Terra Temporarily Halts Blockchain As LUNA Hyperinflates and Implodes 99% in One Day

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.

Timeline of Terra-luna

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

Crypto markets bleed red as Terra continues to drop hard as circulation rises Terraform labs attempt to stabalize the UST at the earliest, but else LUNA price may keep plunging hard However, there is some hope for the traders as the LUNA price may not be certainly dead But instead of a steep recovery, an …

Following the Analytic report by Terra, the South-Korean cryptocurrency, LUNA market value has dropped to about $0.02, 18 billion coins were surpassed, and 15 billion more LUNAs emerged today; Meanwhile, UST supply is currently at 12 billion. This data was updated on the 12th of May.

Terra, the creator of the algorithmic stablecoin TerraUSD (UST) and LUNA, has halted the Terra blockchain. In a Tweet, Terra.Money stated: The Terra blockchain was officially halted at a block height of 7603700.

The Terra blockchain has been halted to protect against a possible attack, according to a statement by Terraform Labs. The post Terra blockchain halted to protect against possible attack appeared first on The Block.

A joint body tasked with coordinating crypto regulation globally is sorely needed and could become a reality within the next year, according to Ashley Alder, chair of the International Organization of Securities Commissions (IOSCO), an association of market regulators.

Digital currency markets have continued to slide downward in value as the crypto economy has dropped by 14% during the past 24 hours. Amid the market rout, the native Terra blockchain token LUNA has dropped to fresh new lows, slipping to $0.0156 per unit. Terra's founder Do Kwon revealed a plan on Wednesday, but after

Tether (USDT) has become the next stablecoin to suffer from the ongoing stablecoin fiasco that started with TerraUST de-pegging from the US Dollar. USDT traders were treated to a scare after the price of USDT lost its dollar parity and slid below $1 to trade as low as $0.97 before recovering to trade above $0.99 The post Tether (USDT) losses dollar peg after the recent stablecoin drama with Terra's UST appeared first on Invezz.