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The post Stablecoins Are Not Stable Unless They are Backed by Assets. Here’s Why appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The spectacular collapse of algorithmic stablecoin TerraUSD (UST), and a sister stablecoin LUNA, have shocked the crypto market. The collapse had affected the largest cryptocurrency bitcoin as well, hence this negative impact had made people completely pull out of the crypto market. Reacting to this, the managing director of IMF requested to not pull out of crypto completely with this collapse. In the World Economic Forum’s annual meeting in Davos held on Monday, Kristalina Goergieva, the managing director of the International Monetary Fund addressing cryptocurrency, requested people not to completely evade crypto. The IMF director’s statement recorded by Bloomeberg said: “I would beg you not to pull out the importance of this world. It offers us all faster service, much lower costs, and more inclusion, but ...
The post Crypto Winter On Horizon With The Great Capitulation Dump Of 2022 ! appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide The crypto winter is about to come, but every winter begins with a capitulation sell-off… bringing What is the real cause behind it? Let’s get deep into the market analysis of possible fraud and scam encircling the top crypto Terra Luna: According to the youtube channel crypto chico , There might be one greater implosion that rocks the crypto markets, even making the biggest Now many investors believed Celsius had overexposed themselves to Terra Luna and UST. However, the CEO of Celsius Alex Mashinsky took to Twitter to dispel the rumors. Celsius Network, a crypto lender, has seen the value of assets placed on its platform drop by half this year, a reminder of the pressure the industry is under as digital token prices continue to decrease. According to its website, as of May 17, Celsius had just under $12 billi...
The post New Ethereum Cardano Bridge to Enable Interoperability : lagon’s Migration From Ethereum Blockchain to Cardano appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Gimbal Reached a new stage of interoperability as lagon Ethereum-Cardano symbolic bridge is released in beta. A decentralized cloud computing platform, lagon announced its migration from the Ethereum blockchain to Cardano, In late April. In addition, it announced the completion of 50% migration of its token supply from Ethereum to Cardano, 500 million IAG tokens collectively. Cardano token bridge goes live in beta version and hits another interoperability milestone as the lagon Ethereum. The token bridge was built to support the conversions, such as the conversion of ERC-20 IAG tokens into CNT IAG tokens. The bridge relies on solutions provided by Milkomeda, a Layer 2 protocol, and a Nomad protocol. With the help of these tokens, the different blockchains ...
The post Law Suit Filed Against Elon Musk by Twitter Investors! Here Is What the Investors Claim appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide Following a brief halt to Elon Musk’s Twitter purchase, the stage appears to be set for a lengthy battle before the dust settles. The billionaire’s purchase of Twitter may have hit a stumbling block as a result of investors filing lawsuits. Elon Musk To Face A Lawsuit Investors in Twitter have sued Elon Musk, according to Reuters, over his delayed disclosure of his interest in the company. This was stated in a federal court complaint filed in California on Wednesday, 25th May. Elon Musk saved $156 million by failing to reveal his whole interest in the social media platform as of March 14, according to the main argument. They claim that by the said date, he had purchased more than 5% of Twitter. Musk Used Market Manipulation They claimed that the billionaire used market manipulation to buy the company’...
The post Along With UST, These Wallets Will Be Excluded From Terra 2.0 appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide As per the announcement, The UST stablecoin will be completely removed from Terra’s resuscitation plan, which is expected to debut this week However, it’s just not that, also three wallets that were crucial in the original chain will be excluded from the new Terra 2.0 network. Terraform Labs (TFL), the Luna Foundation Guard (LFG) , and the existing community pool will all be eliminated from Terra 2.0, according to a post from Terra’s official Twitter account. 8/ TFL’s wallet (terra1dp0taj85ruc299rkdvzp4z5pfg6z6swaed74e6), LFG’s wallet (terra1gr0xesnseevzt3h4nxr64sh5gk4dwrwgszx3nw) and the distribution module where the Community Pool lives (terra1jv65s3grqf6v6jl3dp4t6c9t9rk99cd8pm7utl) will be removed in the airdrop whitelist. — Terra Powered by LUNA (@terra_money) May 25, 2022 Also the wallets will not have access to th...
The post Here Is Why Polygon Comes Forwards To Aid Terra 2.0 Blockchain appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide A new initiative could aid the town even more after the Terra revival plan was officially passed earlier on Tuesday. On May 27, the new Terra 2.0 blockchain will be live, and Polygon has created a fund to aid Terra migration. Polygon, meanwhile, announced the creation of a multi-million dollar fund to assist Terra blockchain developers. According to Techcrunch, Polygon’s chief executive officer Ryan Wyatt stated that the company has a “relatively unconstrained multi-million dollar fund.” The fund will aid projects created on the Terra blockchain in their transition to the Polygon blockchain. This news follows Polygon’s prior offer of assistance to the Terra community. Ryan Wyatt claims that the fund will be financed by a $100 million ecosystem fund, as well as the $450 million Polygon has already raised. I don’t want to place...
The post Terra 2.0 Gets A Positive Response From Binance! Here Is How The Exchange Plans To Support appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide On Wednesday, 25th of May, Binance said that it is collaborating closely with Terra on the blockchain’s recently authorized revival plan. In a tweet, the world’s largest cryptocurrency exchange, Binance stated that it hopes to assist Terra crash victims. This advancement comes after the Terra community approved the rehabilitation proposal. The restoration plan was approved by 65.5% of holders, with just over 13% voting against the proposal. Terra will now introduce Terra 2.0, a new blockchain, as well as a new LUNA coin as a free airdrop to existing Terra users. Terra will now be called Terra Classic, and LUNA Classic will be its native token (LUNC). Binance To Support Terra In response to the Terra meltdown, Binance delisted LUNA and UST in May. UST had plummeted from its $1 price, while LUNA had ...
