$88,026.00
1.13%$2,065.77
-0.08%$2.47
1.19%$630.95
-1.16%$144.40
1.36%$0.999868
-0.00%$0.205094
10.77%$0.768946
2.33%$0.22982
1.14%$2,062.76
-0.15%$87,837.00
0.81%$15.90
3.62%$22.70
3.25%$0.0000156
16.09%$0.297209
2.13%$9.78
0.28%$3.61
-1.32%$2,471.65
-0.16%$0.198253
0.71%$0.999586
-0.04%$2.56
6.53%$95.48
2.79%$4.72
1.97%$339.23
3.55%$6.82
1.69%$5.04
1.85%$2,065.38
-0.13%$0.819137
-10.72%$16.16
-0.91%$0.999392
-0.01%$1.00
-0.14%$2,195.13
-0.16%$7.02
-0.73%$29.24
0.21%$227.27
2.79%$0.00000886
11.33%$3.03
3.21%$5.98
0.87%$1.046
0.29%$1.16
0.07%$6.31
2.65%$50.49
0.80%$0.953252
2.01%$23.97
1.08%$0.106082
-0.01%$35.77
2.47%$0.848149
0.46%$187.02
-1.32%$18.53
1.13%$87,938.00
0.97%$0.999885
0.27%$11.84
2.93%$276.49
2.38%$0.02722861
3.79%$0.428767
2.96%$4.91
1.31%$4.12
5.19%$0.243625
10.03%$3.66
0.36%$3.18
2.00%$0.0781
1.02%$0.62207
2.34%$1.00
0.00%$87,847.00
0.86%$0.398601
2.45%$0.215642
5.26%$4.02
-0.01%$6.21
-1.90%$1.00
-0.07%$0.571342
0.51%$0.922264
1.64%$0.571876
1.02%$11.33
0.01%$87,935.00
1.18%$0.539934
18.27%$2,066.82
-0.15%$2,148.31
-0.05%$0.677126
8.23%$0.00001515
8.83%$1.17
1.94%$0.962859
4.11%$0.073565
-0.50%$150.51
1.03%$78.24
-0.45%$1,337.11
5.48%$0.734466
6.30%$10.94
3.90%$0.216018
4.20%$1.02
4.87%$0.99971
-0.10%$0.106481
3.10%$2,335.21
-0.20%$17.31
-0.20%$1.073
1.10%$0.997886
0.02%$0.01501652
1.99%$0.587344
2.09%$8.05
2.86%$0.01885867
3.53%$1.00
-0.06%$2,191.09
-0.31%$82,700.00
-4.37%$0.999983
0.03%$630.88
-1.16%$2.49
7.55%$0.31388
4.18%$0.735424
1.79%$0.204873
8.06%$1.00
-0.08%$3,034.19
0.00%$0.562841
10.38%$0.00000073
4.39%$87,871.00
1.07%$35.61
1.61%$2.40
-7.06%$184.13
1.05%$0.00007269
7.90%$0.435222
2.24%$3,029.17
0.01%$0.110717
2.89%$0.01312008
3.05%$2,149.77
-0.10%$0.174493
2.44%$1.001
0.08%$0.620376
11.43%$3.37
0.70%$158.05
1.38%$0.00102676
-19.95%$18.16
1.82%$2.07
6.27%$0.641977
5.26%$37.29
8.29%$0.00646489
1.44%$3.62
3.09%$0.752087
2.66%$0.572084
4.74%$8.09
2.82%$7.98
0.06%$0.999717
-0.01%$19.51
0.47%$0.288041
3.11%$0.492124
2.48%$0.818438
0.83%$0.999508
0.13%$0.204843
10.92%$0.074009
-0.59%$86,643.00
1.56%$0.182137
2.87%$0.806546
0.15%$0.999972
0.05%$2,191.03
-0.24%$7.49
0.27%$0.00921266
2.21%$0.095939
3.13%$2.93
2.68%$1.33
6.11%$2,065.41
-0.18%$0.04918538
1.93%$1.00
-0.00%$0.577595
3.32%$0.00002326
2.84%$0.455315
0.03%$0.00721708
1.31%$88,012.00
0.95%$0.00798051
8.55%$2,063.65
-0.14%$1.60
10.53%$87,082.00
0.28%$0.540577
2.19%$0.00000043
0.18%$26.08
0.04%$0.243561
10.11%$2,065.37
-0.11%$0.442015
6.09%$110.45
0.01%$45.63
2.29%$1.001
0.00%$1.081
0.11%$0.04083258
11.46%$0.00000194
-1.14%$2,154.82
-0.02%$87,695.00
0.77%$0.19486
-1.97%$1.092
-0.41%$0.921772
1.02%$0.01131546
-1.05%$2,076.29
-1.86%$0.00006723
3.04%$2,063.97
-0.28%$0.00425436
1.13%$87,415.00
1.03%$1.42
0.23%$1.49
5.63%$0.285472
1.60%$0.999383
0.02%$0.296541
4.21%$132.30
0.34%$1.001
-0.03%$2.97
7.73%$2,046.49
-0.28%$1.36
2.65%$1.005
-0.05%$1.00
-0.08%$4.12
3.08%$0.929129
2.40%$2,066.54
-0.01%$0.03092584
0.75%$18.49
1.85%$0.218201
1.26%$0.102886
1.91%$0.081696
2.18%$24.48
3.04%$1.21
4.53%$1.41
2.33%$2,259.81
0.00%$0.293682
1.72%$2,179.96
-0.00%$88,206.00
1.33%$0.668484
4.97%$0.00391102
10.08%$0.28651
8.30%$2.99
-1.09%$87,962.00
1.00%$0.03579093
3.10%$0.04066666
2.31%$0.00272305
2.55%$0.121685
3.60%$2,241.62
-0.05%$0.270121
1.27%$0.595037
10.19%$0.03489512
1.70%$0.52969
-1.51%$0.129175
8.28%$0.01338198
2.84%$0.00292284
5.56%$1.001
0.04%$2,061.77
-0.14%$0.4714
3.59%$0.00562202
3.48%$3,020.99
-0.04%$0.751559
2.64%$0.651063
4.55%$1,767.26
1.12%$0.00000012
-20.01%$0.00
5.95%$0.24949
1.55%$0.285237
-0.45%$0.00270568
19.20%Reading
After a short absence from Twitter and social media, Terra co-creator Do Kwon emerged on Friday to propose an "ecosystem revival plan" for the network.
