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The post Apecoin Back as Top Preferred Asset by Ethereum Whales Along With These 3 Altcoins appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide As the cryptospace attempts to make a positive move, most of the assets in the market are attempting to make a long leap. And hence the whales appear to have become active again as they have flipped into an accumulation mode yet again. An on-chain analytical platform, WhaleStats that tracks the top 100 ETH whales, their purchases and sales, etc, says the whales are keener in the metaverse projects now.  Recently, an NFT had made a huge round in the market with a significant upswing and massive whale accumulation. However, as the token dropped amid negative market sentiments, the whales had turned away from the asset. Yet, in a recent development, ETH whales are again accumulating the popular NFT, Apecoin along with the other assets. Also Read: Cardano Surges Beyond 25% Securing its Place in Top 3 Gainers ...

The post About 99% Of Crypto Will Find Bottom, But Not Leading Ones, Claims DOGE Founder appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Markus predicted that virtually all of the 500 new coins generated each day will “certainly collapse.” That is not the case for the most popular cryptocurrencies. Apparently, he was referring to Bitcoin, Ethereum, and Dogecoin , which only go down approximately 90% of the time. i mean there’s like 500 shit tokens made daily so 99.9% will definitely crash to 0 but the major ones usually only go down 90% or so — Shibetoshi Nakamoto (@BillyM2k) May 31, 2022 Billy Markus Has No Plans To Trade In Crypto Billy Markus and Jackson Palmer, co-creators of the first joke cryptocurrency, DOGE, have come to Twitter to express a perspective. Markus also revealed on Twitter about a week ago that he had largely ceased trading in digital currencies in 2013. Justifying his decision, Markus claimed that most of the crypto...

The post Terra LUNA 2.0 Price Surge By 100% From It’s All Time Low! Here Is Why appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra’s LUNA 2.0 price has soared in value in the last 24 hours after Terra announced that it will correct several flaws in its recent airdrop . From a low of $5.86, LUNA soared as much as 100% to an intraday high of $11.97. However, according to statistics from Coinmarketcap.com, the coin is presently trading at $8.58, up 40% in the last 24 hours. On its official Twitter account, Terra states that it is actively working to ensure that its latest airdrop is distributed accurately, which caused the token’s surge. The change comes after numerous holders complained that they didn’t get as much LUNA as they expected from the airdrop. Binance is also planning to begin LUNA trading later in the day, as well as the airdrop for its customers. Two Snapshots For Airdrop The blockchain stated it is presently gathering data in o...

The post Tether Relied on an Obscure Bank in the Bahamas to Store its Reserves appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The Financial Times recently published a report on Tether’s dependency on an obscure bank in the Bahamas in order to store some of its reserves. Capital Union, a Nassau-headquartered banking institution, was divided into virtual assets research last year, whereas just a month ago the bank picked prominent blockchain sleuth Chain analysis as its compliance partner to ensure compliance and detect risky transactions over cryptocurrency.  The controversial stablecoin Tether has not yet confirmed its holdings at the tiny Bahamas bank, as it has faced plenty of criticism in the past choosing to remain mum on its holdings at bank deposits.  The Commodity Futures Trading Commission last year penalized Tether with a $41 million fine for lying about its stablecoin reserves. On which the Tether had failed to disclose its n...

The post Was the LUNA Air-Drop an Extra Needle Salt in the Wound? What’s the Fate of LUNA & LUNC Price Ahead? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra 2.0 went live a couple of days before, launching a new chain with a new token LUNA, while the old token was rebranded as TerraClassic (LUNA). Despite huge criticisms, Do-Kwon, the founder of Terra went ahead with his proposed revival plan and launched a new chain. It was expected that the influx of liquidity in LUNA may give a good bullish momentum to the LUNC and USTC stablecoin, but it appears that the old tokens are no more dependent on LUNA.  The launch of Terra 2.0 was supported by multiple exchanges as they carried out the air-drop of new tokens efficiently. However, Binance carried out the airdrop a couple of days later on 30th May. And hence the LUNA price surged significantly by nearly 70% to reach the highs beyond $10. However, soon after the airdrop, the prices fell m...

