What’s New in the Upgrade?: The Terra v2.5 upgrade is not just any regular update. It marks the integration of the Cosmos SDK 47, which not only supports ABCI 1.0 but also officially introduces the CosmWasm module. Additionally, the Protocol-Owned Builder (POB) module, a brilliant innovation by Skip Protocol, will be incorporated. This feature offers developers a unique approach, allowing them to shape their applications and validate blocks on-chain transparently and conclusively.

A Journey from Past to Present: This significant update follows LUNA’s price dip due to the UST stablecoin’s collapse. Post this event, the original chain was renamed Terra Classic (LUNC), and the upcoming upgrade will be implemented on this network. While some users have expressed reservations about the new features, a Terra developer confidently stated that LUNA is a trendsetter, not a follower.

LUNA’s Market Dynamics: LUNA showcased a strong bullish trend in the past day, with a slight pullback after not crossing the intra-day high of $0.4326. However, the overall market sentiment remains upbeat, with the bulls maintaining solid support above $0.4079. If the bearish trend breaches the $0.40 support, the next critical level is approximately $0.385. Conversely, surpassing the $0.4326 mark could indicate a bullish continuation, targeting a new resistance near $0.45. Despite a market cap dip, LUNA’s trading volume has surged, reflecting continued investor confidence.

Final Thoughts: As Terra (LUNA) embarks on this transformative journey with its v2.5 upgrade, it stands poised to lead the crypto space, undeterred by skeptics. The prevailing bullish sentiment and unwavering community support hint at a bright future ahead.

The post Terra (LUNA) Gears Up for Exciting v2.5 Upgrade, Indicating Bullish Prospects appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Understanding Terra: Terra is a revolutionary blockchain protocol designed for global payment systems, leveraging stablecoins anchored to traditional fiat currencies. What sets Terra apart is its unique approach of integrating stablecoins pegged to fiat. This integration aims to merge the limitless benefits of cryptocurrencies with the day-to-day price consistency of fiat currencies. An intricate algorithm is in place to autonomously tweak the stablecoin supply, ensuring a 1:1 price peg based on demand dynamics.

To bolster the Terra network’s security, it employs a proof-of-stake consensus mechanism rooted in the Tendermint protocol. Within this framework, holders of the LUNA token contribute to transaction validation by staking their tokens. As a reward, they earn compensation directly proportional to their staked LUNA amount.

Distinguishing LUNA Classic: LUNA Classic, denoted as LUNC, represents the original Terra LUNA coin that remained post the UST/Luna downturn, leading to the inception of a fresh Terra chain. Following this event, the original chain bifurcated into LUNA Classic and the new Terra chains. While the new chain is recognized as LUNA 2.0, LUNA Classic (LUNC) remains the native token of the original Terra LUNA blockchain.

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Compound’s native token, COMP, has witnessed a substantial boost in its value over the past week. A considerable volume of Tether (USDT) has been traded for the token, contributing to this impressive surge. COMP’s value spiked over 90% in the previous week alone, with a single-day increase of 13.6% just yesterday. Blockchain data reveals that millions of dollars worth of Tether were deposited on Binance for the sole purpose of withdrawing COMP, achieved in just a handful of transactions.

Alongside this surge in value, COMP’s trading volume has seen a notable upswing throughout June across various trading pairs. Despite the adverse effects of the mid-2022 Terra-related crypto crash on the reputation of the DeFi sector and a significant reduction in the sector’s Total Value Locked (TVL), there has been a recovery since the year’s commencement. This recuperation is partially attributed to the rising prices of cryptocurrencies during this same period.

Understanding Compound’s Role in DeFi

Compound is a Decentralized Finance (DeFi) platform designed on the Ethereum blockchain, dedicated to offering users accessible, efficient, and transparent financial services. Incepted in 2018, Compound facilitates the lending and borrowing of different cryptocurrencies through the application of smart contracts. Functioning as an algorithmic money market protocol, users can lend their assets to generate interest or borrow assets by collateralizing their existing holdings.

The governance model of Compound is driven by its community. The COMP token, Compound’s native token, serves as the platform’s governance token. COMP holders possess the authority to propose and vote on alterations to the protocol. These modifications may include changes to interest rates, collateral factors, and other associated parameters.

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It’s been a bumpy ride for Terra’s co-founder Do Kwon lately, as the Securities and Exchange Commission (SEC) charged him with violating securities laws in relation to the Terra token sale back in 2018. However, there’s a glimmer of hope for Kwon as his legal team has recently announced that they’re fighting back against the charges. In this article, we’ll dive into the latest developments in Kwon’s case and what this means for Terra and the wider crypto industry.

Hey, Hey, Hey! Do Kwon’s Legal Team is Fighting Back Against SEC Charges

According to a recent court filing, Do Kwon’s legal team is disputing the SEC’s allegations that Terra’s token sale constituted an unregistered securities offering. The filing argues that the Terra tokens were not investment contracts and therefore do not fall under the SEC’s regulatory purview. The defense team also claims that the SEC’s allegations are based on a flawed legal theory and that Kwon did not engage in any wrongdoing.

Kwon’s legal team has requested a jury trial in the case, which could take months or even years to conclude. However, the fact that they’re fighting back against the SEC’s charges is a positive sign for Kwon and Terra. It shows that they’re not giving up without a fight and that they believe they have a strong defense. If Kwon is successful in his defense, it could set a precedent for other crypto companies facing similar SEC charges.

“Terra”-fic News: Do Kwon’s Legal Team Refutes SEC Charges in Token Sale Case

This latest development in Do Kwon’s case is “Terra”-fic news for the crypto industry. The SEC has been cracking down on crypto companies in recent years, and many have been forced to settle with hefty fines or shut down altogether. However, Kwon’s decision to fight back against the charges could signal a changing tide in the industry.

