Do Kwon proposes new governance protocol to save Terra blockchain
Do Kwon, co-founder of Terra Luna cryptocurrency, unveiled a revised plan to repair the blockchain ecosystem following considerable market volatility and inherent protocol design problems that wiped out the blockchain’s market cap. Terraform Labs will propose a new governance concept for the Terra Luna blockchain on May 18, according to Kwon (token name: LUNA). The […]
Here’s Why Shiba Inu (SHIB) Holders Surge Despite Market Crash
During the recent crypto crisis, the number of companies owning popular memecoin Shiba Inu (SHIB) reached new highs, as prices fell to favorable levels. However, the token’s whale holders dropped dramatically, indicating that the largest crypto investors are losing faith in the memecoin. SHIB increased by 16,482 holders The total market valuation of meme tokens […]
Avalanche (AVAX) Drops 5% In Minutes Amid Terra Dump Concerns
On Monday, Avalanche (AVAX) plummeted as traders thought the Luna Foundation Guard (LFG) would sell its token holdings. AVAX is currently trading at $32.41, down 6% in the last 24 hours. The token’s losses occurred shortly after the Luna Foundation Guard announced that it would spend its remaining reserves to compensate UST holders. This could […]
Ethereum’s Founder Asks Terra To Target These Holders During Bailout
On Sunday, Ethereum founder Vitalik Buterin stated that any efforts by Terra to compensate its holders should be directed on the most vulnerable. Buterin requested in a tweet that Terra’s developers focus their recovery efforts on UST holders who were not whales, but rather smaller, retail investors. The ETH founder’s remarks were in response to […]
Terra Projects Gets Aid From Polygon Network
Following the heavy collapse of the Terra network, the Polygon team has stepped in to migrate Terra projects to its blockchain. Terra’s recent collapse has shaken the entire crypto market. Industry players are stepping forward to assist the community in any way they can. On Sunday, May 15, Ryan Wyatt, CEO of Polygon Studios, announced […]