In brief
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$84,921.00
0.90%$1,584.56
-0.27%$2.06
-0.69%$589.08
1.11%$135.19
3.18%$0.999972
-0.00%$0.24635
0.94%$0.154537
-0.62%$0.614936
0.52%$1,582.65
-0.29%$84,848.00
0.86%$9.24
-2.05%$12.53
1.12%$19.05
0.86%$2.96
0.98%$0.240911
2.48%$0.999902
-0.02%$0.164337
4.56%$0.00001174
-0.78%$2.13
3.58%$1,899.65
0.06%$330.49
1.07%$17.23
8.84%$75.16
1.08%$3.65
2.65%$1.00
0.09%$4.37
0.95%$0.999275
-0.00%$1,584.72
0.10%$0.615373
0.45%$27.88
0.57%$215.54
-1.45%$1,687.32
-0.01%$84,901.00
0.73%$5.17
-0.61%$50.17
-2.94%$0.00000711
0.17%$4.59
-0.85%$34.88
3.59%$22.52
0.32%$0.830542
0.69%$1.048
-0.03%$1.00
0.00%$2.05
4.00%$0.083335
-0.31%$4.70
0.61%$15.06
1.77%$0.66916
-4.09%$258.33
12.15%$1.17
0.01%$138.74
2.50%$4.02
10.36%$0.075861
0.17%$0.02269704
2.04%$4.11
2.69%$4.23
0.17%$84,481.00
0.56%$0.188118
4.26%$0.998998
0.12%$0.182486
2.15%$2.39
0.10%$0.278532
2.83%$7.58
-2.02%$0.47152
1.75%$2.37
4.60%$3.85
1.41%$84,787.00
0.89%$0.283374
1.85%$0.497576
8.48%$10.07
-1.91%$1,347.33
-0.17%$141.09
2.67%$0.999983
-0.05%$0.070781
0.42%$0.643449
0.73%$0.368112
1.76%$3.89
-1.87%$1.023
0.50%$1,584.71
-0.25%$0.01515111
3.43%$65.40
1.19%$0.622062
2.29%$1,645.62
-0.31%$0.00001189
1.79%$0.701727
1.66%$0.580651
0.75%$0.999777
-0.02%$0.167445
0.97%$1.00
0.12%$3,341.67
-0.32%$0.999894
-0.01%$13.87
1.59%$0.786177
-10.00%$0.587704
-4.20%$3,344.79
-0.18%$0.422536
4.61%$1,784.65
-0.10%$7.75
0.44%$84,419.00
0.94%$589.33
1.19%$0.076489
0.37%$0.998082
0.02%$84,820.00
0.86%$2.28
3.50%$0.01352713
0.73%$148.68
2.91%$0.628949
-0.53%$173.53
3.01%$0.999515
0.02%$1,683.18
-0.42%$0.686776
-0.29%$3.43
-4.11%$0.63826
-8.54%$0.249151
2.04%$0.01826278
3.46%$0.01379344
0.85%$0.245644
2.16%$0.00000061
0.80%$0.100963
1.94%$1.095
0.69%$0.156945
0.82%$0.579608
-0.64%$28.21
1.55%$0.347661
0.93%$0.00005499
1.61%$1.81
1.76%$0.495426
1.40%$0.404283
0.72%$1.59
1.06%$0.269786
2.34%$0.136702
9.81%$0.998423
-0.07%$3.07
-2.94%$1,657.05
-0.03%$83,553.00
-1.97%$30.67
0.73%$0.067994
0.42%$0.999986
0.00%$82,951.00
1.48%$1.70
1.79%$0.427701
-0.24%$13.87
0.57%$0.999986
-0.00%$84,852.00
0.93%$0.559076
2.48%$83,087.00
0.00%$0.00000043
2.16%$0.451741
0.79%$1.98
-2.87%$0.00451369
-3.14%$0.00719277
6.17%$110.75
0.03%$0.998901
-0.28%$1.073
0.01%$1,653.44
-0.51%$1.13
0.88%$0.154225
-0.71%$5.60
2.56%$13.79
1.66%$0.00001952
3.10%$84,511.00
0.56%$1,684.83
-0.42%$0.380128
1.01%$3.47
-7.32%$22.84
-0.38%$1,582.82
0.09%$0.559384
4.90%$0.999312
-0.05%$2.22
3.10%$39.42
0.53%$0.121224
2.32%$1,584.40
-0.49%$0.996427
-0.39%$0.821846
14.79%$1,584.33
-0.47%$1.00
-0.00%$1,583.36
-0.44%$0.03448186
7.69%$0.03562068
1.17%$0.129025
-1.36%$5.14
5.00%$0.064921
1.98%$0.415283
0.21%$1.001
0.28%$0.01676933
1.07%$0.161128
2.13%$0.276608
8.71%$0.999845
-0.01%$0.999324
-0.03%$0.182426
2.06%$0.00005806
0.88%$0.389819
0.37%$0.751583
1.53%$0.068398
4.33%$0.00590443
5.23%$0.00490083
8.16%$0.03053263
0.44%$0.484014
0.08%$0.00351098
1.06%$0.999783
-0.09%$1,616.45
0.63%$1.00
-0.16%$108.04
-0.23%$3.49
-7.61%$84,905.00
0.90%$3,232.49
0.03%$0.287744
1.54%$2.41
2.97%$84,650.00
0.76%$0.127335
-0.31%$0.260073
2.57%$2.75
0.45%$3.89
2.43%$1.03
1.57%$0.00000124
-7.59%$1,568.21
0.29%$0.557494
0.65%$20.37
1.29%$0.200914
1.32%$0.250921
4.27%$0.999933
-0.02%$1,584.16
-0.27%$0.523246
3.70%$0.03390622
-4.22%$21.20
0.18%$1,674.92
0.01%$0.02739305
2.62%$0.409117
3.16%$1,704.78
0.89%$0.165767
0.08%$0.00258253
7.01%$0.45567
1.15%$19.04
0.69%$0.00037285
-4.62%$0.01136968
3.70%$0.998876
0.01%$0.096943
1.97%$0.222527
-5.27%$0.917428
7.49%$0.999866
-0.02%$2.02
4.02%$1.14
-0.09%$84,651.00
0.78%$1,735.99
-0.31%$0.084669
7.68%$0.248873
4.26%$0.618949
0.96%$1,722.75
0.02%Reading
Terra’s LUNA mooned late last week, as the rebooted version of the crypto token surged 247% early on Friday. But while the token has still picked up massive value over the last week, the ascent has stopped: now it’s down by more than a third from its recent peak.
