Die österreichische Kryptobörse Bitpanda führt Staking ein, eine Option, bei der man – ähnlich wie bei einer Festgeldanlage – Kryptowährungen anlegt, um Zinsen (Rewards) zu generieren.
Sorge um Kopplung bei Stablecoin TerraUSD: UST bricht auf 0,67 US-Dollar ein
TerraUSD und der stützende Coin LUNA sind stark eingebrochen und auch die Marktkapitalisierung hat unter den starken Verkäufen gelitten.
Here is why LUNA is down by more than 40% in the last 24 hours
LUNA is one of the worst performers amongst the major cryptocurrencies by market cap.
The bearish sentiment in the market grows ticker as the market lost over $100 billion in the last 24 hours. The crypto market has lost more than 2% of its value in the last 24 hours and the total market cap now stands below $1.5 trillion.
Bitcoin briefly dropped towards the $30k psychological level before rebounding to now trade at $31,800 per coin. Ether continues to trade above $2,400 and is up by less than 1% despite the broader market in a bearish situation.
However, the biggest loser amongst the top 20 cryptocurrencies by market cap is LUNA, the native token of the Terra ecosystem.
LUNA is down by 44% over the past 24 hours and has lost its place amongst the top 10 cryptocurrencies by market cap. The coin now occupies 13th place in the market.
The bearish performance came after Terra’s UST stablecoin slipped below its dollar peg twice yesterday. UST dropped to $0.69 yesterday, resulting in questions about the stablecoin’s stability.
UST’s predicament led to LUNA losing more than 40% of its value over the last 24 hours.
Key levels to watch
The LUNA/USDT 4-hour chart is one of the most bearish amongst the top 20 cryptocurrencies by market cap.
The MACD line is below the neutral zone, indicating bearish momentum. Furthermore, the 14-day RSI of 21 shows that LUNA is currently oversold.
At press time, LUNA is trading at $33.05 per coin. If the bearish trend continues, it could drop below the $30 support level soon.
However, LUNA has shown signs of recovery over the past few hours and could move past the first major resistance level at $39 before the end of the day.
The post Here is why LUNA is down by more than 40% in the last 24 hours appeared first on Coin Journal.
UST crash shows dangers of un-backed DeFi stablecoins, says Yield App CEO
The TerraUSD (UST) token crashed to lows of $0.61 on Monday as it massively de-pegged from the $1 peg even as the broader crypto market bled amid the worst sell-off of 2022.
UST has since moved back up amid a raft of measures to reestablish the peg by the Luna Foundation Guard, the organization that currently oversees the UST treasury.
As the algorithmic token fell, the LFG deployed its $2.2 billion BTC reserves – a move likely to have helped stem the rot- with BTC price falling briefly below $30k and LUNA nosediving more than 50% to around $28.
UST is vulnerable as LUNA trades 50% down in 24 hours
Tim Frost, founder and CEO of Yield App says the crash points to the vulnerabilities facing decentralized stablecoins.
“A brutal start to the week for the entire cryptocurrency market has brought one of its latest stars to its knees: UST. Just when we thought a decentralized, algorithmic stable coin had finally made the grade and proved all skeptics wrong, it slips 40% below its USD peg,” Frost told CoinJournal via email.
At the time of writing, UST is back to around $0.90 as BTC sees a slight recovery above $31.5k and Terra (LUNA) pares some of the losses to currently trade around $30. The LUNA/USD pair is however still 50% down.
Frost believes fresh selling around the DeFi token could mean LFG’s measures are “unlikely this is going to prove a long-term solution.” More inbound pressure on UST is thus possible.
“More importantly, this underlines how vulnerable decentralized stablecoins that rely on theoretical pegs instead of hard cash are in a good old-fashioned bank run. There is little anybody can do when investors start heading for the door en masse other than join the stampede and accept a huge loss,” the Yield App chief added.
On the overall outlook of the crypto market, Frost says “there is now little doubt we are in the midst of the most aggressive bear market since 2018.”
The post UST crash shows dangers of un-backed DeFi stablecoins, says Yield App CEO appeared first on Coin Journal.
Bitcoin (BTC) testet Unterstützung bei 30.000 US-Dollar: Daten deuten auf Akkumulation durch Wale hin
Auf dem Kryptomarkt herrscht Angst, während der BTC-Kurs um 30.000 US-Dollar pendelt. Daten deuten allerdings darauf hin, dass die Wale in dieser Zone akkumulieren.