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Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470% – Market Updates Bitcoin News

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3 years ago

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Terra’s Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470% – Market Updates Bitcoin News

After the downfall of the 2 hottest crypto belongings on the Terra blockchain, the digital currencies terrausd (UST) and luna traditional (LUNC) elevated an excellent deal in worth in opposition to the U.S. greenback in latest occasions. Over the last seven days, LUNC has risen 96.3% and the once-stable coin UST has elevated 472.4% this week.

Luna Basic and the As soon as-Steady Coin UST Rise Considerably In opposition to the US Greenback

It’s fairly well-known on this planet of digital currencies that some crypto belongings by no means die. That appears to be the case with the 2 infamous crypto belongings luna traditional (LUNC) and terrausd (UST), a former stablecoin that’s typically known as terraclassicusd (USTC).

LUNC took the identify luna traditional as a result of Terra’s new token is now known as LUNA. UST was as soon as steady and held the $1 parity from October 2020 up till Might 9, 2022. When UST depegged it dropped beneath a U.S. penny, and tapped a low of $0.006 per unit on June 18, 2022.

Nevertheless, because the $0.006 per unit low, UST has jumped 617.5% from that vary. UST swelled by 472.4% this week to $0.0926 per unit on June 29. Whereas UST dropped in worth after that rise, it nonetheless held a 24-hour buying and selling vary of round $0.04217516 to $0.081822 on Thursday, June 30.

Terra's Crypto Tokens UST and Luna Classic Mysteriously Pumped This Week, UST Climbed by 470%

When UST depegged on Might 9, LUNC was already dropping in worth, however 4 days prior, LUNC was exchanging palms for $82 per unit. The day UST depegged, LUNC modified palms at a excessive that day at $61 per unit, however by the next day, it was buying and selling for $27 per LUNC.

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Since then, LUNC hit an all-time low 4 days after the depegging incident to $0.000000999967 on Might 13. Miraculously, not solely has LUNC risen 96.3% this week, it’s up 10,577% from the all-time low. On the time of writing, LUNC has seen $545.87 million in every day commerce quantity, whereas UST recorded $522.60 million throughout the previous 24 hours.

LUNC has a market valuation of round $812,399,236 with 6,907,072,876,045 LUNC in circulation as we speak. There’s 10,254,324,366 UST circulating proper now, which supplies UST a market valuation of round $477.73 million.

UST holders are nonetheless utilizing the Anchor protocol as 573,636,728 UST is locked within the system. The Anchor financial savings protocol on the Terra Station pockets guarantees a 16.26% annual proportion yield (APY).

Moreover, defillama.com statistics point out that there’s $9.23 million in LUNC held on the decentralized finance (defi) threat administration market Danger Harbor. The Terra Basic chain and luna traditional (LUNC) nonetheless have a reasonably energetic neighborhood by observing posts on social media.

Terra Basic nonetheless has energetic validators as nicely, and only recently a governance proposal was launched that may give validators a common minimal fee of 10%. One explicit validator referred to as LUNC DAO told its 29,000 Twitter followers that the validator was in opposition to the minimal fee price of 10%.

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On the time of writing, 37.04% voted in favor of the proposal and 24.80% stated no to the concept. In the meantime, the brand new LUNA 2.0 token has had a lackluster week in comparison with the digital foreign money’s siblings.

LUNA 2.0 is up 7% this week, however the brand new crypto asset that stems from the Terra Phoenix blockchain is down 76.6% throughout the previous month. Out of greater than 13,000 crypto belongings in existence as we speak, LUNA 2.0 instructions the 124th place with a $273 million market cap. The once-stable coin UST’s market capitalization ($477.73M), then again, holds the 87th place.

Tags on this story
Anchor, decentralized finance, DeFi, defillama.com, depegged, depegging, LUNA, Luna 2.0, LUNA 2.0 token, LUNC, LUNC DAO, Markets, markets and costs, As soon as-Steady Coin, Danger Harbor, TerraUSD, UST, Validators

What do you concentrate on UST’s and LUNC’s latest jumps in worth over the last seven days? Tell us what you concentrate on this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 5,700 articles for Bitcoin.com Information concerning the disruptive protocols rising as we speak.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss induced or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or companies talked about on this article.

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Sam Bankman-Fried calls Sean 'Diddy' Combs 'kind' in jailhouse interview with Tucker Carlson

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4 hours ago

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March 6, 2025

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Sam Bankman-Fried calls Sean 'Diddy' Combs 'kind' in jailhouse interview with Tucker Carlson

Just before his cryptocurrency empire crumbled in November 2021, Sam Bankman-Fried considered going on Tucker Carlson’s show to “come out as a republican” to rehabilitate his image. On Thursday, almost a year since the former FTX founder was sentenced to 25 years in prison for defrauding users of his cryptocurrency exchange, he finally fulfilled his plan. 

