Monday, March 27, 2023
  • Login
EthozEdge
No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
Cryptocurrency Marketcap
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0
No Result
View All Result
EthozEdge
No Result
View All Result
Home Crypto News Altcoin News

Luna Foundation Guard Prepares $1,500,000,000 in Bitcoin (BTC) and TerraUSD (UST) To Protect Stablecoin Peg

by ethozedge
May 10, 2022
in Altcoin News
Reading Time: 3 mins read
A A
0
Share on FacebookShare on Twitter


As TerraUSD (UST) plummets in value, the Luna Foundation Guard says it’s preparing $1.5 billion in Bitcoin and UST to address market concerns about the stablecoin.

UST, a stablecoin designed to be pegged to the US dollar (USD), is trading for $0.75 at time of writing, down more than 24% in the past day.

Though designed to keep an equal value to the USD, UST first fell below $1.00 on Saturday before collapsing on Monday.

The LFG, a non-profit organization built to support the Terra (LUNA) ecosystem, says it will “proactively defend the stability of the UST peg and broader Terra economy.”

“As a result, the LFG Council has voted to execute the following:

– Loan $750 million worth of BTC to OTC [over-the-counter] trading firms to help protect the UST peg.

– Loan $750 million UST to accumulate BTC as market conditions normalize.

The traders will trade the capital on both sides of the market to help accomplish both #1 and #2, eventually maintaining parity of the LFG Reserve pool (denominated in BTC) as market conditions progressively stabilize.”

Terraform Labs CEO Do Kwon announced a plan back in mid-March to accumulate $10 billion worth of Bitcoin reserves as part of an effort to back TerraUSD. The LFG purchased more than $1.6 billion worth of BTC, but it has completely emptied that wallet in the past day, according to BitInfoCharts.

Kwon maintains, however, that the LFG “is not trying to exit its Bitcoin position.”

“The goal is to have this capital in the hands of a professional market maker such that:

1) Buy UST if price < peg
2) Buy BTC if price >= peg

Thus significantly strengthening the liquidity around UST peg.

While buys and sells of UST are not meaningfully directional now, we felt it was valuable to have capital ready to be deployed in the current market.

As markets recover, we plan to have the loan redeemed to us in BTC, increasing the size of our total reserves.”

Check Price Action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

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/freestyle images





Source link

Tags: Bitcoinbitcoin newsBTCcrypto analysiscrypto newsEthoz EdgeFoundationGuardLatest bitcoin newslatest crypto newsLUNAPegpreparesProtectstablecoinTerraUSDUST
Share76Tweet47

Related Posts

XRP Price: All Eyes are on the Supreme Court Amid the SEC vs Ripple Case

by ethozedge
March 27, 2023
0

XRP price has recorded substantial gains in the past week, jumping more than 20% over the period. The altcoin has...

Market Outlook #213 – An Altcoin Trader’s Blog

by ethozedge
March 26, 2023
0

You must be logged in to view this content. You can register for access to the Premium Content via the sign-up form...

Analyst Benjamin Cowen Issues Altcoin Warning, Says Regulatory Uncertainty Means Bitcoin Steals the Show

by ethozedge
March 26, 2023
0

A widely followed crypto analyst is issuing a warning to altcoin investors, saying that regulatory uncertainty means that Bitcoin (BTC)...

Long-Term Holders Are Moving Away From One Ethereum DeFi Altcoin, Says Analytics Firm Santiment

by ethozedge
March 26, 2023
0

Long-term holders of one Ethereum (ETH)-based decentralized finance (DeFi) altcoin are taking a step back from their investments, according to crypto...

Polkadot, Kusama and Cardano Leading Crypto Space in Terms of ‘Notable GitHub Activity’: Santiment

by ethozedge
March 25, 2023
0

Polkadot (DOT), Kusama (KSM) and Cardano (ADA) are leading the crypto space in terms of “notable” GitHub development activity, according...

