The circulating supply of LUNA token has increased from 300 million to nearly seven trillion in less than two weeks. In the meantime, a special team is being formed to shed light on the behind the scenes of the event. Here are the details…
With supply reaching 7 billion, can LUNA still be $1?
TerraForm Labs announces its plans to integrate Terra investors as more investors continue to roll out LUNA. TerraUSD (UST) lost its price stability, and Terra crashed to $0.0000009 over the dollar in a short time. People no longer believe that both cryptocurrencies can reach $1 again. The biggest LUNA whale, ‘The Moon’, asks a simple question…
$LUNA supply is so close to 7 trillion.
Is $1 a pipe dream for $LUNA and $UST?
— The Moon | Carl (@TheMoonCarl) May 19, 2022
“The Moon“, one of the largest Terra whales, said in the above tweet:
Terra supply is very close to 7 trillion. $1 for LUNA and UST is just a pipe dream?
Based on the circulating number of Terra, a market valuation of around $7 trillion is required for Terra price to hit $1, an impossible task considering the entire crypto market is less than $1.5. However, the Terra team is trying to make up for some of the losses, even if it’s not $1.
New Blockchain released for LUNA and UST
As part of efforts to integrate Terra investors after major losses last week, TerraForm Labs has hard forked a new chain. announced that it has launched a new proposal that will determine that it will not leave. Terra proposal
https://twitter.com/stablekwon/status/152689678668583360
1623 was released today and the Terra team will push forward. will be the main determinant of the next step. It is worth noting that the proposal is backed by a number of validators and developers, who cite support for continuing to work on the network after a new Blockchain is born. As a result, the existing network LUNA Classic (LUNC) will be released with a new Terra Blockchain hard fork called the new network LUNA (LUNA).
3/ This proposal has broad support of Terra builders – @scv_security @ProtocolTalis @prism_protocol @NexusProtocol @knowhere_art @tns_money @leap__terra @staderlabs @setten_io
@realTerranOne @coinhall_org @randomearth_io @PhoenixFinan@ape_board @flipsidecrypto— Do Kwon 🌕 (@stablekwon) May 18, 2022
South Korea to investigate Terra’s IHR collapse assembles a special team
Korean authorities believe that Terra’s collapse was not properly investigated and so Terra enacted a tactical crime unit to ensure that no stone is turned in ecosystem collapse. As Kriptokoin.com we have covered the details in this article.
According to local media SBS News, the Korean special crimes unit dubbed the “Yeouido Grim Reaper” will investigate the circumstances that led to the collapse of Terra, which Korean authorities believe were not properly investigated. . Part of the focus of the investigation will focus on the method Terra uses to attract people to invest in ecosystem coins. Meanwhile, Terra founder Do kwon is invited to the assembly to tell the story behind the scenes.
