Terra’s LUNA2 skyrockets 70% in nine days despite persistent sell-off risks

The price of Terra (LUNA2) has recovered sharply nine days after falling to its historic lows of $1.62.  On June 27, LUNA2’s rate reached $2.77 per token, thus chalking up a 70% recovery when measured from the said low. Still, the token traded 77.35% lower than its record high of $12.24, set on May 30. LUNA2’s recovery mirrored similar retracement moves elsewhere in the crypto industry with top crypto assets Bitcoin (BTC) and Ether (ETH) rising by approximately 25% and 45% in the same period. LUNA2/USD four-hour price chart versus…

Solana to Launch New WEB3 Mobile Phone Project

Solana has announced the launch of its new Saga mobile phone that it is developing in collaboration with Osom. This was revealed on June 23 in an announcement made in New York City. The phone is a modified version of the Osom OV1 that was developed by a team of former engineers at Essential. Solana has already started the process of booking preorders for the new device, which is listed at $1000.  Shipping for the new phone is expected to start in the first quarter of 2023. To preorder the…

Tether Launches Stablecoin Pegged to the British Pound Sterling – Altcoins Bitcoin News

Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Author: Jamie Redman Source link

China’s WeChat bans crypto and NFT-related accounts

The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services.  Under the new guidelines, accounts involved with the issuance, trading, and financing of crypto and NFTs will be either restricted or banned and will fall under the “illegal business” category. The policy also covers secondary NFT trading, with the firm noting that “accounts that provide services or content related to the secondary transaction of digital collections shall also be dealt with in accordance with this article.” The…

Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout – Altcoins Bitcoin News

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to a low of $0.914 per unit. The Abracadabra-issued stablecoin dropping in value follows the recent terrausd (UST) failure and USDD’s recent volatility last week. Stablecoin Magic Internet Money Loses $1 Parity But Regains Strength After the Fall to $0.91 In mid-May 2022, the entire world witnessed an algorithmic stablecoin called terrausd (UST) depeg from its $1 parity and slide below…

Things to Know About Axie Infinity

 Axie Infinity is a decentralized game and digital collectibles platform built on the Ethereum Blockchain. It allows players to breed, buy, sell, and train Axie creatures. The game revolves around trading and collecting digital creatures called Axies. Each creature has unique attributes such as size, color, markings, and more. These attributes are called “traits,” They can be passed down to offspring when two parents breed together. The offspring will then have traits from both parents (and possibly other traits inherited from other ancestors). Players can make money by selling their…

Coinbase is facing class action suits over unstable stablecoins GYEN, TerraUSD

A class-action suit was filed against Coinbase on Thursday claiming the trading platform was negligent in its listing of the TerraUSD stablecoin and alleging that it failed to disclose its financial relationship with Terraform Labs. This is the second class-action suit outstanding against Coinbase. A suit was filed last month in connection with the depegging of GYEN in November.  Thursday’s suit alleges Coinbase was negligent for failing to conduct due diligence of Terraform Labs before it listed TerraUSD and misrepresenting TerraUSD’s risk as an algorithmic stablecoin. The suit compares the…

What Analysts Are Saying After Crypto Lender Celsius Paused Withdrawals; BTC Drops Below $23K

Bitcoin was recently trading at about $22,500, down more than 16% over the past day. As for major altcoins, the question wasn’t whether they were in the red but by how much. Ether, the second largest crypto by market cap, was changing hands at roughly $1,200, off over 17% during the same period and its lowest level since January 2021. CRO was off more than 20% at one point amid news that the crypto exchange would pare about 5% of its workforce, roughly 260 jobs. Wrapped bitcoin (WBTC) and TRX…

Hodler’s Digest, May 29-June 4

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week     Anonymous hacker served with restraining order via NFT In what’s perhaps an industry first, an anonymous defendant in an exchange-hacking legal case has received a temporary restraining order via NFT. The defendant is part of legal proceedings surrounding the January 2022 LCX exchange…