Terrausd (UST)

Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

June 19, 2022 Bitcoin.com

$1 Parity

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Stablecoin Market Nears 15% of the Entire Crypto Economy’s Market Valuation

June 12, 2022 Bitcoin.com

Altcoins

Roughly two months ago on April 11, the stablecoin economy was valued at $190 billion and was getting closer to surpassing $200 billion in value. However, after the Terra stablecoin fallout, the fiat-pegged token economy lost $16.31 billion in value since then. While that value was erased from the stablecoin market, stablecoins themselves represented 9.35% […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Bitcoin Held on Trading Platforms Continues to Drop Lower, Over 68% of the Total Held by 5 Exchanges

May 22, 2022 Bitcoin.com

$73.7 billion

Amid the market carnage tied to Terra’s recent fallout, bitcoin sent to exchanges saw a brief spike on May 7, jumping more than 2% higher from 2.481 million to 2.532 million bitcoin. Despite the recent increase of bitcoin sent to trading platforms, the number of bitcoins on exchanges today remains lower than ever before. Bitcoin […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Finder’s Poll Conducted Weeks Before Terra’s Fallout Predicted LUNA Would Tap $143 This Year

May 16, 2022 Bitcoin.com

algorithmic Stablecoins

Just recently, the product comparison platform finder․com polled 36 fintech specialists about the cryptocurrency terra (LUNA) before terrausd (UST) lost its parity with the U.S. dollar. According to the poll, Finder’s experts predicted LUNA would be $143 before the end of the year. Currently, LUNA is worth far less than a U.S. penny and while […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Onchain Analysis Report Says Terra’s Bitcoin Reserves Were Sent to Binance and Gemini

May 15, 2022 Bitcoin.com

bitcoin reserves

After the collapse of Terra’s once-stable coin terrausd (UST), a number of people wondered where the Luna Foundation Guard’s (LFG) bitcoin went, as the funds were supposed to be used to defend the UST’s $1 parity. On Friday, the blockchain intelligence and analytics firm, Elliptic, published a blog post that summarizes where the bitcoin was […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout

May 14, 2022 Bitcoin.com

apartment building

Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the Terraform Labs founder Do Kwon’s apartment was visited by an unidentified person. Do Kwon’s spouse has requested protection from the Seongdong police in Seoul after the unknown person broke into the apartment building and rang the doorbell […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs

‘A Dark Day for Crypto’ — A Deep Dive Into the Obliterated Terra Token Ecosystem and Damaged Apps

May 13, 2022 Bitcoin.com

Anchor

Following a few days of carnage, the two leading crypto assets built on top of the Terra blockchain have plummeted to significant lows. LUNA has dropped to $0.00000100 per coin and the once-stable coin terrausd (UST) hit a low of $0.044 per unit. After temporarily halting the Terra blockchain and restarting it, the team has […]

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‘BITSANITY’ — Records broken with $70B in volume for Bitcoin stocks, ETFs