Load More
  • Trending
  • Comments
  • Latest

🔴 Bank of America Bets on Crypto

April 11, 2022

Pomelo Launches Family Credit Cards to Combine Credit and International Money Transfer

August 16, 2022

How to Add Polygon (MATIC) to Your MetaMask Wallet

May 28, 2022

The Sandbox Price Prediction 2022-2030: HODL or DUMP?

May 25, 2022

Successful Beta Service launch of SOMESING, ‘My Hand-Carry Studio Karaoke App’

0

At least 54 apes were stolen in BAYC Instagram hack

0

Binance Introduces New Crypto Card for Ukrainian Refugees

0

55,000 Meta Cricket League NFTs sell out in nine minutes

0

What are Binance and CZ Being Accused Of? A Closer Look at the CFTC Filing

March 27, 2023

Binance CEO Accused Of Violating US Derivatives Rules

March 27, 2023

First Republic (FRC) Shares Jump 15% as Regional Bank Stock Rebounds

March 27, 2023

Steve McQueen’s Grenfell Tower film—dedicated to the victims of the tragic fire in 2017—to debut in London

March 27, 2023
Facebook Twitter LinkedIn Tumblr RSS
EthozEdge

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at EthozEdge

CATEGORIES

  • Altcoin News
  • Avalanche Network
  • Binance Smart Chain
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Mining
  • Crypto Regulation News
  • DeFi
  • Ethereum
  • EVM News
  • Fantom Opera Chain
  • Harmony Chain
  • Huobi Eco Chain
  • Metaverse
  • NFT
  • Polygon Chain
  • Scam News
  • Web 3.0
  • XDai Chain

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • ETHO News
  • EVM News
    • Avalanche Network
    • Ethereum
    • Fantom Opera Chain
    • Harmony Chain
    • Huobi Eco Chain
    • Polygon Chain
  • Crypto News
    • Altcoin News
    • Bitcoin
    • Blockchain
    • Crypto Exchanges
    • Crypto Mining
    • Crypto Regulation News
    • DeFi
    • NFT
    • Metaverse
    • Scam News
    • Web 3.0

