‘Revival Plan’ Boosts ‘Essentially Zero’ Luna Price By 1,000%
Luna, the collapsed cryptocurrency that was designed to support the terraUSD (UST) stablecoin, has rocketed higher over the last 24 hours despite falling to near zero this week—a dramatic collapse that shook the wider bitcoin and crypto market.
The luna price, which was trading as high as $100 per luna just last month, crashed to near zero this week—causing the algorithmic stablecoin UST to completely lose its peg to the U.S. dollar—amid a $1 trillion crypto crash that sent the bitcoin price down by over 20%.
Now, the chief executive of UST and luna developer Terraform Labs, Do Kwon, has pitched a revival plan that could see ownership in the network distributed across UST and luna holders—causing the luna price to surge over 1,000% as traders bet the project could recover.
Luna, the collapsed cryptocurrency that was designed to support the terraUSD (UST) stablecoin, has rocketed higher over the last 24 hours despite falling to near zero this week—a dramatic collapse that shook the wider bitcoin and crypto market.
The luna price, which was trading as high as $100 per luna just last month, crashed to near zero this week—causing the algorithmic stablecoin UST to completely lose its peg to the U.S. dollar—amid a $1 trillion crypto crash that sent the bitcoin price down by over 20%.
Now, the chief executive of UST and luna developer Terraform Labs, Do Kwon, has pitched a revival plan that could see ownership in the network distributed across UST and luna holders—causing the luna price to surge over 1,000% as traders bet the project could recover.
Indian Regulator Makes it Harder for Celebrities to Endorse Crypto
Indian regulators are making the rulebook tough for celebrity endorsement of crypto products. The Securities and Exchange Board of India (SEBI) has advised prominent public personalities, including celebrities and sportsmen, to refrain from endorsing anything related to the digital asset industry.
Indian regulators are making the rulebook tough for celebrity endorsement of crypto products. The Securities and Exchange Board of India (SEBI) has advised prominent public personalities, including celebrities and sportsmen, to refrain from endorsing anything related to the digital asset industry.
Cryptocurrency Market Crash and Top Crypto Prices Today (May 18, 2022):
The global crypto markets remain bearish amid a prevailing sentiment of “extreme fear”. At the time of updating this (9.05 pm), global crypto market cap again crashed to $1.25 trillion from the $1.31 trillion recorded on Monday. Bitcoin price has again crashed to below $29,000 level.
The global cryptocurrency market volume over the last 24 hours decreased by 0.11% to $80.41 billion. The total volume in DeFi was $7.26 billion, which is 9.03% of the total crypto market 24-hour volume. Stable coins volume was $70.38 billion, which is 87.52% of the total crypto market 24-hour volume.
The global crypto markets remain bearish amid a prevailing sentiment of “extreme fear”. At the time of updating this (9.05 pm), global crypto market cap again crashed to $1.25 trillion from the $1.31 trillion recorded on Monday. Bitcoin price has again crashed to below $29,000 level.
The global cryptocurrency market volume over the last 24 hours decreased by 0.11% to $80.41 billion. The total volume in DeFi was $7.26 billion, which is 9.03% of the total crypto market 24-hour volume. Stable coins volume was $70.38 billion, which is 87.52% of the total crypto market 24-hour volume.
Online searches for the term “bitcoin dead” have surged in recent days following one of the worst price crashes in the cryptocurrency’s history.
Data from Google Trends shows that the spike in searches coincides with bitcoin’s latest price capitulation, which saw it fall from above $30,000 at the start of June to below $20,000 this weekend.
Data from Google Trends shows that the spike in searches coincides with bitcoin’s latest price capitulation, which saw it fall from above $30,000 at the start of June to below $20,000 this weekend.
Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called blockchain bridge, in the latest major heist in the world of decentralized finance.
Details of the attack are still slim, but Harmony, the developers behind Horizon, said they identified the theft Wednesday morning. Harmony singled out an individual account it believes to be the culprit.
Details of the attack are still slim, but Harmony, the developers behind Horizon, said they identified the theft Wednesday morning. Harmony singled out an individual account it believes to be the culprit.