The collateral damage of Terra’s collapse could continue to impact Avalanche price, especially considering that the Luna Foundation Guard holds 1.97 million AVAX tokens. Avalanche (AVAX) has emerged as one of the worst-performing cryptocurrencies among the top-ranking tokens in the last 24 hours, partially due to fears connected to Terra (LUNA) and it’s a near-dead UST algorithmic […]

SOL price has been repeatedly knocked down by network outages, a shrinking total value locked on the network and futures traders’ disinterest in trading the altcoin. The past thirty days have been an extremely bearish time for cryptocurrencies. The sector’s aggregate market capitalization plunged 33% to $1.31 trillion and Solana’s (SOL) downfall has been even more brutal.[…]

“It was clear to me, it was clear to many that I know that it was a bad idea,” said Tether and Bitfinex CTO Paolo Ardoino. Tether and Bitfinex CTO Paolo Ardoino said that the Terra (LUNA) project was not intended to be a rug pull, but was simply “poorly designed.” Speaking on the Terra ecosystem’s market-shattering crash,[…]

Participants of the accelerator program will get funding, mentorship and market exposure through the platform DeFi.org. In a new development for the decentralized finance space, Ethereum scaling platform Polygon has partnered with layer-3 project Orbs to launch a program that supports DeFi builders through the DeFi accelerator platform DeFi.org.  In an announcement, Polygon and DeFi.org noted that the[…]

“People will stop mining the coin if they can’t make money off of it,” according to Michael Bloomberg, who referred to the two previously hyped city coins. Despite being publicly endorsed by the respective mayors of both cities, MiamiCoin (MIA) and NewYorkCityCoin (NYC) have plunged 90% and 80% since their all-time highs. According to data from CoinGecko,[…]

These efforts are sure to help get many Terra projects back on their feet following last week’s devastating events. Numerous developers have been left in uncertainty in the aftermath of the Terra (LUNA) collapse. These Terra-based projects, which are already under a lot of pressure, may be able to save their communities and projects by migrating to[…]

Vitalik Buterin has called for relief for the average UST smallholder who got lured in by promises of high stablecoin yields by crypto influencers. Ethereum co-founder Vitalik Buterin thinks that the beleaguered Terra project should prioritize small hodlers as part of any proposed reimbursement plan. As widely reported, the Terra eco-system suffered a death spiral around May[…]

GAM Investments has called fake news on a fabricated announcement claiming it would invest $3 billion to help Luna/UST recovery efforts. GAM Investments has quashed fake news reports that surfaced on Friday that claimed the Swiss asset manager would invest some $3 billion to aid in the recovery of the Terra ecosystem, including LUNA and the TerraUSD (UST) stablecoin.[…]

A district court in Shanghai ruled for Bitcoin owner’s right to compensation in case involving unpaid loan and decided on Bitcoin legal status in the process. The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a[…]

Luna Foundation Guard is emptying its crypto reserves to bring its stablecoin back to its $1-peg, risking a massive AVAX selloff. Avalanche (AVAX) is paying the price for being one of the collateral assets that maintain Terra’s native stablecoin TerraUSD’s (UST) peg with the U.S. dollar. Major AVAX dump ahead? AVAX’s price dropped about 30% to reach  $32.50[…]