Terra

Get Terra (LUNA) all time high price, historical charts, latest news and other information.

Are stablecoins in the sights of U.S. regulators?
The decline of Terra Luna and it’s UST (and correlating LUNA) token earlier this year brought along plenty of fanfare. It’s full damage and implications, however, have clearly yet to be established; a new draft of a U.S. House bill is proposing a two-year ban on stablecoins similar to Terra’s UST stablecoin.
UST depegged and caused major ripples throughout defi earlier this year. Let’s look at what the legislation could potentially bring to the market.
Stablecoins Under Scrutiny?
According to a report from Bloomberg, the House bill takes aim at stablecoins and would “mandate a study on Terra-like tokens from Treasury” along with a bevy of federal financial bodies, including the Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corp., and the SEC.
The final version of the bill has not been proposed and the bill, led by House members Maxine Waters and Patrick McHenry, is still working through draft iterations before it’s presentation to the House. However, it’s reported that the bill will also allow banks (and others) to issue stablecoins – so an outright ban does not seem to be in the cards for this legislation. Stablecoin issuers would need to seek approval from standard federal regulators, and a formalized process for non-bank entities that want to issue a stablecoin would be established.
The bill could be presented to vote on as early as the end of this month.

Despite challenges for major stablecoin issues, like Circle and their USDC stablecoin, there is still substantial growth taking place - as exhibited by Circle's USDC market cap dominance. | Source: USDC Market Cap Dominance on TradingView.com







State Of Stablecoins
While Terra’s downfall is often stated as the driver behind stablecoin scrutiny (and rightfully so), there is a long-standing history between crypto critics and stablecoins – including legacy stablecoin Tether (USDT). As we’ve covered in recent months, while critic’s eyes were already honing in on Tether’s reserve assets in recent years, Terra’s crumbling and the billions of dollars lost with it have given U.S. legislators extra ‘pep in their step’ in addressing crypto regulations around stablecoins.
Nonetheless, healthy regulation can spur growth – and that’s been the core of the argument for stablecoin issuers like Circle, who look to build relationships and lobby with current legislators, and even exchanges like Coinbase. Most U.S.-based firms would rather have a clear set of rules and guidelines to follow than worry about getting stuck in a loosely-defined ‘grey area.’ We’ll see how it shakes out.







Featured image from Pixabay, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.
This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.





Are stablecoins in the sights of U.S. regulators? The decline of Terra Luna and it&#8217;s UST (and correlating LUNA) token earlier this year brought along plenty of fanfare. It&#8217;s full damage and implications, however, have clearly yet to be established; a new draft of a U.S. House bill is ...

newsbtc.com

U.S. House Legislation Looks To Place Two-Year Ban On UST-Like Stablecoins


Terra Classic (LUNC) has regained its footing after decreasing sharply for nearly two weeks. On the other hand, Terra (LUNA) shows no signs of a bullish reversal and is trading inside a bearish pattern.



Terraform Labs’ stablecoin UST and cryptocurrency LUNA imploded in May, after a death spiral caused the price of LUNA to decrease by more than 99.99%. 



Since then, Do Kwon, the founder of Terraform Labs, has attempted to initiate a revival of the ecosystem with Terra 2.0. He has not taken any responsibility for the aforementioned crash.



Last week, South Korean authorities issued an arrest warrant for Do Kwon claiming that he is on the run. Do Kwon himself has denied these rumors, however he has failed so far to provide his location. 



South Korean prosecutors have refuted these claims, instead stating that Do Kwon is not cooperating with the authorities and has no intentions of appearing for questioning. As a result, they have asked the  foreign ministry to revoke his passport. 



LUNC bounces at support



LUNC has been falling since reaching a high of $0.00059 on Sept. 8. The high was made at a confluence of important Fib levels, created by the 4.2-4.618 extension of the original upward movement (red) and the 1.61 length of waves one and three (white). Therefore, it was expected to act as a significant local top. 