At a current price of $4.17 per coin, LUNA has dropped a total of 38% from its Friday peak of $6.72, per data from CoinGecko. That price was the highest price seen for LUNA since June 1, shortly after the second-generation coin launched and was airdropped to holders of the previous LUNA cryptocurrency, which has since been renamed LUNA Classic (LUNC).
While that is a sizable drop, LUNA has still maintained quite a bit of its recent rise. It’s still up 133% over the last seven days, more than doubling in recent days after spending months hovering around the $2 mark.
The twin collapses of Terra’s UST stablecoin and LUNA cryptocurrency are widely blamed for at least partially causing May’s market-wide crypto crash, resulting in a cascade of crumbling crypto valuations. But after all the turmoil—believe it or not—the rebooted LUNA and the rebranded LUNA Classic (LUNC) have both skyrocketed in recent days. LUNA has increased in value by 166% over the last 24 hours to reach a current price of over $5, per data from CoinGecko. It’s a surprising surge for a coin t...
Interestingly, other coins in the Terra ecosystem have charted similar pops and drops in recent days. LUNC, for example, has fallen 43% since late last week’s peak, and is down 17% over the last 24 hours at a current price of $0.0003. Even so, LUNA Classic remains up 33% on the week and 242% over the last 30 days.
Meanwhile, TerraClassicUSD (USTC)—formerly a dollar-pegged stablecoin called UST—is down 10% on the day at a price of $0.047, but is still up nearly 54% over the last week and 61% over the past 30 days. The wider crypto market is up about 1% today, for reference.
Under their previous respective monikers, LUNC and USTC collapsed in early May as the stablecoin lost its dollar peg and the paired LUNA cryptocurrency sank as a result. LUNA and UST were collectively worth tens of billions of dollars’ worth of total market cap, and their simultaneous decline helped trigger a wider crypto market crash.
LUNC’s rise in recent weeks has been more gradual than LUNA, and has come amid community-led initiatives to rebuild the crumbled ecosystem—including a transaction tax that will be spent to buy up and burn (or permanently destroy) coins to cut the overall supply.
Eat your Decrypt-O’s! In the debut episode, Sander Lutz hits the street to ask people about their privacy concerns in the wake of the government’s Tornado Cash crackdown; Kate Irwin shares headlines on the wackiest Web3 stories, from Crypto.com sending a woman $10 million by accident to Eminem and Snoop Dogg getting Twitter hate for their Bored Apes; and Dan Roberts serves up a rant about Gary Gensler. (Production and editing by Zack Edelman.)
Meanwhile, LUNA is a new cryptocurrency from original creator Do Kwon and Terraform Labs, and is his own attempt to resuscitate the Terra ecosystem following May’s crash. It’s still not entirely clear why the rebooted LUNA surged in value last week, although it may have been a residual effect from LUNC’s own recent jump.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Bitcoin miners may be struggling as the price of the biggest cryptocurrency by market value trades sideways, and investors sell off their equity—but stablecoin giant Tether is betting big on one of the sector's largest players, purchasing about $32 million in equity in publicly traded Bitdeer in April. An SEC filing shows Tether snapped up the shares as the price of Bitdeer’s stock dropped. Tether did not immediately respond to Decrypt’s questions, but the company has increased its interest in t...
Bitcoin's safe-haven narrative isn't living up to its mythical status, according to JP Morgan, with investors instead preferring to put their cash into gold amid recent market volatility spurred by President Trump's global trade war. Analysts at the top investment bank said in a Thursday report that gold exchange-traded funds and futures are receiving most of the investment action, as speculators look for a safe bet. Gold's price has soared since last year, and this week hit a new high over $3,...
The price of Solana (SOL) rose to its highest price so far in April on Thursday, outpacing other top coins following the launch of multiple Solana ETFs in Canada with staking capabilities, along with long-awaited Solana infrastructure upgrades at centralized exchange Coinbase. Solana is currently trading for nearly $136, per data from CoinGecko, reaching that level for the first time since March 28. SOL is up 6% on the day, outpacing daily gains from Bitcoin, Ethereum, XRP, and other top 10 coin...