In it, he suggests that UST is not coming back—and the Terra blockchain must redistribute tokens to move forward.
"The holders of Luna have so severely been liquidated and diluted that we will lack the ecosystem to build back up from the ashes," writes Kwon on the Terra research forum. "While a decentralized economy does need decentralized money, UST has lost too much trust with its users to play the role."
Instead of building back with UST, Kwon proposes revitalizing the network around the Terra blockchain network: "We’ve built up one of the largest and most vibrant developer ecosystems in crypto, with some of the smartest minds in the world working on products with the best UI/UX."
Crypto bloodbath! How low will the major coins go, and what about Terra and stablecoins? Decrypt’s Dan Roberts, Jeff Benson, Stacy Elliott and Jason Nelson will discuss the news and parse through what’s happened and what might happen next.
To "preserve the community and the developer ecosystem," Kwon proposes resetting the distribution of the network's LUNA governance tokens to 1 billion, 40% of which would be redistributed to holders before Terra's UST stablecoin became de-pegged from the U.S. dollar over the weekend.
Another 40% will go to those who hold UST at the time of the upgrade. A further 10% would go to LUNA holders when the blockchain was halted today for a second time in 24 hours. The remaining 10% would be used to pay for future development on the network.
The price of LUNA fell nearly 100% in the span of a few days as UST, the stablecoin it backs, slipped from a $1 peg. LUNA is now trading for a fraction of a penny, while UST is selling for $0.15 on the dollar.
While crypto markets staged a rebound Friday morning, the MakerDAO governance token, MKR, was up 30% as investors bet on its DAI stablecoin amid Terra's ongoing collapse. Early Friday, MKR was the eighth-largest DeFi (decentralized finance) token with a market cap of $1.4 billion, according to CoinMarketCap. Meanwhile, DAI had become the fourth-largest stablecoin with a market cap of $6.47 billion. The surge in interest was enough to make MKR the second-largest DeFi token, accounting for 7% of t...
UST and LUNA were designed to work in tandem, with the former kept near $1 via a burn mechanism that encouraged traders to take advantage of arbitrage opportunities. But as interest rates in the network's primary use case, Anchor Protocol, declined, capital fled, leading to a death spiral.
Plenty of projects are building on the Terra network. But there are also other blockchains that are signaling an openness to absorb such teams into their own networks.
The Terra network has already lost most of its financial capital. Now, it must work fast to preserve its human capital.
There’s a wry humor in the fact that Bitcoin has at times been very closely correlated with traditional markets. Bitcoiners generally prefer that BTC not have a high correlation with traditional assets, like stocks and bonds. After all, one of the core tenets of the world’s largest cryptocurrency by market capitalization—$379 billion as of this writing, according to CoinGecko—is that it bypasses traditional finance. That’s why self-avowed Bitcoin fans, like Gemini co-founder Cameron Winklevoss,...
People moving on from the “speculative bubble” that is crypto, NFTs, and meme stocks is a positive sign for the U.S. economy, according to Wall Street heavyweight Ken Griffin. Miami-based trading firm Citadel Securities’ founder said in a Wednesday interview with CNBC that government handouts in 2020, in response to the COVID-19 lockdowns, led to investors pumping their cash into “speculative assets” like NFTs, crypto, and meme stocks. So-called meme stocks, shares of companies that gain a fol...
Institutional investor Bitcoin sentiment turned pessimistic on Friday as short Bitcoin inflows hit an all-time high, according to a new report from CoinShares. Short Bitcoin funds give investors exposure to derivatives, like futures and options, that bet against the price of Bitcoin. While investors can enter into those contracts directly, the CoinShares report tracks the flow of funds for exchange-traded products. By the end of last week, short Bitcoin investment products hit an all-time high...