The ongoing downward movement has led to a low of $0.00024 on Sept. 15. The low and ensuing bounce served to validate the $0.00027 support, which is both a horizontal support area and the 0.618 Fib retracement support level. 



Additionally, the daily RSI has bounced at the 50 line (green icon). Therefore, if LUNC does not reach a daily close below this level, it is likely that it will initiate a significant bounce and potentially resume the upward movement that began on Aug. 15 (white). 



LUNC/BUSD Chart By TradingView


LUNA shows signs of weakness



LUNA has also decreased sharply since Sept. 9, falling by 66% so far. However, unlike LUNC, it is not showing any bullish signs. On the contrary, the price has created consecutive lower highs, a sign of weakness that supports the continuation of the downward movement. 



Moreover, the six-hour RSI is below 50, a bearish sign that indicates that a breakdown is likely. If LUNA falls below the current support of $2.60, the next closest support area would be at $1.60. 



LUNA/USDT Chart By TradingView


For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here
The post What’s Next for LUNA and LUNC Prices with Do Kwon on the Run? appeared first on BeInCrypto.


Terra Classic (LUNC) has regained its footing after decreasing sharply for nearly two weeks. On the other hand, Terra (LUNA) shows no signs of a bullish reversal and is trading inside a bearish pattern.
The post What’s Next for LUNA and LUNC Prices with Do Kwon on the Run? appeared first on BeInC...

beincrypto.com

What’s Next for LUNA and LUNC Prices with Do Kwon on the Run?

South Korean prosecutors investigating Terra (LUNA) founder Do Kwon have reportedly asked Interpol to place a red notice on the crypto entrepreneur as his whereabouts remain unknown.
According to a report from The Financial Times, prosecutors also said that they had asked Seoul’s foreign ministry to cancel Kwon’s passport as he was “obviously on the run and has no intention to appear before us for questioning”.

According to Interpol, a red notice is a request to worldwide law enforcement worldwide to “locate and provisionally arrest a person pending extradition, surrender or similar legal action.”
The prosecutors’ office reportedly said that they had already begun the procedure to place Kwon on Interpol’s red notice list and revoke his passport.
Over the weekend, Kwon denied that he was evading authorities, contrary to reports.
“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. 
We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”
In May, the Terra ecosystem imploded when its stablecoin UST, lost its peg. Both UST and LUNA went to essentially zero in a matter of days, causing roughly $40 billion in damages to investors.
Kwon has been accused by South Korean authorities of running a “Ponzi fraud,” namely with Terra-based decentralized finance platform Anchor Protocol, which was offering UST investors returns of approximately 20%.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox 

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/studiostoks
The post Prosecutors Ask Interpol To Put Red Notice on Terra Founder Do Kwon: Report appeared first on The Daily Hodl.


South Korean prosecutors investigating Terra (LUNA) founder Do Kwon have reportedly asked Interpol to place a red notice on the crypto entrepreneur as his whereabouts remain unknown. According to a report from The Financial Times, prosecutors also said that they had asked Seoul’s foreign ministry...

dailyhodl.com

Prosecutors Ask Interpol To Put Red Notice on Terra Founder Do Kwon: Report

The last week has been one filled with activity for the founders of the now-defunct Terra network. From arrest warrants to accusations of evasion, Do Kwon and others have been in the thick of it recently. In the most recent development, the South Korean authorities have come for the founder once more over his most recent statements.
Do Kwon Is On The Run
Last week, news circulated that the South Korean government had finally issued arrested warrants for Terra founder Do Kwon and others who were involved in the $60 billion crash. Authorities had also said before that they had been unable to locate the founder after he had left South Korea for Singapore due to Terra having a base there. Since then, the whereabouts of Do Kwon and his associates have been said to be unknown.

Kwon had responded to the accusations that he was trying to evade arrest by South Korean authorities. The Terra founder had taken to Twitter to assure the community that he was in no way “on the run” and that they were continuing to work with the South Korean authorities.