The post New Stablecoin On Do Kwon’s Terra 2.0, Claims Insider! What Is Do Kwon Upto ? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide According to a self-proclaimed insider, Terra creator Do Kwon may introduce a new decentralized stablecoin on Terra 2.0. FatMan, a regular contributor to the Terra governance forums, made the allegation. Kwon is now building a new decentralized stablecoin to be built on Terra 2.0, according to a “confirmed insider.” The move would go against Terra 2.0 ‘s original objective, which was to get rid of the TerraUSD stablecoin (UST). The depegging of UST was a major factor in the Terra crash, as Kwon’s reserves were inadequate to maintain the stablecoin. New Stablecoin On Terra 2.0 The majority of responses to FatMan’s Twitter post were unfavorable. However, several individuals suggested that the token may work if completely backed. Since their creation, the asset backed stablecoins, USDT and USDC have shown to be t...

The post S.Korea Gets Aggressive With Their Terra Crash Analysis! Here Is What They Found appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide According to local media sources, prosecutors have recently summoned employees of Terraform Labs as part of their investigation into the Terra crash . On Saturday, the Terra blockchain made a comeback with a launch of new LUNA currency and an airdrop. However, their problems with the Luna Classic and USTC crash are becoming more serious. LUNC Gets Unveiled Amidst The Failure According to sources, the Seoul Southern District Prosecutors’ Office summoned all those who were previously present in the Terra’s construction. The investigation has gathered some critical information about the situation. Meanwhile, according to the reports, Do Kwon pushed the token launch despite being told not to. According to a Terra employee, CEO Kwon was aware that the chain may collapse at any time. Despite this, he chose to proc...

The post LUNA 2.0 Airdrop Splits Into 3 Zones! Will LUNA 2 Price Revisit $30 ? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide After the airdrop on Saturday, the LUNA 2.0 price is stabilizing below the newly created trading range. Before entering fresh trading positions, investors should patiently wait for a directional bias to develop. Impact Of TerraUSD’s Depegging The trouble and mistrust against LUNA started when Do Kwon, Terraform Labs founder bet $1 million with Twitter user Algod. As per the bet. As per the bet, LUNA price would trade higher than that of March 14. GCR, another Twitter user, quickly joined forces with Algod and put up $10 million against the stake, which was accepted by Do Kwon.  Since then, the crypto community has split into two camps. First being those who support LUNA and its ecosystem, and next, those who want it to perish. The Terra collapse happened when LUNA and the UST peg began to move away on the first wee...

The post Investors Lose Confidence On Terra While LUNA 2.0 Price Plummets 70% In 48hrs! Here Is Why appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide On May 28, the Terra ecosystem saw a relaunch via Terra 2.0 . However the price of Terra (LUNA) price has dropped by almost 70%. New LUNA tokens, also known as LUNA 2, are being airdropped to investors as part of Do Kwon’s revival plan (aUST) . These investors are the one who previously owned Luna Classic (LUNC), TerraUSD Classic (USTC), and Anchor Protocol UST. LUNA has plunged around 69% from its initial price of $18.87 on Saturday to around $6.10 at the time of writing, as per Coinmarketcap data. Investors Lack Confidence In Do Kwon’s Plan At this point, the rapid drop appears to indicate a lack of confidence in Do Kwon’s rebranding. Now investors are planning to reclaim a tiny portion of their previously lost funds before moving away from the project. Beginning May 31, Binance will commence a ...

The post Don’t Jump-In to Buy Altcoins when Bitcoin (BTC) Price Bottoms, Says Popular Analyst!  appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The 2021 bull run displayed a diversified trend of Bitcoin price rising and smashing ATH and later calming down. This was further followed by a rise in a majority of Altcoins where-in a bull run of some altcoins fueled the Altseason. However, currently, it is not the same as previous. Despite the Bitcoin(BTC) prices are consolidating at the bottoms, it is said that it not the right time to accumulate Altcoins! Is the Bitcoin price yet to hit the bottom? If yes, where could be these levels? And what about Altcoins which are already tanked above 90% from their highs? Bitcoin prices after hitting the bottom at around $26,700 in the recent past, is hovering around the same levels since then. Moreover, each attempt of regaining levels above $30,000 is all going in vain. At the same time, altcoins are bec...

The post LUNA 2.0 Gets Listed On Binance, But Not In The Regular Platform! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Last week LUNA’s airdrop was quite a success. Now, Binance, the world’s largest crypto exchange, announced that LUNA 2.0 will be listed on its platform. However, Binance’s “innovation zone,” a high-risk token trading platform, will list the token. The tokens will be available for trading on May 31. The price of LUNA 2.0 dropped by 80% in the first few hours of trading on Saturday. For the time being, the token looks to have reached a level of stability, and it is now trading at roughly $5. On the previous Terra network, which is now known as Terra Classic, almost 1 billion fresh LUNA coins were airdropped to holders. The airdrop was endorsed by Binance and the majority of other exchanges. LUNA 2.0 Lists In Binance Binance, while announcing its listing, stated that the Innovation Zone contains assets that are significantl...