Terra is a promising project that aims to create a stablecoin that’s pegged to various fiat currencies. If Kwon is successful in his defense, it could give Terra a boost and help it gain more traction in the market. It could also inspire other crypto companies to take a similar approach when facing SEC charges, which could ultimately lead to a more fair and balanced regulatory environment for the industry.

Overall, the news that Do Kwon’s legal team is fighting back against the SEC’s charges is a positive sign for Terra and the wider crypto industry. It shows that there’s still hope for crypto companies facing regulatory challenges and that they can fight back against unfair charges. As the case unfolds, we’ll be keeping a close eye on the developments and what they mean for the future of crypto.

The post Breaking: Do Kwon’s Legal Team Fights SEC Charges in Terra Token Sale Case appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Prosecutors in Seoul sent out a text message on Monday saying that Kwon had been given a Red Notice by the Interpol agency, the latest shameful chapter in the $2 trillion rout in digital assets that revealed enormously hazardous activities.

Kwon and five others have been charged with offences by South Korean authorities, including violations of capital-markets legislation. While it was known that Kwon had relocated from South Korea to Singapore this year to establish an office for Terraform Labs, the precise whereabouts of the man became murky when Singapore said on September 17 that he was no longer in the country. As a result, investigators from the prosecution have ramped up their search for him.

TerraUSD is an algorithmic stablecoin created by Terraform Labs, which also created the companion currency Luna. In May, both currencies crashed, sending the cryptocurrency market into a tailspin that was already weak from the Fed’s tightening of the money supply.

As of yet, digital assets have not recovered, and authorities across the world are examining the rubble for clues on how to prevent a repetition. Once-fervent support for cryptocurrencies in South Korea is gradually giving way to widespread contempt.

What Was Before Interpol Enter the Game

Three Arrows Capital was a successful cryptocurrency hedge fund until its demise in the wake of Terra’s fall and the larger market crash. Lenders and brokers including Voyager Digital Ltd. and Celsius Network Ltd. also felt the effects of the contagion.

After Kwon fled to Singapore, South Korean prosecutors filed an arrest order for him, citing circumstantial proof of flight. The fact that he was allegedly helping them was also disputed.

After TerraUSD failed, the Terra community was torn apart. Terra Luna Classic and TerraClassic USD are the renamed versions of the original tokens. Meanwhile, Kwon launched a second Terra chain, this time with a new Luna as its only token.

CoinGecko stats reveal that the new Luna cryptocurrency has lost 16% of its value in the past 24 hours. It seems that over 20% of Luna Classic has been lost. Even though TerraUSD has never regained its dollar peg, it is still traded on certain exchanges at an almost 14% discount.

The post Korea Says Interpol Red-Listed Terra’s Do Kwon appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Through UST losing their peg to U.S. dollar, LUNA where follow the supposed to be the stablecoin and also crash significantly. Here, investors of such tokens were hugely affected by dip.

Cryptocurrency Expert and Terra Tokens!

Though various cryptocurrency experts have also warned about instant crash of the Terra tokens. Various investors fail for heeding these warnings, as it ends up paying price.

Warning by MakerDAO Founder

The MakerDAO founder, warn the investors that UST stablecoin, along with Magic Internet Money known as MIM are solid Ponzi. As per the Christensen, rather than the fact that the people make huge profits through the investments in MIM and UST. The digital currencies do not have right kind resilience that is integrated into them. He adds that lack of cryptocurrency resilience in tokens will also expose duo to unusual volatility which can see price of assets crash with zero.

MIM and UST are solid ponzis which you may make some great money for sure. However, they do not build for the resilience and they make 0 once this market turns real. Now you should stop trying for making scam users and also looking for the actual stability for being the exit liquidity.

It is also important to mention that UST and MIM cryptocurrency have common set of features. This involves to create the perfect opportunity for community of crypto for earning the passive income. There are many people, who also warn people for avoiding the investment in Terra. UST also took a crash because of high level of ROI which is paid for the investment plan to the investors.

The post The Founder Predicted MakerDAO’s TerraUSD as cryptocurrency being the Ponzi! appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Terra (LUNA) blockchain developer Terraform Labs (TFL) has gifted the Luna Foundation Guard 10 million LUNA worth around $820 million at current prices.

The Luna Foundation Guard (LFG) is a nonprofit organization using the Terra. This charity based organization is tasking and collateralizing the network’s algorithmic stablecoin Terra USD (UST). The purpose is to keep it pegged with the U.S. dollar.

Moreover, Terraform Labs’ latest announcement came via Twitter on April 14. However, it did not outline what the funds would go towards specifically. The transaction data from Terra Finder shows that 7.8 million LUNA (roughly $630 million) was promptly transferred out of the LFG’s reserve wallet yesterday.

In addition, Some additional Avalanche (AVAX) tokens could be on the shopping list as well. Considering both TFL and LFG purchased $100 million worth of AVAX last week.

Following Terra’s recent (and ongoing) Bitcoin (BTC) buying spree, which includes the purchase of roughly 2,500 BTC ($100 million). So only two days ago, the wallet belonging to LFG became the 3rd largest holder of digital gold globally. It has a tail behind MicroStrategy and Tesla.

The latest donation to the LFG comes just over a month since Terraform Labs gifted $1.1 billion worth of LUNA, and it could be burnt to mint UST and grow its reserves.

According to the LFG’s accounting records, its total reserve balance stands at $2.44 billion at the time of writing. Along with the BTC representing around 70% of that figure at $1.71 billion.

Despite all of the bullish developments with Terra of late, the price of LUNA is down 7% over the last 30 days to sit at $81.65 at the time of scripting

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