Luna Foundation Guard (LFG) has added an additional 2,508 BTC to its UST Reserve Bitcoin address and now holds 42,406 BTC, worth $1.72 billion at current market rates. The massive crypto acquisition comes just days after the organization looking to bolster the Terra ecosystem expanded its LUNA and UST backing reserves with over $170 million worth of Bitcoin.
The markets have been in a state of a gradual pullback over the last seven days. During that period, the value of most major digital currencies has diminished by double digits, including Bitcoin (-10.7%) and Ethereum (-11.8%). Consequently, the total value of all digital currencies in circulation shrank from $2.21T on April 4 to $1.98T on April 11.
The Luna Foundation Guard (LFG), a non-profit organization launched in early 2021 to ensure stability and growth of the Terra ecosystem, has acquired more than $170 million worth of Bitcoin over the weekend. The company’s treasury that is designed to maintain UST’s dollar peg now has 39,899 BTC in its UST Forex Reserve wallet.
The total market capitalisation of the crypto market has retraced back to $2.05 trillion during Week 14. We, and pretty much every other crypto investor, hope that the downtrend is not going to continue in the following week. Nevertheless, by smartly picking which coins and tokens to invest into your portfolio can end up in the green, even when the general market is in the red. And this is where our weekly Top 3 Coins to Watch articles, where you can find fresh ideas on how to make the most out of the current developments in the world of cryptocurrencies, come handy.
Key takeaways: OnePlanet has raised $3.35 million in a funding round led by Hashed OnePlanet is an NFT marketplace built on Terra, a rapidly-growing blockchain platform The platform also features a launchpad for new NFT projects OnePlanet plans to accelerate its Terra-based NFT marketplace with $3.35 million in new funding OnePlanet, an NFT marketplace built…
The bulls had the upper hand today, as the total cryptocurrency market cap increased by close to 6% and reached $1.89 trillion in the early hours of Wednesday. Bitcoin broke $42,000 on the heels of more than 8% 24-hour gains, while Ethereum and other major altcoins followed in the footsteps of the world’s oldest and largest crypto and generally posted high single-digit gains. In total, 93 out of the top 100 digital currencies traded in the green zone at press time.
For the most part, Terra (LUNA) managed to ignore the high degree of volatility that permeated the markets throughout February. While Bitcoin and Ethereum experienced notable up and down movement, LUNA stringed together an impressive streak of price increases at the end of February that pulled its price close to its all-time high.
After a rather chaotic Week 8 on cryptocurrency markets the total market capitalization lies at $1.75 trillion. On February 24, the crypto market moved in high correlation with the stock market as both reacted negatively to the news about Russia launching a ‘Special Military Operation’ in Ukraine. Bitcoin and the majority of other top cryptocurrencies lost more than 10% of their valuations that day. Nevertheless, most cryptocurrencies managed to rebound the next day, returning to their pre-war valuations. The world geopolitical situation is getting more heated each day which will inevitably have some monetary repercussions. Can cryptocurrencies actually benefit from this dire situation or will Week 9 be full of red numbers as investors move towards less riskier assets?
The cryptocurrency market performed a pronounced zig-zag movement in the last 24 hours. The majority of digital assets followed in the footsteps of Bitcoin, which dropped more than 10% yesterday only to bounce back over its Thursday highs.