However, the South Korean responded to Do Kwon’s claims and said that they were not correct. In the report on Yonhap, a local media outlet in South Korea, on Sunday, the prosecutors explained that they were in no way working with the founder. Rather, he had been on the run since the network had first collapsed. The prosecutors also explained that it was due to Kwon’s refusal to work with the authorities that had been the reason behind the issuance of the arrest warrants for the founder and five others.
Terra (LUNA) Nosedives
The price of Terra (LUNA) had been feeling the heat from all of this over the last week. The impact had been prominent on both digital assets from the network, LUNC and LUNA. LUNC has, however, held up better compared to Terra (LUNA) during this time.
Terra (LUNA), the rebooted token after the Terra crash, has lost more than half of its total value in the span of 7 days alone. LUNC has fared much better in this regard, having lost 32.70% in the same time period. The disparity between the two tokens is also glaring.

Despite the Terra crash and LUCN losing more than 99% of its value in a matter of days, it continues to enjoy massive support from crypto investors. The token’s price has recovered significantly to be trading at $0.000272, giving it a market cap of $1.6 billion. With this, LUNC currently features in the 31st spot on the list of largest cryptocurrencies by market cap.
In the same vein, Terra’s (LUNA) price is currently trading at $2.57. With a total supply of a little over 127.47 million, the market cap of the cryptocurrency is $327.5 million. It is currently the 95th largest cryptocurrency by market cap, well behind its predecessor, LUNC.
Featured image from CryptoSlate, chart from TradingView.com
Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…


The last week has been one filled with activity for the founders of the now-defunct Terra network. From arrest warrants to accusations of evasion, Do Kwon and others have been in the thick of it recently. In the most recent development, the South Korean authorities have come for the founder once ...

bitcoinist.com

Prosecutors Counters Terra Founder Do Kwon’s Claims That He’s Not On The Run

Terra (LUNA) founder Do Kwon has denied that he is evading authorities despite statements from South Korean prosecutors claiming the contrary.
Bloomberg recently reported that warrants were issued to Kwon and five others who were charged with violations of South Korea’s capital markets law.

The embattled Terraform Labs founder tells his one million Twitter followers that he has no plans to hide from law enforcement agencies.
“I am not ‘on the run’ or anything similar – for any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide. 
We are in the process of defending ourselves in multiple jurisdictions – we have held ourselves to an extremely high bar of integrity, and look forward to clarifying the truth over the next few months.”
Local media outlet Yonhap News has reported that South Korean prosecutors say that Kwon is “obviously on the run.”
While South Korean authorities originally alleged that Kwon and others were in Singapore, a new report from Reuters says that the crypto entrepreneur is no longer in the country, leaving his whereabouts unknown at time of writing.
The Terra ecosystem collapsed in May this year when TerraUSD (UST), the project’s stablecoin, lost its dollar peg and spiraled down to essentially zero. The situation caused approximately $40 billion in damages to investors.
Kwon has been accused by South Korean authorities of running a “Ponzi fraud,” namely with Terra-based decentralized finance platform Anchor Protocol, which offered investors of UST returns of approximately 20%.
Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox 

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix



Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/HstrongART
The post Terra (LUNA) Founder Do Kwon Denies He’s on the Run After South Korean Authorities Issue Arrest Warrant appeared first on The Daily Hodl.


Terra (LUNA) founder Do Kwon has denied that he is evading authorities despite statements from South Korean prosecutors claiming the contrary. Bloomberg recently reported that warrants were issued to Kwon and five others who were charged with violations of South Korea&#8217;s capital markets law....

Terra price	$2.12
Low - High 24H	$2.12 - $2.47
Market cap	$348.69M
Volume 24H	$134.16M
All time high	$18.87 -88.75% May 28th 2022
All time low	$1.53 38.58% August 29th 2022
Genesis date	N/A

Recently viewed

Trending

Terra (LUNA)

Performance

Terra News

Quick stats