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Bitcoin ETF Outflows Hit $228.2 Million Amid BTC Price Dip, What’s Happening?
Bitcoin ETFs experience significant outflows totaling $228.2 million, with BlackRock's IBIT ETF as the exception. Discover the market trends and investor sentiments driving these movements.
HIGHLIGHTS
U.S. Bitcoin spot ETFs see net outflows of $226.2 million, with only BlackRock's IBIT ETF attracting $18.2 million in new investments.
Fidelity’s FBTC, Grayscale’s GBTC, and Ark Invest’s ARKB among the funds experiencing substantial withdrawals.
Bitcoin price dips, yet whale accumulation increases and buying interest surges, indicating ongoing market volatility.
Recent monitoring data from Farside Investors revealed a substantial net outflow of US$226.2 million from the US Bitcoin spot ETF market yesterday. This significant movement indicates a shifting sentiment among investors.
While most funds saw outflows, BlackRock’s IBIT ETF stood out as the only fund to attract new investments, reporting a net inflow of US$18.2 million. This development shows the varying investor sentiments towards different Bitcoin ETFs in a volatile market, highlighting that not all funds are perceived equally by investors.
Bitcoin ETFs experience significant outflows totaling $228.2 million, with BlackRock's IBIT ETF as the exception. Discover the market trends and investor sentiments driving these movements.
HIGHLIGHTS
U.S. Bitcoin spot ETFs see net outflows of $226.2 million, with only BlackRock's IBIT ETF attracting $18.2 million in new investments.
Fidelity’s FBTC, Grayscale’s GBTC, and Ark Invest’s ARKB among the funds experiencing substantial withdrawals.
Bitcoin price dips, yet whale accumulation increases and buying interest surges, indicating ongoing market volatility.
Recent monitoring data from Farside Investors revealed a substantial net outflow of US$226.2 million from the US Bitcoin spot ETF market yesterday. This significant movement indicates a shifting sentiment among investors.
While most funds saw outflows, BlackRock’s IBIT ETF stood out as the only fund to attract new investments, reporting a net inflow of US$18.2 million. This development shows the varying investor sentiments towards different Bitcoin ETFs in a volatile market, highlighting that not all funds are perceived equally by investors.
🚨SEC vs TFL VERDICT!
Hard to see how TFL and Do Kwon comes back from this. Sad day for $LUNA ! 😢
PS. $LUNC remains unaffected
Hard to see how TFL and Do Kwon comes back from this. Sad day for $LUNA ! 😢
PS. $LUNC remains unaffected
LUNA & LUNC Price Analysis
Terra (LUNA) is in an overall 97.13% fall after its peak two years ago, where it rose to an all-time high of $19.54. The altcoin had a decent surge today as the LUNA price increased to $0.5973 before declining to the current value of $0.5429. It has a market cap of $415,779,481, placing it 150th on the CoinmarketCap. LUNA’s trading volume is at $61,744,317, which has surged 102% in the last 24 hours, clarifying the reasons behind this surge.
LUNC is also on the same path, facing a 99.99% decline from its peak days in May 2022. Because of that, the Terra Classic price is at $0.0001027, which has hiked 1.18% from yesterday. Along with that, it has a market cap of $594,114,483. The surge in its network activity has pushed the trading volume to $37,034,782 after a 40% rise.
LUNA and LUNC had a better performance a few hours ago, as the trend seems to be declining by now as a slight downward moment is noticeable in the charts.
Terra (LUNA) is in an overall 97.13% fall after its peak two years ago, where it rose to an all-time high of $19.54. The altcoin had a decent surge today as the LUNA price increased to $0.5973 before declining to the current value of $0.5429. It has a market cap of $415,779,481, placing it 150th on the CoinmarketCap. LUNA’s trading volume is at $61,744,317, which has surged 102% in the last 24 hours, clarifying the reasons behind this surge.
LUNC is also on the same path, facing a 99.99% decline from its peak days in May 2022. Because of that, the Terra Classic price is at $0.0001027, which has hiked 1.18% from yesterday. Along with that, it has a market cap of $594,114,483. The surge in its network activity has pushed the trading volume to $37,034,782 after a 40% rise.
LUNA and LUNC had a better performance a few hours ago, as the trend seems to be declining by now as a slight downward moment is noticeable in the charts.
Why LUNA and LUNC Prices Are Surging Today?
With two years of downtrend, the Terra tokens have lost all the value. But with today's rise, LUNA and LUNC are bullish due to the improvement in the SEC case.
