Terra says it has halted blockchain for second time in 24 hours

With its native token LUNA and stablecoin UST in freefall, Terra has halted its blockchain for the second time in quick succession. The post Terra says it has halted blockchain for second time in 24 hours appeared first on The Block.

Timeline of Terra-luna

Janet Yellen, recently speaking at American University, made erudite, sensible remarks about the right approach to regulate digital currencies and assets, innovation and the policies surrounding them.

Terra (Luna) fell at 99.6% after reaching its all-time high of about $120 last month.The terra  price has now dropped to 0.005.Crypto exchanges have started taking steps in response to the fall of Luna. The trillion-dollar crypto market is struggling! Post the dramatic fall of Terra (Luna), a popular cryptocurrency, from more than $400 billion …

The circulating supply of Luna has risen dramatically while the price of the Terra native asset has plunged. The post Luna token price craters below $0.0001 as circulating supply soars above 400 billion appeared first on The Block.

Terra TVL crashed more than $14 billion in May 2022. Terra TVL was around $18.45 billion in January and $4.02 billion in May, 78% drop in TVL The post Terra TVL Reaches 2022 Low; Crashes More Than $14 Billion appeared first on BeInCrypto.

During the recent death spiral of UST and LUNA, many tried to send their tokens to their Coinbase wallets, and they ended up losing them altogether.  The problem emerged from the main Terra bridge's tendency to transfer wormhole LUNA and UST automatically.

On Thursday, Terra Chain resumed operations after a two-hour delay on its block production, as part of its emergency action plan. The post Terra Chain Resumes Operation After 2-Hour Pause; TFL to Release More ‘Emergency Action' Updates  appeared first on BeInCrypto.

Terra temporarily halted its blockchain as its native asset LUNA suffered through extreme hyperinflation and price collapse. The embattled algorithmic stablecoin protocol halted the blockchain on Thursday in order to prevent governance attacks because LUNA's inflation significantly reduced the cost of an exploit. Terra resumed block production around 11 a.m. PT. LUNA's circulating supply skyrocketed The post Terra Temporarily Halts Blockchain As LUNA Hyperinflates and Implodes 99% in One Day appeared first on The Daily Hodl.

Quick Take In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding The Terra protocol has undergone a collapse of epic proportions with the depegging of Terra USD (UST) from the U.S. dollar and a dramatic decline in the price of LUNA This week, we take a look at the fall of one of the most prominent L1 protocols in crypto and the impact to its ecosystem thus far 

WallStreetBets, the Reddit community which took the financial world by storm when they pumped GameStop up to the stratosphere in January 2021, alongside other meme-stocks such as AMC, may have a new target. The community have turned their attention to Luna, the cryptocurrency which at one point was worth $42 billion, trading at $119 per The post WallStreetBets to pump LUNA? appeared first on Invezz.

At 12:14 p.m. (ET), the Twitter account operated by the Terra team announced that the Terra blockchain network had been halted. According to the Terra developers' tweet, Terra validators needed to apply a patch to further disable delegations. Terra Blockchain Halts in Order to Prevent Governance Attacks, Team Says Restart Coming Soon At the time