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Top Crypto News today: Can Do Kwon revive LUNA?

This week has been pretty hard for the entire crypto space. The Terra ecosystem bled, and it bled to death. Bitcoin continued to slash hard for a long time as the prices remained below INR 24 lakhs with a major drop of 1.5% compared to the other day. While LUNA was busy absorbing the UST de-peg it crashed by 100% and this has deeply impacted the entire ecosystem. Read.

While the investors were still trying to make their way through by buying LUNA at dirt cheap prices, many were concerned about this fatal crash and wondered if it will continue in the future to come. There were several reasons behind this crypto crash one of them being the inventorial behavior where the U.S policymakers have been tightening the money supply leading the investors to sell their crypto tokens. Read a detailed blog on the reasons behind this monetary crash. 

Friday saw a better phase for both Bitcoin and Ethereum. Although LUNA and UST barely managed to survive or let’s say succumb to De-pegging. While all this was happening with uproar and speculations in the market with many investors losing their millions of dollars, Do Kwon the founder of Terra ecosystem was busy planning his next move. Read about it in detail below. 

Crypto Markets May Be Primed for a Correction as Bitcoin is Plunging While NFTs Thrive

The Terra-UST incident does not appear to ease out so easily as LUNA price still possesses extreme volatility. On the other hand, BTC price is now falling below INR 23 lakh and hence the markets may correct during the Asian trading hours. However, popular NFT’s like Decentraland (MANA) surged more than 56% while Gala (GALA) 30.51%, but the leader reamined Victoria VR with 88.46% jump. However, STEPN(GMT) also surged by 9.21% and PancakeSwap(CAKE) by 4.98%

Weekly Price Change in Top Cryptos

Crypto Price Percentage Change
Bitcoin (BTC) ₹24,36,250.41 2.77%
Ethereum (ETH) ₹1,68,262.72 2.76%

*All prices are latest by 11:30AM, 14 May 2022.

Top Gainers and Losers Today

Top Crypto Gainers  

Crypto Price 7d Percentage Change
Maker (MKR) ₹1,20,311.50 11.51%
Binance USD (BUSD) ₹83.17 2.28%
USD Coin (USDC) ₹83.18 2.27%
Tether (USDT) ₹83.00 2.10%

*All prices are latest by 11:30AM, 14 May 2022.

Top 5 Crypto Losers 

Crypto Price 7d Percentage Change
Mirror Protocol (MIR) ₹22.76 73.59%
Spell Token (SPELL) ₹0.11 56.00%
Oasis Network (ROSE) ₹5.74 54.81%
Fantom (FTM) ₹26.53 52.92%
Nervos (CKB) ₹0.36 50.67%

*All prices are latest by 11:30AM, 14 May 2022.

Top Global Crypto News 

Top Global Metaverse & NFT News Today

Metaverse-as-a-service will be the basis of the next internet era of Web3

Although the concept of the Metaverse has been here for quite some time now it started to get into the limelight in recent years. What we are currently seeing are gamified worlds with limited engagement abilities and integration. It still has loads of scope for improvement for the early adopters and testers. Metaverse shall serve the purpose of bridging the gaps between the digital and physical worlds.

Source: Cointelegraph  

Top Global Crypto News today 

Breaking: Do Kwon proposes Terra revival, including token redistribution plan

The co-founder of Terraform Labs Do Kwon has proposed to preserve the Terra ecosystem after the historic de-pegging of its algorithmic stable coin , UST, and the resulting death spiral that brought LUNA to zero. 

Kwon said on Friday that the Terra community must reconstitute the chain and preserve the developer ecosystem. This came in as a response to the validator group who were discussing the possibility of bringing a fork to the Terra chain and shall compensate the LUNA and UST holders who were not willing to sell their holding during the last week’s collapse. 

The proposition of resetting the network ownership to 1 billion tokens was also made by Kwon. These tokens were proposed to be distributed among UST and LUNA holders as well as to the community pool to fund the development. 40% of the newly distributed tokens shall be given to the LUNA holders who held the asset before the de-pegging event. The other 40% shall go to the UST holders on a pro-rata basis at the time of the new network upgrade. 10% of it shall be given to LUNA holders just before the chain stops operations and the remaining 10% shall belong to the development pool. 

Source: Cointelegraph 

NEW COIN LISTING ON COINDCX 

New Coin Price 24hr % Change
Kava (KAVA) ₹175.95 5.41%
STEPN (GMT) ₹122.40 -8.50%
Storj (STORJ) ₹42.71 -0.55%
JasmyCoin (JASMY) ₹0.83 -13.29%

*All prices are latest by 11:30AM, 14 May 2022.

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