Terra Continues To Falter And Dips To $0.04, BTC Maintains $30K

Terra continues to falter and dipped below $0.04 while Bitcoin maintained the $30,000 price level so let's have a closer look at our latest altcoin news. UST continues to chart new lows as Terra continues to falter below $0.04 and BTC stands slightly over $30,000.

Timeline of Bitcoin, Terra-luna

Last week's crypto crash leads to $1.2 billion in BTC liquidations while Terra's LUNA went to zero so let's read more in today's latest altcoin news. Some bitcoin traders saw their accounts wiped out in the last week's correction and the derivatives traders lost over $1.2 billion in liquidations.

Do Kwon aims to fork LUNA's blockchain and make Terra Classic a part of the new strategy to save the network and ditch the UST stablecoin so let's read more today in our latest cryptocurrency news. Under the new plan proposed by Do Kwon, the new chain will be called Terra Classic and won't use

Bitcoin, the bellwether for the crypto market, took a beating this week by hitting a 52-week low, falling down to $25,402. This week's massive variations are directly linked to the troubles of TerraUSD(UST). Terra's UST stablecoin lost its peg with the U.S dollar, resulting in a crypto market crash, leaving an impact of billions of …

In a preliminary vote, the Terra community has opposed founder Do Kwon's proposed revival plan to fork the Terra chain into a new chain without the algorithmic stablecoin. Moreover, the Terra community believes burning will be the best option as suggested by Binance CEO Changpeng Zhao.

The recent drop in cryptocurrency prices has mirrored a stock market sell-off. The declines suggest that digital currencies may not be a trustworthy investment during economic uncertainty.

After breaking down below it on May 10, bitcoin (BTC) is currently attempting to reclaim the $30,500 horizontal area and potentially validate it as support once more. The post Bitcoin (BTC) Attempts to Find Support Above $30,000 appeared first on BeInCrypto.

According to an online poll, 90% of the community disagrees with Terraform Labs CEO Do Kwon's path forward. The post Terra community seems dead set against Do Kwon's fork proposal appeared first on The Block.

Despite the intense pressure from the Chinese government last year to crack down on cryptocurrency operations, especially mining, the country has again surfaced as one of the biggest Bitcoin mining jurisdictions of 2022.  The Cambridge Bitcoin Electricity Consumption Index (CBECI) provided by the Cambridge Centre for Alternative Finance (CCAF) shows that Chinese Bitcoin mining activities.

Investors were flummoxed by the sharp fall in Bitcoin's value and that of other cryptocurrencies this past week, leading the total crypto market capitalization to plummet to as low as $1.23 trillion on May 12, its lowest level since July 2021. Terra Luna's UST stablecoin, which was backed by both LUNA tokens and billions in The post Here's why Luna UST crash is not crypto's ‘Lehman Brothers' moment appeared first on Invezz.

Despite being banned in China, cryptocurrency is gaining attraction in the country as the value of some of the world's most prevailing digital currencies and Non-fungible tokens (NFTs) has increased.