The Terra tokens are on the move again, creating high hopes among investors to see a recovery in value. With the downfall of these cryptos in 2022, it is about time to witness some major gains because of the bullish market situation. The upcoming altcoin season is the hope for Terra (LUNA) and Terra Luna Classic (LUNC) holders.
This LUNA and LUNC price surge is interesting as the rest of the market was in downfall earlier, where Bitcoin and the rest of the popular altcoins declined. On that note, let us discuss why these Terra tokens are rising today.
With two years of downtrend, the Terra tokens have lost all the value. But with today's rise, LUNA and LUNC are bullish due to the improvement in the SEC case.
The Terra tokens are on the move again, creating high hopes among investors to see a recovery in value. With the downfall of these cryptos in 2022, it is about time to witness some major gains because of the bullish market situation. The upcoming altcoin season is the hope for Terra (LUNA) and Terra Luna Classic (LUNC) holders.
This LUNA and LUNC price surge is interesting as the rest of the market was in downfall earlier, where Bitcoin and the rest of the popular altcoins declined. On that note, let us discuss why these Terra tokens are rising today.
Terraform Labs Has Just $75 Million In Assets, How Will It Pay the SEC $4.75 Billion?
Crypto community has raised doubts about Terraform's ability to pay such a substantial sum, equivalent to 64,824 Bitcoin, given their reported $75 million in known assets.
HIGHLIGHTS
The Terraform settlement comprises $4.05 billion in disgorgement and a $420 million civil fine.With $75 million in assets from its "known" wallet, questions remain as to where the additional $3.75 billion will come from.Crypto community demands that Terra should first pay all the affected users from the 2022 crash.
In a major announcement on Wednesday, Terraform Labs stated that they would be paying nearly $4.5 billion in order to settle the SEC lawsuit. However, many in the crypto community have started raising doubts about how the bankrupt Terraform Labs with only $75 million in assets under management plan to pay such a massive amount in fines.
From Where Will Terraform Labs Bring $4.5 Billion?
CryptoQuant founder Ki Young Ju recently questioned the source of such a large sum of settlement by Terraform Labs which is equivalent to 64,824 Bitcoin. He questioned whether this sum was actually used to restore the UST peg while expressing suspicion over the transaction.
“Where does this money come from? Did they actually use it to restore the peg? Sus,” Ki Young Ju stated on X platform. He further stated that the $4.47 billion cash-out is implausible, even if Terraform’s market cap is $40 billion while adding that neither Do Kwon nor Terraform Labs should possess such a substantial amount of funds. As reported by CoinGape, Coinbase CLO Paul Grewal also raised doubts over the SEC settlement.
On the other hand, Terraform Labs has only $75 million worth of assets in their “known” wallet. So the question remains where will it bring the additional $3.75 billion?
So #Terraform only have $75m in assets in their “known” wallets – where is the $3.75b balance of this #SEC fine coming from? 👀 pic.twitter.com/vqcbeGMgte
David Hoffman, the co-founder of Bankless and Ethereum contributor stated: “If Terraform Labs ACTUALLY has $4.5B in assets… and if it ACTUALLY is paid as a fine to the U.S. SEC, instead of the users who lost it…. it’ll be one of the craziest examples of agency corruption in our lifetimes”.
What’s the Truth Behind the $4.5 Billion SEC Settlement?
Note that the current settlement with Terraform Labs involves disgorgement to the bankrupt estate instead of any direct payment to the SEC. The judgment includes $4.05 billion in disgorgement in addition to interest and a $420 million civil fine.
Considering Terra’s bankruptcy filing in January, they are unlikely to pay much of the total settlement amount. Rather, it will be treated as an unsecured claim in the Chapter 11 liquidation process.
Terra founder Do Kwon has also agreed to a ban on crypto transactions and shall transfer $204 million to Terraform’s bankruptcy estate.
HIGHLIGHTS
The Terraform settlement comprises $4.05 billion in disgorgement and a $420 million civil fine.With $75 million in assets from its "known" wallet, questions remain as to where the additional $3.75 billion will come from.Crypto community demands that Terra should first pay all the affected users from the 2022 crash.
In a major announcement on Wednesday, Terraform Labs stated that they would be paying nearly $4.5 billion in order to settle the SEC lawsuit. However, many in the crypto community have started raising doubts about how the bankrupt Terraform Labs with only $75 million in assets under management plan to pay such a massive amount in fines.
