Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
Solana crypto is a high throughput blockchain based on the Proof of History (PoH) and Proof of Stake (PoS) consensus. Built by a team of networking engineers, Solana aims to become the blockchain infrastucture for modern internet applications.
Terra is a decentralized financial payment network that rebuilds the traditional payment stack on the blockchain. Luna is the reserve currency of the Terra platform. It has three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stablecoins and iii) provide incentives for the platform’s blockchain validators.
Terra acquired more Bitcoin over the weekend and now holds nearly 40,000 BTC, worth USD $1.6 billion by the time of publishing.
The blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. project Earth continues to push ahead with its plans to reserve its stable currency currency is a medium of exchange that defines value. TerraUSD (UST) with a fund of USD $10 billion in Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. .
During the weekend, Luna Foundation Guard (LFG), the treasury that supports UST, added $173 million in bitcoins to your wallet a place where cryptocurrency users can store, send and receive digital assets. , según reseñó CoinDesk . The most recent purchases have boosted stocks of Bitcoin de Earth to almost 40,000 BTC. Specifically, the treasury management maintains 39,897.9 bitcoins valued at USD $1.6 billion at the time of going to press.
LFG es una organización sin fines de lucro con sede en Singapur que tiene la tarea de crear reservas que respalden la moneda estable algorítmica UST, que mantiene paridad con el dólar estadounidense.
Originally, UST was algorithmically backed by LUNA, the native token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. of Earth but recently, the project’s founder, Do Kwon, revealed plans to expand this backing with reserves at Bitcoin and other cryptocurrencies.
Land diversifies in Avalanche y Solana
As reported by DiarioBitcoin , Do Kwon the CEO of Terraform Labs expressed in March its intention to acquire USD $10 billion in Bitcoin to back the project’s stablecoin. He said that in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term, the goal is to add $3 billion in BTC.
Las organizaciones que apoyan Earth have been acquiring the flagship cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. at a rapid pace. In the past two weeks, the project’s wallet has added Bitcoin worth just over $540 million. The previous purchase occurred on April 6, when management added 5,040 BTC, valued at USD $227 million, based on prices at the time.
But beyond the purchases of Bitcoin Kwon has recently unveiled plans to diversify UST reserves to other major cryptocurrencies. In an interview for TechCrunch said the founder said these purchases were just the beginning of the roadmap a roadmap is a high-level visual summary that helps map out the vision as well as the direction of a specific product. for Earth to support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. UST, because the project also plans to buy assets such as Avalanche (AVAX) and Solana (SOL).
We are big believers in Bitcoin, so we will continue to buy whenever there is an opportunity. Over time, Terra will be backed by a basket a basket, when used in the cryptocurrency space, refers to a collection of digital currencies managed as a single asset. of the top Tier 1 assets.
The protocol’s plans to diversify its reserves began to materialize last April 7, when LFG signed a strategic agreement with the Avalanche Foundation which included the USD $200 million acquisition of AVAX , la moneda nativa de ese ecosistema.
As reported by DiarioBitcoin The collaboration aims to create a bridge for the interoperability blockchain interoperability, or cross-chain interoperability, is the ability to see and share information across multiple blockchains. of decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. applications operating in both chains. As part of the agreement, the Avalanche Foundation now also holds funds in UST and LUNA.
LUNA lowers price
Amidst the news of the accumulation of Bitcoin and the most recent diversification diversification is a risk-management strategy that mixes a wide variety of investments within a portfolio. of its reserves, Earth experienced a surge in its native token. LUNA conquered an all-time high above USD $115 on April 3, according to data fromCryptoMarketsThis indicated a certain optimism among the project’s investors about the ambitious roadmap.
However, and in spite of the acquisition of Bitcoin registrada este fin de semana, la criptomoneda ha corregido las ganancias. Para el momento de edición, LUNA se cotiza alrededor de los 86 dólares, con pérdidas de 7% en las últimas 24 horas. La caída se produce en medio de una corrección generalizada en el mercado de monedas digitales que ve a BTC valorarse cerca de los USD $40.000.
- Terra took advantage of the fall to buy USD $230 million more in Bitcoin
- Terra founder bets more than USD $10 million that LUNA will go up in the next year
- Terra’s UST: the first decentralized stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency. with USD $10 billion capitalization
Article by Hannah Estefania Perez / DiarioBitcoin
Image edited from Unsplash