Copyright © 2022 - EthozEdge.
EthozEdge The Crypto is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • JDBJDB(JDB)$0.021575-0.61%
  • bitcoinBitcoin(BTC)$27,050.00-2.93%
  • ethereumEthereum(ETH)$1,708.86-3.14%
  • USDEXUSDEX(USDEX)$1.07-0.47%
  • tetherTether(USDT)$1.00-0.02%
  • binancecoinBNB(BNB)$307.28-6.28%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • rippleXRP(XRP)$0.4744636.31%
  • cardanoCardano(ADA)$0.342559-3.09%
  • dogecoinDogecoin(DOGE)$0.072813-1.63%
  • staked-etherLido Staked Ether(STETH)$1,748.78-0.72%
  • matic-networkPolygon(MATIC)$1.03-5.95%
  • binance-usdBinance USD(BUSD)$1.000.22%
  • solanaSolana(SOL)$19.72-5.64%
  • polkadotPolkadot(DOT)$5.82-3.16%
  • litecoinLitecoin(LTC)$88.79-4.50%
  • shiba-inuShiba Inu(SHIB)$0.000010-2.40%
  • tronTRON(TRX)$0.063571-1.02%
  • avalanche-2Avalanche(AVAX)$16.41-3.75%
  • daiDai(DAI)$1.00-0.07%
  • uniswapUniswap(UNI)$5.59-2.73%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,072.00-2.84%
  • chainlinkChainlink(LINK)$6.81-5.46%
  • cosmosCosmos Hub(ATOM)$10.82-3.75%
  • leo-tokenLEO Token(LEO)$3.38-2.25%
  • ToncoinToncoin(TON)$2.10-0.36%
  • moneroMonero(XMR)$156.05-3.56%
  • ethereum-classicEthereum Classic(ETC)$19.50-4.11%
  • okbOKB(OKB)$41.980.22%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • stellarStellar(XLM)$0.091455-0.66%
  • bitcoin-cashBitcoin Cash(BCH)$118.78-4.41%
  • filecoinFilecoin(FIL)$5.27-6.02%
  • true-usdTrueUSD(TUSD)$1.00-0.12%
  • AptosAptos(APT)$11.00-6.95%
  • lido-daoLido DAO(LDO)$2.06-3.52%
  • hedera-hashgraphHedera(HBAR)$0.058289-5.87%
  • quant-networkQuant(QNT)$117.51-3.79%
  • crypto-com-chainCronos(CRO)$0.066432-4.16%
  • nearNEAR Protocol(NEAR)$1.83-5.92%
  • vechainVeChain(VET)$0.021830-4.31%
  • ArbitrumArbitrum(ARB)$1.14-10.02%
  • apecoinApeCoin(APE)$3.90-5.30%
  • algorandAlgorand(ALGO)$0.198352-5.65%
  • internet-computerInternet Computer(ICP)$4.71-4.91%
  • blockstackStacks(STX)$0.91-7.66%
  • eosEOS(EOS)$1.08-4.43%
  • the-graphThe Graph(GRT)$0.131628-6.37%
  • fantomFantom(FTM)$0.409901-7.74%
  • the-sandboxThe Sandbox(SAND)$0.59-7.14%
  • fraxFrax(FRAX)$1.00-0.12%
  • elrond-erd-2MultiversX(EGLD)$41.03-3.33%
  • decentralandDecentraland(MANA)$0.56-3.58%
  • aaveAave(AAVE)$69.47-4.57%
  • tezosTezos(XTZ)$1.07-5.75%
  • theta-tokenTheta Network(THETA)$0.96-5.10%
  • flowFlow(FLOW)$0.91-6.29%
  • immutable-xImmutableX(IMX)$1.01-8.92%
  • axie-infinityAxie Infinity(AXS)$7.93-5.57%
  • neoNEO(NEO)$12.09-0.88%
  • kucoin-sharesKuCoin(KCS)$8.24-5.09%
  • rocket-poolRocket Pool(RPL)$39.88-4.06%
  • paxos-standardPax Dollar(USDP)$1.00-0.08%
  • BitDAOBitDAO(BIT)$0.52-1.59%
  • havvenSynthetix Network(SNX)$2.35-3.41%
  • WhiteBIT TokenWhiteBIT Token(WBT)$5.00-0.56%
  • usddUSDD(USDD)$0.99-0.25%
  • terra-lunaTerra Luna Classic(LUNC)$0.000120-4.26%
