A few weeks after the collapse of the Terra blockchain, and TerraUSD lost its stake in the dollar, a new iteration will be launched. Obviously, not everyone is for sale.
About three weeks after the collapse of the Terra blockchain and TerraUSD lost its stake in the dollar, a new iteration of Terra blockchain will be launched, called Terra 2.0 or Luna 2.0. A new Luna coin will also be made in the process. Here's what you need to know.
What is Luna 2.0? It is the original Luna blockchain fork, which will see the launch of a coin named by Luna.
Is the Luna coin already there? Yes, but the old Luna coin, which turned out to be worthless earlier this month, will be renamed Luna Classic and traded under the LUNC tick. The new Luna coin will be traded under the LUNA tick.
What about airdrop? Airdrop, in terms of crypto, is where coins are given free of charge – usually for promotional purposes to generate interest on a coin. The new Luna will release to the existing owners of the old Luna money (now Luna Classic) and the owners of TerraUSD, who lost its pin in the dollar, leading to its collapse.
How much new Luna will I get from airdrop? In the Post: "The amount of LUNA you will be eligible for will be determined by the types of tokens you hold in the Terra Classic series, the time you hold these tokens (based on Pre-Attack and post-attack summaries), and the number of tokens seized." See the post for detailed examples.
When is Launch? According to the @trara_money Twitter account, it will be launched tomorrow, May 28, 2022, at 6 am UTC (2 am. EST).
Is there anything else you need to know? After the dramatic collapse of TerraUSD and the first Luna a few weeks ago — which have devastated lives-saving lives — many wonder why anyone would give this new repetition the opportunity. Add Mark Cuban to that list: The billionaire and avid crypto investor has told Fortune he will not invest in the new Terra series. When asked if he would invest, he simply replied, “No.”
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The cryptocurrency market is valued at $ 1.35 trillion, a good deal of less than half of $ 3 trillion in November.
Almost all digital currencies, even stablecoins, have been red for the past seven days.
Bitcoin, the king of cryptocurrencies, has lost about 56% of its market value compared to its $ 69,044.77 record reached on November 10. Prices are now almost $ 30,000 after falling to $ 28,000, levels never seen since December 2020.
Ether, Ethereum's popular traditional blockchain token that allows for the creation of financial systems separated from the NFTs, has dropped by 57% from its all-high high of $ 4,878.26 reached Nov. 10.
Favorites for Crypto enthusiast dogecoin and shiba dropped by 87.3% and 84% respectively from the all-time high.
Only a few stablecoins, their prices should not change because they are tracking the dollar, they are stable. Tether, the stable stablecoin by market value, has risen 0.2% in the last seven days, while the USD Coin has risen 0.5% and the Binance USD has risen 0.4%.
UST and Luna Are Near Worthless
But the disaster affected the Terra ecosystem, which was in vogue a few weeks ago.
Its traditional token games, including the stablecoin UST or TerraUSD, as well as the Luna token, have lost almost all of its value.
The UST, denominated in the dollar, finally the check dropped to $ 0.102542 - more than a dam. It dropped 84% in the last 24 hours. Stablecoin, which has lost its stability, fell 91.4% from its $ 1.09 high target on Jan. 11.
As for the Luna token, its price dropped to $ 0,0001826. Crypto has lost 99.9% of its value in the last 24 hours. It traded as high as $ 119.18 on April 5.
The two cryptos took a big hit on May 13 when crypto exchange Binance and OKX decided to remove them from the list to protect their customers.
Cryptocurrency firms are filling office space in New York City as they look to file a long-term lawsuit against Big Apple, competing with Wall Street for the next financial base.
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Andreeson Horowitz, one of the world's largest business companies, signed a long-term lease agreement on December 33,560 square feet at 200 Lafayette Street in NYC for its $ 3.1 billion crypto fund.
Other crypto firms set up the store, too: Chainalysis leased more than 77,000 square feet on 114 Fifth Avenue; Blocktech rented space at 55 Wall Street; Cipher Mining is employed at One Vanderbilt; and Coinbase opened its first NYC office 30,000 square feet at 55 Hudson Yards shortly after it went public last April.
"We have a lot of demand," Brandon Charnas, founder of Current Real Estate Advisors, who established an agreement with Andreeson and other crypto companies in NYC, told. "We get a lot of phone calls from NFT-based, Web3-based and blockchain-based portfolio companies where a ton of those companies are opening up space in New York."
One of the biggest forces driving crypto firms to establish a store in NYC: attracting top employees. Charnas said companies are looking for office space to accommodate top-level engineers and event venues.
“What better way to compete with those engineers than to have the amazing space they can go to represent a company, which means more than just a workplace, a company that reflects the company's values. brand, ”he said.
Office space is becoming increasingly important to attract investors to invest more in new crypto companies and ink deals themselves, he added.
"Let's not just have an office space," he said. “Let's have an office that also has an event venue, a venue for the founders, and an incubator for the founders. That way we can win the best deals. ”
Chainalysis is the only crypto firm that founded the store in New York, looking to make money with an eye-catcher looking at the city as the new crypto capital.
"As the world's financial capital and emerging technology center, New York is a sensible home for cryptocurrency businesses and other organizations investing in web3 and financial futures," said Michael Gronager, founder and CEO of Chainalysis, in an email to Grizler. "As Chainalysis continues to grow, we plan to enter the city's deepest talent pool."
As New York competes with Miami to attract start-ups, business firms, and crypto trading, NYC Mayor Eric Adams - a crypto enthusiast who receives his first three crypto currency earnings - has promised to make New York a crypto platform for attract talent, create jobs, and boost the local economy. Adams' positive comments on crypto and similar comments from other local politicians create confidence in the business community and attract crypto firms, Charnas said.
"As a U.S. historical history center, NYC is home to many talented and invested people from the financial and technology industries who have converted to crypto, so it became clear that investing in our office space here will be long-term. Benefits as we grow," he said. Hisham Elhaddad, managing partner of HOF Capital, a business fund invested in blockchain technology companies, in a statement.
Last year, NYC attracted $ 6.5 billion in total crypto companies, placing it first among all U.S. cities. about half the world's total amount of crypto companies, according to data provider CB Insights.
And Charnas said crypto companies are not only testing water, they are looking to create a long-term footprint.
"Let's not just sign a temporary lease agreement, let's sign a ten-year lease agreement in New York City," Charnas said of the companies he works with. "That, combined with local government statements, shows that New York City is big and we are putting our flag down in New York City because it will be the center of these kinds of businesses."
And it is a bright spot for the New York office market, struggling to recover from the epidemic. Total market capitalization reached 18.5% in the first quarter, up from 18.1% in the fourth quarter and a new high after 2005, according to global trading company Avison Young.
"It's not just that long-term investment firms in the office space, new industries and emerging companies working for crypto - like the media and banks - are creating a new demand for office space," Charnas said.
Companies are also discussing how to pay for portions of their office agreement with crypto and give homeowners novels to participate in what they see as prices rise. Charnas said homeowners promised to take one Bitcoin per month to rent to tenants. He also said that high-profile homeowners are talking to crypto firms and crypto investors to get a balanced education and economy for potential potential employers.
