Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Altcoins
Shiba Inu Founder Deletes All Tweets and Blogs After Year-Long Silence
The founder (or founding group) behind Shiba Inu, the so-called “Dogecoin Killer” has erased all traces of his content from the internet. Every last tweet and blog disappeared from his Twitter and Medium accounts for no apparent reason. The founder Ryoshi’s Twitter account of nearly 200,000 followers no longer displays any posts, nor a bio. Perhaps more strangely, its profile picture has changed to the famous Tibetan Yogi and Buddhist Jetsun Milarepa. The account’s banner image has also changed to…
3 years ago
Terra 2.0 Airdrop is Live: Here’s What You Need to Know
Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, the reasons for its launch, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known…
3 years ago
Terra Holders Approve Proposal to Burn 1B UST from Community Pool
Terraform Labs has announced plans to burn 1.3B UST from the community pool following a successful governance vote. After the "Rebirth of Terra" passed some days ago - the burn proposal is the latest in Terra's ultimate revival plan. Terra will Absorb the UST Supply On Thursday, the burn idea, proposal 1747, passed with staggering support from the Terra community. 99.3% of participants in the vote (154.579 million) pushed for TFL to destroy a huge part of the UST supply. …
3 years ago
Binance, FTX and Others Pledge Support for Rebirth of Terra
Several of the world’s major exchanges have declared their support for Terraform’s reintroduction of the Terra chain as Terra 2.0. Likewise, participants in the network responded positively to the latest in a string of revival strategies from CEO Kwon Do-Hyeong. Terra Revival Plan Receives the Green Light Algorithmic stablecoin UST’s depegging kicked off a series of events that led to the Terra ecosystem’s record collapse. Although most of the crypto-industry had written off the project, Do-Kwon relentlessly pursued its salvation.…
3 years ago
1inch Integrates With Travala to Allow Travel Bookings With 1INCH Token
The popular DEX aggregator 1inch has entered a partnership with Travala.com to integrate 1INCH token into its platform. Holders will be able to book homes, hotels, airlines, and other activities using the governance token. According to a blog post from 1INCH, the partnership is meant to boost 1INCH token’s adoption and expand awareness of the network. Like other governance tokens, it allows for users to vote on the protocol’s parameters in a relatively decentralized fashion. It also expands its utility…
3 years ago
Terra 2.0 Vote Passes to Launch New Blockchain and Revive Ecosystem
Terra co-founder Do Kwon’s proposal to hard fork the Terra network and rebuild its ecosystem has passed. The new chain – which will launch on May 27th – will not include a relaunch of the algorithmic stablecoin TerraUSD (UST). The Revival Plan Terra proposal 1623 passed on Wednesday with 65% of votes in favor, 13% against, and 21% abstained. As Terra explained over Twitter, the new “Terra 2.0” will be deemed the official “Terra” chain. Meanwhile, the old chain and…
3 years ago
Do Kwon Drops LUNA Burn Address, But Warns Against Burning
Says It Is For Information Purposes Only. Terraform’s founder, Do Kwon shared a burn address for Luna Tokens on May 21st contrary to his former plan. Two days later, he has added warnings that people who decide to use the address have nothing to gain, in his own opinion. After the crash of the Terra ecosystem, Do Kwon had made several failed efforts to revive the continuous downward spiral. The most recent of those is the hard fork he proposed.…
3 years ago
Do Kwon Suggests Terra 2.0 Hard Fork in New Revival Plan
Kwon unveils another plan to revive ebbing Luna. On Monday, the Terraform founder and CEO unveiled another plan to save Terra’s sinking ship from extinction. This plan, shared on Twitter, includes forking Terra’s governance coin Luna and making the chain community-owned. What Went Down, Literally In spite of the death blow dealt to both Terra coins recently, the cryptocurrencies continue to find ways to stay alive. Last week, Terra's LUNA dropped from $85 value to less than nothing. Its…
3 years ago
Stablecoin DEI Follows UST’s Lead, Drops Under $0.6
DEUS Finance's algorithmic stablecoin DEI appears to be going the same route as the ravaged Terra USD (UST). DEI is the third stablecoin to depeg from the $1 mark in the past 14 days. DEI Drops to All-Time Low Price charts from CoinGecko show that the token failed to maintain its dollar peg starting late Sunday. Earlier today, DEI plummeted to an all-time low of 52 cents. The stablecoin has undergone a slight recovery and is hovering at $0.65 at…
3 years ago