IITMIND: EdTech, Finance and Crypto currencies

LUNA SURGES UPTO 3300% AFTER TERRA FOUNDER PROPOSES REVIVAL PLAN

After the recent collapse of the Terra ecosystem, founder Do Kwon came up with a revival plan for the Terra blockchain network.


Terra founder Do Kwon has finally come publicly on Twitter after announcing the "Terra Ecosystem Revival Plan". Do Kwon says the team is currently working on using the Bitcoin reserves of Luna Foundation Guard (LFG) to rescue the Terra ecosystem. The focus is to save the community and developers. After this news, the native token of terra ($LUNA) has seen a huge surge of 3300% in the pricing after Friday's crash.

UST’s unexpected crash has destroyed investors' trust in the Terra ecosystem. As of now, both UST and LUNA are trading below $1, therefore it will be interesting to see how the Terra team works on their revival plan.

The Founder had proposed resetting Terra’s ownership to 1 billion tokens. As the main priority right now is to protect the developers and core elements of their blockchain ecosystem.


>> Disclaimer Risk warning:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses. 

Previous Post Next Post

Contact Form