the price of the dollar, plummeted below 10 cents. LUNA, which UST’s “algorithm” uses to help prop up the stablecoin’s
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The price of XRP has nosedived substantially to a level that it last touched almost 70 weeks ago. At the current time, XRP’s price have been trading near its immediate support level of $0.36. Bitcoin continues to be on shaky grounds as the coin tried recovering by moving past the $30,000
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Terraform Labs co-founder Do Kwon has tabled a proposal to preserve the Terra ecosystem following the historic depegging of its algorithmic stablecoin, UST, and the resulting death spiral that plunged Terra (LUNA) tokens to practically zero. In a Friday post on Terra’s research forum, Kwon said, “The Terra community must reconstitute
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The crypto market overall noted gains in the last 24 hours reversing certain effects of the recent bloodbath. Dogecoin on the other hand particularly saw some extreme choppiness over the past week or so. It is however too soon to say if the market is on its way to a
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Decentralized finance (DeFi) has had a rough go so far in 2022, and data from Messari shows the top ten-ranked DeFi assets currently down between 10% to 50% since the start of the year.Top ten DeFi tokens by market capitalization. Source: MessariA positive is, the situation may change soon as
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