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Price drop of 68% after Terra Luna 2.0 launch

LUNA 2.0 is live and trading with no issues. The first block of the new chain with the ID Phoenix-1 was produced officially at 6 AM UTC on May 28th, 2022, which marks the birth of the new protocol.

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LUNA 2.0 is live and trading with no issues. The first block of the new chain with the ID Phoenix-1 was produced officially at 6 AM UTC on May 28th, 2022, which marks the birth of the new protocol.

It’s worth noting that LUNA is on a new chain and not on a fork, which means that any dApps on the old chain will need to be relaunched on the new protocol.

Eligible users have received their Airdrop and can trade 30% of their balance right away. The rest of the tokens are vested over two years, with the first batch unlocking in six months. In addition, users can stake their Airdropped LUNA tokens to earn rewards. The staking rewards can be claimed at any time and traded with no restrictions.

As predicted in our previous Terra Luna 2.0 article, Terra Luna will initially drop right away as users dump their Airdropped tokens to attempt to recoup some of their losses.

With the 70% price drop, LUNA 2.0 is still trading at relatively high levels, currently priced at $5.76. LUNA manages to hold above the $1 billion market cap, presently valued at $1.2 billion. LUNA might continue to decline in price as the current market activity is still relatively low, with a 24-hour trading volume of $93 million. As more users wake up and start dumping their Airdrop, the market will most likely continue to dip before attempting to rebound.

In addition, Luna Classic is also showing significant bearish momentum, dropping by over 26% in the past 24 hours, currently trading at $0.0001004 with a market capitalization of $656 million.

Moreover, Terra Classic USD  is also losing value, currently trading at $0.01889, down over 47% in the past 24 hours, with a market capitalization of $212 million. USTC will likely continue to fall throughout the next couple of weeks as the new LUNA token is on a new chain without the stablecoin.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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