From “a little side room” of Brooklyn’s Metropolitan Detention Center, Bankman-Fried spent his 33rd birthday dishing to Carlson in a wide-ranging interview, which included new details about life in prison with his cell block mate, Sean “Diddy” Combs. As NBC previously reported, Bankman-Fried and Combs, who has been charged with sex trafficking, are being housed in the same unit. 

“I’ve only seen one piece of him, which is Diddy in prison, and he’s been kind to people in the unit; he’s been kind to me,” Bankman-Fried told the former Fox News host on “The Tucker Carlson Show.” “It’s also — it’s a position no one wants to be in.”

Bankman-Fried, 33, was convicted in November 2023 of seven counts of wire fraud, securities fraud and money laundering for swindling customers of FTX and lenders of Alameda Research, its associated hedge fund. Prosecutors said Bankman-Fried “perpetrated one of the biggest financial frauds in American history.”

A chief public information officer for the US Attorney’s Office for the Southern District of New York declined to comment.

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Life behind bars

Bankman-Fried told Carlson that he has “made some friends” at the Brooklyn center, where sources told NBC he is in a unit for detainees that need extra protection. 

“It’s sort of dystopian,” Bankman-Fried said. “You know, the fortunate thing, the place I’m in, I’m not in … I’m not in physical danger.”

He said the unit has defendants of high profile cases and “a lot of ex-gangsters — or alleged ex-gangsters.” When asked how cellblock mates feel about being housed with him and Combs, Bankman-Fried theorized that some of them think “this is a big opportunity to meet people they wouldn’t otherwise get to meet.”

“They’re good at chess. That’s one thing I learned,” Bankman-Fried added. “Former armed robbers who don’t speak English and probably didn’t graduate middle school, a surprising number of them are fairly good at chess. I’m not saying they’re grand masters, but I lose games to them all the time. I was not expecting that.”

In addition to playing chess and working on his appeal, Bankman-Fried told Carlson he has started to read novels again. Carlson noted that Bankman-Fried seemed “less jumpy” and “healthier” after two years in prison. The former Fox host then said it seemed like Bankman-Fried was “flying high on Adderall” in his previous TV appearances. 

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Bankman-Fried denied ever being on the drug. “But I was pretty out of it. My mind was racing because there were, you know, a billion things to keep track of,” he added.

His changing political stance

Bankman-Fried described how his politics have evolved over the last five years from being a major Biden donor to having a better relationship with Republicans than Democrats by the time he went to trial. 

“One fact that might be relevant. In 2020, I was center-left and I gave to Biden’s campaign,” he said. “I was optimistic he’d be a sort of solid center-left President. I spent the next few years in D.C. a lot. I made dozens of trips there, and was really, really shocked by what I saw — not in a good direction — from the administration.”

“By late 2022, I was giving to Republicans privately as much as Democrats. And that started becoming known right around FTX’s collapse, so that probably played a role,” he added, noting that he believed in ideas from both sides of the aisle.  

In his trial, prosecutors showed a document where he considered ways to rehabilitate his public image after FTX collapsed, including going on Carlson’s show to “come out against the woke agenda.” Carlson asked him if he called in political favors during his trial, which Bankman-Fried denied because he didn’t want to do “something inappropriate.” 

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His optimistic view on the future of crypto

Bankman-Fried said “hopefully” things are moving in the right direction for cryptocurrency under Trump, noting that there are already a lot of “good things” happening.

“So I think the big question is, you know, when rubber meets the road, like, will the administration do what needs to be done and figure out how to do it?” he said. “Right now, crypto is not at the point where it could become an everyday tool.”

Carlson also asked Bankman-Fried if he believes “there is a lot of shady behavior in the crypto business.” Bankman-Fried said that a decade ago, he may have agreed, but the business is now “a lot smaller” and more regulated. 

Bankman-Fried’s financial status

Carlson asked the former billionaire if he has “any money” left — and Bankman-Fried admitted “basically no.” In addition to his prison sentence, Bankman-Fried was ordered to pay $11 billion in forfeiture. 

“The company that I used to own … had nothing intervened, today it would have about $15 billion of liabilities and about $93 billion of assets. So the answer should be, in theory, yes there was enough money to pay everyone back in kind,” he said. “But, that’s not how things worked out. Instead, it all got roiled up in a bankruptcy.” 

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“It’s been a colossal disaster,” he said. “Not stopping that from happening is by far the biggest regret of my life.”