From Where Will Terraform Labs Bring $4.5 Billion?
CryptoQuant founder Ki Young Ju recently questioned the source of such a large sum of settlement by Terraform Labs which is equivalent to 64,824 Bitcoin. He questioned whether this sum was actually used to restore the UST peg while expressing suspicion over the transaction.
“Where does this money come from? Did they actually use it to restore the peg? Sus,” Ki Young Ju stated on X platform. He further stated that the $4.47 billion cash-out is implausible, even if Terraform’s market cap is $40 billion while adding that neither Do Kwon nor Terraform Labs should possess such a substantial amount of funds. As reported by CoinGape, Coinbase CLO Paul Grewal also raised doubts over the SEC settlement.
On the other hand, Terraform Labs has only $75 million worth of assets in their “known” wallet. So the question remains where will it bring the additional $3.75 billion?
So #Terraform only have $75m in assets in their “known” wallets – where is the $3.75b balance of this #SEC fine coming from? 👀 pic.twitter.com/vqcbeGMgte
David Hoffman, the co-founder of Bankless and Ethereum contributor stated: “If Terraform Labs ACTUALLY has $4.5B in assets… and if it ACTUALLY is paid as a fine to the U.S. SEC, instead of the users who lost it…. it’ll be one of the craziest examples of agency corruption in our lifetimes”.
What’s the Truth Behind the $4.5 Billion SEC Settlement?
Note that the current settlement with Terraform Labs involves disgorgement to the bankrupt estate instead of any direct payment to the SEC. The judgment includes $4.05 billion in disgorgement in addition to interest and a $420 million civil fine.
Considering Terra’s bankruptcy filing in January, they are unlikely to pay much of the total settlement amount. Rather, it will be treated as an unsecured claim in the Chapter 11 liquidation process.
Terra founder Do Kwon has also agreed to a ban on crypto transactions and shall transfer $204 million to Terraform’s bankruptcy estate.
Solana Price Analysis Hints Rally to $200 as OnChain Metric Jumps 33%
Solana Price Analysis: Explore how SOL’s symmetrical triangle pattern and increased on-chain activity suggest potential for future price gains.
HIGHLIGHTS
A bullish breakout from the triangle pattern is needed to trigger a directional rally in the SOL price.
The flattish trend of 20-and-50-day EMAs accentuates the near-term trend sideways for this token.
The 24-hour trading volume on the Solana coin is $2.57 Billion, indicating a 6.04% loss.
Solana Price Prediction: On June 12th, the Solana coin witnessed a notable jump of 7% to reach the trading value of $160. This uptick followed the broader market recovery as crypto investors reacted positively to the U.S. CPI Data. The United States reported that May’s unadjusted Consumer Price Index (CPI) annual rate stood at 3.3%. A less hawkish monetary policy generally supports riskier assets, including cryptocurrencies, by maintaining more favorable liquidity conditions.
Solana Price Analysis: Explore how SOL’s symmetrical triangle pattern and increased on-chain activity suggest potential for future price gains.
HIGHLIGHTS
A bullish breakout from the triangle pattern is needed to trigger a directional rally in the SOL price.
The flattish trend of 20-and-50-day EMAs accentuates the near-term trend sideways for this token.
The 24-hour trading volume on the Solana coin is $2.57 Billion, indicating a 6.04% loss.
Solana Price Prediction: On June 12th, the Solana coin witnessed a notable jump of 7% to reach the trading value of $160. This uptick followed the broader market recovery as crypto investors reacted positively to the U.S. CPI Data. The United States reported that May’s unadjusted Consumer Price Index (CPI) annual rate stood at 3.3%. A less hawkish monetary policy generally supports riskier assets, including cryptocurrencies, by maintaining more favorable liquidity conditions.
LUNC and USTC Prices Climbed
LUNC price jumped 4% in the last 24 hours amid positive sentiment due to cooling CPI, with the price currently trading at $0.0001049. The 24-hour low and high are $0.00009855 and $0.0001057, respectively. Moreover, trading volume increased by 20% in the last 24 hours, indicating interest among traders.
However, the price is still below the key level of $0.00012 and needs to soar above the level for a massive rally in Terra Classic ecosystem tokens.
Meanwhile, USTC price also climbed more than 3%, with the price now trading at $0.02378. The 24-hour trading volume saw a mere 5% rise in the last 24 hours as traders await the Fed interest rate decision post-FOMC today.