The post After a 25% Drop Since the Re-Birth of Terra 2.0, This is What You Can Expect from LUNA & LUNC Price appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra 2.0, the new blockchain created to overcome the losses incurred due to the primitive Terra chain, is now called TerraClassic (LUNC) and has jumped notably high. Soon after the LUNA air-drop, a significant recovery was recorded in LUNC price. The asset is forming multiple higher highs and lows within an ascending trend. On the other hand, the new LUNA price is consolidating within a narrow region.  Therefore, has the launch given a good boost to LUNC price than LUNA or it is too early to figure out? It is a known fact that not everyone is happy with the launch of Terra 2.0 without solving the issues with TerraClassic. As it appears that the money from Terra 2.0 may be flown into LUNC and aim to stabalize de-pegged UST. But practically, it is not easy as it appears! The circulati...

The post Here Is Why SEC Is Working With Ripple Defendants! How Long Will The Case Drag? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The legal battle between Ripple, and the Securities and Exchange Commission (SEC) in the United States is intensifying by the day. Rarely does one witness two adversaries working together under the same banner. A once-in-a-lifetime chance. Ripple & SEC Agree On Fee Award Ripple and the SEC were allowed a two-week time delay to negotiate and agree on the proper attorney’s fee for deposing Dr. Albert Metz’s supplemental rebuttal report. “Any application for attorneys’ fees as outlined in the Court’s April 19, 2022 order…” was due by May 27, 2022, according to the text approved. Both sides wanted the attorney’s fee deadline pushed back to May 27, 2022. In a 27 May filing, the parties agreed on a fee award in connection with the Metz Supplemental Report and Deposition. Both Defendant and Plaintiff worked toge...

The post LUNA 2.0 Price Crashed Heavily After The Launch! Here’s What Crypto Space Has To Say ! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terraform Labs on Last Saturday has Launched a new version of the Terra blockchain, “ Terra 2.0 ” with freshly minted LUNA tokens. Out of 1 billion LUNA tokens, only 21 million were airdropped and added to the circulating supply on Saturday. The remaining freshly minted LUNA tokens will be airdropped in phase. It peaked last month at $119.18 before a historical crash of stablecoin wiped out tens of billions of dollars in value.  Just 12 hours later, the Freshly minted LUNA token had dropped almost 73% of its initial value. Which was at a peak of $19.54 earlier is now trading at $5.18 according to the data from CoinMarketCap. Initially LUNA tokens were only available on Bybit crypto exchange for trading, but after ten minutes of its launch Kucoin also enabled LUNA for trading. Whereas now LUNA is t...

The post Terra LUNA 2.0 Price Plunge 60% Following The Much Awaited Airdrop appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra’s Airdrop brings the month of May to a close, which began with the collapse of Terra’s LUNA 2.0 and TerraUSD (UST). However, after only a few hours of circulation, the new renamed Terra prices plummeted. LUNA Airdrop Is Live In order to restore Terra, DO Kwon, the founder, and the community came up with a few ideas. The majority of the vote went in favor of rebranding the former chain Tera Classic and creating a new chain called Terra (LUNA) (LUNC). Fresh tokens will be distributed to specific sorts of holders as part of the approach. Today was the day when Block 1 of the new Terra blockchain was created, as per Terra. Meanwhile, just hours after the new token’s introduction, its value plummeted by 60%. As per the sources, Terra (LUNA) 2.0 started the trade between $17 and $18. Then the price rallied towards the $20 l...

The post Terra 2.0 Is Now Live! Phoenix-1 Mainnet Activated, What’s Next For LUNC Price? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Terra 2.0’s official announcement is made by the Terra team . The team activates Terra 2.0 Phoenix-1 mainnet by generating the first block on the blockchain network. Further, the official announcement of Terra reads:  “Block1 of the brand new Terra blockchain(with a chain_id of “Phoenix-1″) has officially been produced at 6:00 AM UTC on May 28th, 2022.! Congratulations to the #LUNAtic community on this expedition’s feat of collaboration.” The Terra team makes an announcement to the people that are eligible for the LUNA tokens , that they can check their wallet balances by selecting the new network Phoenix 1 via their Terastation browser extension. Adding to this Do Kwon Terra founder says: “To view your $LUNA (or $LUNA2 as some exchnages call them) token balances, you only need to log into station and ...