His birthday plans in prison

Bankman-Fried, who spoke with Carlson on Wednesday, said he has no plans. He explained that he was never “big on birthdays on the outside” and was not looking forward to “celebrating another year in prison” for his 33rd birthday on Thursday. 

“So you’re not going to tell Diddy it’s your birthday tomorrow? I don’t believe you,” Carlson asked. 

Bankman-Fried responded that while he was not planning to tell Combs about his birthday, “someone else might tell him.”

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Emirates NBD enters cryptocurrency space

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16 hours ago

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March 6, 2025

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Emirates NBD enters cryptocurrency space

Emirates NBD’s digital banking unit Liv has added cryptocurency trading to its mobile banking app.

Editorial

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community.

The new offering has been introduced in partnership with Aquanow, a global virtual asset service provider licensed by Dubai’s Virtual Assets Regulatory Authority.

London-based digital asset custodian Zodia will provide custody services for the new venture. Emirates NBD made a strategic investment in Zodia Custody in December.

Upon go live, customers will be able to buy, sell and trade cryptocurrencies within the Liv X app, whilst also managing their day-to-day finances.

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The UAE is swiftly evolving to become a progressive crypto hub following landmark crypto-friendly policies and the highest cryptocurrency adoption rates in the world. About 30% of the population owns cryptocurrency and the crypto market is expected to increase by 8% year-on-year over the next four years.

Between July 2023 and June 2024, a Chainalysis report estimates the UAE received over $30 billion in crypto, ranking the country among the top 40 globally in this regard and making it Mena’s third-largest crypto economy.

Marwan Hadi, group head of retail banking and wealth management at Emirates NBD, says: “We are excited to introduce our new cryptocurrency offering on Liv X, in partnership with Aquanow, giving customers the opportunity to buy, sell and trade cryptocurrencies conveniently and securely. Offering cryptocurrency on Liv X is the next step towards the overall vision of Liv being a pioneer in innovation and excellence. With the highest crypto adoption rate in the UAE, we are keen to launch our own virtual asset offering to capitalise on this trend.”

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Bitwise files to list a spot Aptos ETF — the 36th largest cryptocurrency

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1 day ago

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March 5, 2025

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Bitwise files to list a spot Aptos ETF — the 36th largest cryptocurrency

Crypto asset manager Bitwise has filed to list a spot Aptos exchange-traded fund in the US — a token created by a team led by two former Facebook (now Meta) employees in 2022.

Bitwise filed an S-1 registration statement to list the Bitwise Aptos (APT) ETF on March 5, eight days after Bitwise indicated it would make such a filing when it registered a trust linked to the Aptos ETF in Delaware on Feb. 28.

The Aptos filing adds to the list of altcoins currently in the line to win the securities regulator’s approval.

Bitwise opted not to include a staking feature for the proof-of-stake powered Aptos blockchain and listed Coinbase Custody as the proposed custodian of the spot Aptos ETF. It has yet to specify which stock exchange it would be listed on.

A proposed fee or ticker wasn’t included either. Bitwise will also need to file a 19b-4 form for its Aptos ETF application and for the SEC to acknowledge it before the 240-day clock begins for the SEC to make a decision.

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Source: Aptos

The Aptos filing marks Bitwise’s latest effort to expand from the spot Bitcoin (BTC) and Ether (ETH) ETFs it currently has on offer. It has also recently filed to list a spot Solana (SOL), XRP (XRP) and Dogecoin (DOGE) ETFs in recent months.

While Bitwise’s other US spot ETF filings have been aimed at the top tokens by market capitalization, Aptos appears to be an outlier, ranking 36th by market capitalization of $3.8 billion, according to CoinGecko.

Aptos was developed by Aptos Labs, a company founded by two former Facebook employees, Mo Shaikh and Avery Ching, in 2021. 

It emerged as a potential “Solana killer” when it launched in October 2022 as a high-speed, low-cost layer-1 blockchain. However, its market cap is currently only one-nineteenth the size of Solana’s, CoinGecko data shows.

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APT is up 14.4% over the last 24 hours to $6.25, CoinGecko data shows.

Related: NYSE Arca proposes rule change to list Bitwise Dogecoin ETF

Aptos boasts the 11th largest total value locked among blockchains at $1.03 billion, according to DefiLlama data. Over $830 million of that consists of stablecoins.

Real-world assets such as Franklin OnChain US Government Money Fund (FOBXX) have also been tokenized on the Aptos blockchain.

Bitwise isn’t a stranger to Aptos, having launched an Aptos Staking ETP on Switzerland’s SIX Swiss Exchange in November that offers a 4.7% return on staking yield.

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