LUNC price jumped 4% in the last 24 hours amid positive sentiment due to cooling CPI, with the price currently trading at $0.0001049. The 24-hour low and high are $0.00009855 and $0.0001057, respectively. Moreover, trading volume increased by 20% in the last 24 hours, indicating interest among traders.
However, the price is still below the key level of $0.00012 and needs to soar above the level for a massive rally in Terra Classic ecosystem tokens.
Meanwhile, USTC price also climbed more than 3%, with the price now trading at $0.02378. The 24-hour trading volume saw a mere 5% rise in the last 24 hours as traders await the Fed interest rate decision post-FOMC today.
Terra Luna Classic Starts Voting on Tax2Gas Proposal
Proposal 12115 “Genuine Labs Tax2Gas Implementation” is currently under governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas and help prevent as much attack vectors as possible using e2e-test.
At press time, the proposal has received 99.98% “Yes” votes and indicates the community’s acceptance to the Tax2Gas implementation. All validator who participated have voted in favor of the proposal. It received quick support from validators such as JESUSisLORD, StakeBin, Ninja Node, and others.
As reported earlier, Tax2Gas proposal looks to resolve issues including contract developers’ need to calculate the tax manually. Moreover, clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.
Developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.
Proposal 12115 “Genuine Labs Tax2Gas Implementation” is currently under governance voting on Station wallet. The proposal by Genuine Labs aims to proceed with incorporating tax into the gas and help prevent as much attack vectors as possible using e2e-test.
At press time, the proposal has received 99.98% “Yes” votes and indicates the community’s acceptance to the Tax2Gas implementation. All validator who participated have voted in favor of the proposal. It received quick support from validators such as JESUSisLORD, StakeBin, Ninja Node, and others.
As reported earlier, Tax2Gas proposal looks to resolve issues including contract developers’ need to calculate the tax manually. Moreover, clients or dApps have to calculate the tax themselves as the simulation endpoint only provides gas estimates. Migrating audited dApps becomes cumbersome due to these Classic-specific adjustments, leading to potential re-audits.
Developers require 5 weeks for research, development, and basic testing and deployment. The estimated total budget is $25,000 in LUNC.
LUNC News: Terra Luna Classic Community Votes On Game Changing Proposal
LUNC News: Terra Luna Classic community starts voting on crucial proposal to implement tax into gas called Tax2Gas to
HIGHLIGHTS
Terra Luna Classic proposal to implement Tax2Gas is live for governance voting.
The proposal aims to remove the need for separating handling and calculation of tax faced by dApps developers and others.
LUNc and USTC prices jumps over 3%.
LUNC News: Terra Luna Classic proposal to implement Tax2Gas and remove the need for separating handling and calculation of tax. Tax2Gas will incorporate the tax into the gas and decrease complexities for dApp developers, as per a proposal by StrathCole and Genuine Labs.
LUNC News: Terra Luna Classic community starts voting on crucial proposal to implement tax into gas called Tax2Gas to
HIGHLIGHTS
Terra Luna Classic proposal to implement Tax2Gas is live for governance voting.
The proposal aims to remove the need for separating handling and calculation of tax faced by dApps developers and others.
LUNc and USTC prices jumps over 3%.
LUNC News: Terra Luna Classic proposal to implement Tax2Gas and remove the need for separating handling and calculation of tax. Tax2Gas will incorporate the tax into the gas and decrease complexities for dApp developers, as per a proposal by StrathCole and Genuine Labs.
Last day to submit the agreement between Terra and the SEC to the Court!
➖ The court will examine the text and make its decision.
▪️If there is no statement from SEC or Terra first, we will wait again.
We are in important days for investors of ➖#LUNC , #USTC and #LUNA .
#BinanceHerYerde #TopCoinsJune2024 $LUNC $BTC $USTC
➖ The court will examine the text and make its decision.
▪️If there is no statement from SEC or Terra first, we will wait again.
We are in important days for investors of ➖#LUNC , #USTC and #LUNA .
#BinanceHerYerde #TopCoinsJune2024 $LUNC $BTC $USTC
Bitcoin ETF Trading Volumes Hit 4-Week High But GBTC Outflows Escalate
The outflows from US Bitcoin spot ETFs have contributed to a drop in the total net asset value of Bitcoin spot ETFs, falling below $60 billion. BTC price faces selling pressure.
HIGHLIGHTS
Bitcoin ETFs have witnessed two consecutive days of outflows now jumping to $200 million.