The post Terra 2.0 Launched, Terra Classic(LUNC) Price May Skyrocket Soon Before LUNA: Report appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The infamous Terra(LUNA) & TerraUSD(UST) crash earlier this month has shaken the entire crypto space. The crash was so brutal that the assets are unable to recover even after a fortnight. However, Do-Kwon, the founder has now come up with a revival plan which mainly suggests the creation of a new chain called Terra(LUNA), while the older one is to be rebranded to Terra Classic(LUNC).  Now when LUNC and LUNA both will be on the battleground, which one will surge with flying colours? Before digging deep into history, let’s have a glance at the series of events that led to the creation of LUNA 2.0! About the Crash-In Brief! Terra’s (LUNA) price was rising high despite the sideways trend of the major crypto assets in the market and secured its position within the top 10. All began to tremble down when...

The post Terraswap Launched On Terra Chain! This Is How The Terra 2.0 Launch And Airdrop Is Planned  appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide According to Terraform Labs CEO Do Kwon, the new blockchain deployed on mainnet today at 6 a.m. UTC and is presently creating blocks. After the Terra ecosystem’s UST algorithmic stablecoin crumbled a few weeks ago, the new chain tries to resurrect it. Terra’s tokens collapsed, wiping approximately $40 billion in market value. After Terra’s collapse, Terraform Labs, the company that created Terra, has suggested a new blockchain. After the request approval, in only few days Do Kwon installed another chain , the one that is currently in use. Astroport, Prism, RandomEarth, Spectrum, Nebula, Terraswap, Edge Protocol, and more programmes will be migrating to the new chain. Terra is an ongoing project. Terraswap announced on Twitter that it has finished the Terra chain’s deployment. Now it will activa...

The post Report On What Happened to TerraUSD (UST) Prior to Historic Collapse appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The largest algorithmic stablecoin, TerraUSD (UST), suddenly disintegrated last week, sending shockwaves through the crypto markets. As UST fell considerably below its $1 peg, it put downward pressure on Bitcoin and the whole cryptocurrency market. Luna, its sister cryptocurrency, has also virtually halved in value. So what happened? Nansen, a cryptocurrency forensics business, identified four steps of the TerrsUSD (UST) stablecoin’s de-peg to the US dollar , which occurred two weeks ago. The hypothesis about UST being attacked by a single powerful entity, which has been widely debated on Crypto Twitter, according to Nansen’s full report released today, on May 27, 2022, is nonsense. 1/ What really happened to $UST ? After weeks of work from our team of researchers, here's an in-depth look at the $UST crisis that...

The post While Terra’s LUNA 2.0 Goes Live, Here Is Why Coinbase Decides To Stay Away appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Following the majority of crypto exchanges’ support for the Luna 2.0 airdrop, Binance is the most supportive, Coinbase’s silence here is growing louder. Coinbase said that trade in UST and WLUNA, an Ethereum token that represents LUNA, will be suspended on Friday, May 27, 2022, at or around 12 p.m. ET, in the midst of the Terra LUNA crash.  This decision of suspension will be affected Coinbase, Coinbase Pro, and Coinbase Exchange which will be enacted today. On Friday, May 20, Coinbase Cloud, the company’s infrastructure arm, announced the termination of support for Terra and all future Terra chains. Despite other exchanges announcing preparations to welcome the new Luna 2.0 cryptocurrency, the US business has been silent and says it has no plans to list it. Kraken to Support Luna 2.0 Airdrop On the other ha...

The post Crypto Market Collapses Ahead of LUNA 2.0 Launch, How the Price of New LUNA Token React to This? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Bitcoin prices trade sideways, extending their consolidation phase and bumping the altcoins into a deep bearish trend ahead. As more than $500 million have been dried up from the market in the past 24 hours, the fear and the uncertainty among the traders can be sensed. The 9-straight weekly candles on the BTC price chart signify the bottoms of the current bear cycle has yet to be achieved.  So, will the crypto bear market ignited by the LUNA-UST crash, be stabilized with the launch of the new LUNA 2.0? The snapshot of the holders holding LUNA during the mentioned time has already been processed. And hence exchanges that have stepped forward to support have also announced the distribution of the new tokens as they receive. But is the previous scenario repeating again? Where-in market ignited ...