  • gatechain-tokenGate(GT)$4.84-4.88%
  • klay-tokenKlaytn(KLAY)$0.221601-3.77%
  • curve-dao-tokenCurve DAO(CRV)$0.88-4.62%
  • bitcoin-cash-svBitcoin SV(BSV)$35.13-3.94%
  • conflux-tokenConflux(CFX)$0.315481-8.10%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.55-5.07%
  • sapphireSapphire(SAPP)$0.7035.32%
  • optimismOptimism(OP)$2.04-9.53%
  • dashDash(DASH)$55.87-5.01%
  • mina-protocolMina Protocol(MINA)$0.72-10.93%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • gmxGMX(GMX)$71.834.09%
  • chilizChiliz(CHZ)$0.113053-6.07%
  • makerMaker(MKR)$660.56-1.97%
  • bittorrentBitTorrent(BTT)$0.000001-1.91%
  • huobi-tokenHuobi(HT)$3.58-2.66%
  • ecasheCash(XEC)$0.000029-4.31%
  • iotaIOTA(MIOTA)$0.199202-5.04%
  • Bitget TokenBitget Token(BGB)$0.389859-2.94%
  • xdce-crowd-saleXDC Network(XDC)$0.039505-0.97%
  • frax-shareFrax Share(FXS)$7.44-5.16%
  • EdgecoinEdgecoin(EDGT)$1.00-0.18%
  • compound-ethercETH(CETH)$34.36-3.37%
  • pax-goldPAX Gold(PAXG)$1,974.03-1.02%
  • tether-goldTether Gold(XAUT)$1,966.09-0.73%
  • Tokenize XchangeTokenize Xchange(TKX)$6.02-4.30%
  • singularitynetSingularityNET(AGIX)$0.396693-10.19%
  • binaryxBinaryX(BNX)$165.94-5.94%
  • trust-wallet-tokenTrust Wallet(TWT)$1.10-7.48%
  • compound-usd-coincUSDC(CUSDC)$0.0228260.02%
  • Halo CoinHalo Coin(HALO)$0.057352-0.04%
  • mask-networkMask Network(MASK)$5.71-4.11%
  • osmosisOsmosis(OSMO)$0.77-3.37%
  • loopringLoopring(LRC)$0.337333-4.99%
  • zilliqaZilliqa(ZIL)$0.025638-6.00%
  • FlareFlare(FLR)$0.033664-5.64%
  • render-tokenRender(RNDR)$1.14-5.49%
  • 1inch1inch(1INCH)$0.487169-4.73%
  • radixRadix(XRD)$0.040113-6.04%
  • nexoNEXO(NEXO)$0.72-4.57%
  • cdaicDAI(CDAI)$0.0222150.02%
  • thorchainTHORChain(RUNE)$1.33-5.13%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,826.54-3.16%
  • gemini-dollarGemini Dollar(GUSD)$1.000.59%
  • oec-tokenOKC Token(OKT)$21.92-1.63%
  • arweaveArweave(AR)$7.74-5.73%
  • kavaKava(KAVA)$0.85-1.57%
  • KaspaKaspa(KAS)$0.02161018.67%
  • btse-tokenBTSE Token(BTSE)$2.33-1.15%
  • zcashZcash(ZEC)$35.73-0.68%
  • convex-financeConvex Finance(CVX)$4.93-3.45%
  • casper-networkCasper Network(CSPR)$0.034225-2.76%
  • dydxdYdX(DYDX)$2.382.47%
  • enjincoinEnjin Coin(ENJ)$0.365894-5.83%
  • DeFiChainDeFiChain(DFI)$0.53-3.53%
  • fetch-aiFetch.ai(FET)$0.343393-7.84%
  • DogechainDogechain(DC)$0.001787-24.98%
  • EthereumPoWEthereumPoW(ETHW)$3.29-2.18%
  • basic-attention-tokenBasic Attention(BAT)$0.234688-5.78%
  • WEMIXWEMIX(WEMIX)$1.39-0.03%
  • baby-doge-coinBaby Doge Coin(BABYDOGE)$0.000000-1.23%
  • nemNEM(XEM)$0.037178-5.08%
  • ethereum-name-serviceEthereum Name Service(ENS)$12.58-4.85%
  • FLOKIFLOKI(FLOKI)$0.000033-8.54%
  • Nexus MutualNexus Mutual(NXM)$47.58-3.88%
  • Aleph ZeroAleph Zero(AZERO)$1.41-5.44%
