CryptocurrencyTerra Collapse Teaches About ‘Crypto’ And Bitcoin

Terra Collapse Teaches About ‘Crypto’ And Bitcoin


Terra is crumbling.

The blockchain project home to the popular algorithmic stablecoin TerraUSD (UST), which had recently become the fourth-largest stablecoin by market value but now sits at fifth, is near collapse as UST repeatedly fails to sustain its $1 peg and LUNA, the blockchain’s native token, nears zero.

Terraform Labs, the tech start-up behind the development of Terra, halted the production of new blocks on the network on Thursday “to prevent goverance attacks following severe $LUNA inflation and a significantly reduced cost of attack,” it said on Twitter.





Original Source Link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Atlanta Season 3, Episode 9 Is A Mixed Bag Of Disappointment

The show's interpretation of Blackness is limited in the same way that the episode is attempting to critique...

Elon Musk says Twitter deal on hold pending details on fake accounts

Elon Musk, during an event at SpaceX headquarters in Hawthorne, California, U.S., on Thursday, Oct. 10, 2019.Bloomberg /GettyElon...

European shares rise as traders assess future path of monetary policy

European and Asian stocks rose on Friday after the chair of the US central bank talked down the...

9 Great Sex Tech Deals for Masturbation May (2022): Vibrators, Suction Toys, and More

May is National Masturbation Month! That's an entire month to celebrate and practice one of the healthiest ways...

Must Read

Business leaders understand cost of living crisis better than politicians

The Queen’s Speech this week paved the way...
- Advertisement -

You might also likeRELATED
Recommended to you