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Tag: $UST

TerraUSD is a decentralized, algorithmic stablecoin that runs on a blockchain and is intended to retain a value of one target US dollar. UST, unlike centralized stablecoins, is not backed by US dollars in a bank account like other cryptocurrencies. Instead, to mint 1 TerraUSD, you need to burn $1.00 of TerraUSD’s reserve asset (LUNA) to create 1 TerraUSD.

Crypto Market Update: November 29, 2023

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Recent News Impacting the Crypto Market Crypto products are witnessing a surge in popularity, with inflows reaching levels not seen since late 2021. Despite the absence of regulatory approval for exchange-traded funds (ETFs) tied to the spot price of Bitcoin, optimism in the market remains high. The crypto sector is on the brink of a new chapter. Binance founder Changpeng “CZ” Zhao is currently in Seattle, awaiting sentencing after pleading...

$UST, Bitcoin, Crypto market, Cryptocurrencies, Terra

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gas burning - quema de gas

Binance announces LUNC burn, and token jumps 35%

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The price of Luna Classic (LUNC), formerly known as Terra, has risen by almost 35% after it was announced that Binance would back a proposal to destroy the project. Binance, the largest cryptocurrency exchange in the world by trade volume, announced on Monday that Terra Classic, the older version of the doomed blockchain, has a new way to burn itself. The Terra community has come up with a plan to charge a 1.2% tax on all on-chain transactions...

$LUNA, $UST, Front page, News, Terra

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do kwon fugitive

Interpol red-lists Terra creator Do Kwon

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Do Kwon is the founder of Terraform Labs and the main person responsible for the Terra ecosystem. A week ago, the South Korean authorities filed a request to issue a red alert for Do Kwon. The request was made because Do Kwon’s stable currency UST lost parity with the dollar in May and collapsed, causing tens of thousands of investors all over the world to lose their money. Do Kwon is the subject of a “red alert,” which was...

$LUNA, $UST, Front page, News, Terra

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Illustration of Do Kwon behind bars

South Korea urges Interpol to stop Terra creator from avoiding extradition

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South Korean police have requested a red alert from Interpol to prevent crypto entrepreneur Do Kwon from evading extradition, days after the Terra creator denied being “on the run” in a tweet. Kwon was the creator of the Terra/Luna cryptocurrency platform, an effort to create a system with comparable scalability to Ethereum. In the spring of 2022, however, Kwon’s attempts to create an “algorithmic stablecoin” that...

$LUNA, $UST, Cryptocurrencies, Front page, Terra

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lunc - new burning proposal

New burning mechanism proposed for Terra Classic and token rises 120%.

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After a steep decline in May, $LUNC has increased by more than 100 percent in the previous week. The increase has been even more significant over the last month, with the price increasing by 489% from USD $0.000095 on August 8 to a high of USD $0.00054 on Thursday morning. New burning mechanism Recent gains in the price of LUNC correlate with the advancement of a Terra Classic community proposal to introduce a new burn mechanism for the...

$LUNA, $UST, Cryptocurrencies, Exchanges, Front page

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