  • qtumQtum(QTUM)$2.97-4.19%
  • holotokenHolo(HOT)$0.001729-5.17%
  • BeldexBeldex(BDX)$0.058378-5.66%
  • terra-luna-2Terra(LUNA)$1.25-4.79%
  • theta-fuelTheta Fuel(TFUEL)$0.049635-6.06%
  • woo-networkWOO Network(WOO)$0.179700-6.75%
  • injective-protocolInjective(INJ)$3.76-5.27%
  • decredDecred(DCR)$20.02-5.74%
  • ravencoinRavencoin(RVN)$0.024095-6.88%
  • Gains FarmGains Farm(GFARM2)$7,930.530.00%
  • olympusOlympus(OHM)$10.21-0.62%
  • kusamaKusama(KSM)$31.44-5.85%
  • galaGALA(GALA)$0.037143-6.69%
  • celoCelo(CELO)$0.57-6.08%
  • compound-governance-tokenCompound(COMP)$40.50-4.28%
  • safemoonSafeMoon [OLD](SAFEMOON)$0.000000-6.10%
  • flex-coinFLEX Coin(FLEX)$2.849.40%
  • MagicMagic(MAGIC)$1.30-9.84%
  • gnosisGnosis(GNO)$105.07-2.50%
  • bitcoin-goldBitcoin Gold(BTG)$15.48-5.28%
  • liquity-usdLiquity USD(LUSD)$1.020.38%
  • oasis-networkOasis Network(ROSE)$0.053114-6.33%
  • linkLINK(LN)$40.13-3.08%
  • yearn-financeyearn.finance(YFI)$8,039.44-3.87%
  • AstarAstar(ASTR)$0.059667-2.73%
  • audiusAudius(AUDIO)$0.260462-4.86%
  • balancerBalancer(BAL)$6.45-4.65%
  • chiaChia(XCH)$37.17-3.44%
  • nucypherNuCypher(NU)$0.195773-4.98%
  • IdeaChainIdeaChain(ICH)$4.730.00%
  • Access ProtocolAccess Protocol(ACS)$0.008582-5.38%
  • ftx-tokenFTX(FTT)$1.89-21.52%
  • SSV NetworkSSV Network(SSV)$35.32-5.98%
  • Crypto Gladiator LeagueCrypto Gladiator League(CGL)$0.16194440.57%
  • ankrAnkr Network(ANKR)$0.030610-5.52%
  • Bone ShibaSwapBone ShibaSwap(BONE)$1.07-3.80%
  • huobi-btcHuobi BTC(HBTC)$26,957.00-3.04%
  • omisegoOMG Network(OMG)$1.72-5.68%
  • DAO MakerDAO Maker(DAO)$1.590.27%
  • Manchester City Fan TokenManchester City Fan Token(CITY)$11.87-1.78%
  • harmonyHarmony(ONE)$0.018894-7.62%
  • stepnSTEPN(GMT)$0.367520-5.75%
  • world-mobile-tokenWorld Mobile Token(WMT)$0.2920233.33%
  • AstraferAstrafer(ASTRAFER)$1.47-4.18%
  • escoin-tokenEscoin(ELG)$2.81-0.98%
  • convex-crvConvex CRV(CVXCRV)$0.78-3.34%
  • iotexIoTeX(IOTX)$0.024095-2.49%
  • golemGolem(GLM)$0.226679-5.58%
  • Meerkat SharesMeerkat Shares(MSHARE)$11,715.17-5.03%
  • tether-eurtEuro Tether(EURT)$1.080.34%
  • justJUST(JST)$0.024898-3.60%
  • Staked LunaStaked Luna(STLUNA)$88.35-0.49%
  • moonbeamMoonbeam(GLMR)$0.359177-4.56%
  • bloxBlox(CDT)$0.322077-2.25%
  • ecomiECOMI(OMI)$0.000794-1.31%
  • Frax EtherFrax Ether(FRXETH)$1,707.34-2.97%
  • BlurBlur(BLUR)$0.51-4.75%
  • Gains NetworkGains Network(GNS)$6.87-5.27%
  • terrausdTerraClassicUSD(USTC)$0.021024-5.23%
  • jasmycoinJasmyCoin(JASMY)$0.004330-6.32%
  • Ankr Staked ETHAnkr Staked ETH(ANKRETH)$1,925.73-2.13%
  • kadenaKadena(KDA)$0.91-3.60%
  • perpetual-protocolPerpetual Protocol(PERP)$2.92-2.77%
  • wavesWaves(WAVES)$2.03-5.49%
  • amp-tokenAmp(AMP)$0.003615-4.52%
  • band-protocolBand Protocol(BAND)$1.62-7.36%