Bitcoin ETF trading volume reached its highest level since May 15th.
Amid the recent outflows, the total net asset value for spot Bitcoin ETFs has dropped under $60 billion.
This week, the Bitcoin price has been facing strong selling pressure with the Bitcoin ETFs reporting two consecutive days of outflows after 19 consecutive days of inflows. On Tuesday, June 11, the total outflows registered by the US bitcoin ETFs surged to $200 million.
The outflows from US Bitcoin spot ETFs have contributed to a drop in the total net asset value of Bitcoin spot ETFs, falling below $60 billion. BTC price faces selling pressure.
HIGHLIGHTS
Bitcoin ETFs have witnessed two consecutive days of outflows now jumping to $200 million.
Bitcoin ETF trading volume reached its highest level since May 15th.
Amid the recent outflows, the total net asset value for spot Bitcoin ETFs has dropped under $60 billion.
This week, the Bitcoin price has been facing strong selling pressure with the Bitcoin ETFs reporting two consecutive days of outflows after 19 consecutive days of inflows. On Tuesday, June 11, the total outflows registered by the US bitcoin ETFs surged to $200 million.
Terra Luna Classic Prepares for Burn Tax Changes
Text proposal 12114 by popular developer Frag seeks PPJ approval to implement the burn tax distribution change passed by the Terra Luna Classic community. The developer seeks to start working on revising burn tax to implement the oracle pool split, as per conditions set in proposal 12098.
Terra Classic has a burn tax set to 0.5%, which is strongly adhered to by the community. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to rewards. As per 12098, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool.
The developer has set following requirements under the implementation plan:
Implementation of the new distribution logic in ante handler
Adjust the split parameters to reflect the new split logic
Adjust the proposal types and handlers to reflect the new parametrization
Writing ante handler unit tests to test if the new logic reflects the requirements of proposal 12098
Non-empty upgrade proposal handler to be able to rollout the changes with coordinated chain halt proposal and set the split/distribution parameters according to proposal 12098
Frag proposes to complete the work in 56 hours and charge $3600 in LUNC. This implementation needs development, local testing, writing of unit tests; testnet rollout and coordination; and mainnet rollout and coordination. He has set high odds of completing the implementation by mid-July.
Text proposal 12114 by popular developer Frag seeks PPJ approval to implement the burn tax distribution change passed by the Terra Luna Classic community. The developer seeks to start working on revising burn tax to implement the oracle pool split, as per conditions set in proposal 12098.
Terra Classic has a burn tax set to 0.5%, which is strongly adhered to by the community. Out of this, 80% is for burn and 20% is distributed as 10% to Community Pool and 10% to rewards. As per 12098, the 20% will be distributed as 10% to Community Pool and 10% to Oracle pool.
The developer has set following requirements under the implementation plan:
Implementation of the new distribution logic in ante handler
Adjust the split parameters to reflect the new split logic
Adjust the proposal types and handlers to reflect the new parametrization
Writing ante handler unit tests to test if the new logic reflects the requirements of proposal 12098
Non-empty upgrade proposal handler to be able to rollout the changes with coordinated chain halt proposal and set the split/distribution parameters according to proposal 12098
Frag proposes to complete the work in 56 hours and charge $3600 in LUNC. This implementation needs development, local testing, writing of unit tests; testnet rollout and coordination; and mainnet rollout and coordination. He has set high odds of completing the implementation by mid-July.
Terra Luna Classic Votes On Implementing New LUNC Burn Tax, Price To Fall Further
Terra Luna Classic proposal to implement new LUNC burn tax distribution as approved in an earlier proposal. LUNC price to face selling pressure.
HIGHLIGHTS
Terra Luna Classic community prepares to implement a revised LUNC burn tax distribution.
10% from the tax burn will be distributed to Oracle pool increasing staking.
Developer says it will be completed by mid-July.
This could cause volatile prices initially with LUNC and USTC falling further below key support levels.
LUNC News: The Terra Luna Classic community has started voting on a key proposal to implement a revised LUNC burn tax distribution. This pay-per-job (PPJ) proposal seeks community members and validators’ approval on moving ahead with changes as per proposal 12098 passed earlier by the Terra Classic community in April.
Terra Luna Classic proposal to implement new LUNC burn tax distribution as approved in an earlier proposal. LUNC price to face selling pressure.
HIGHLIGHTS
Terra Luna Classic community prepares to implement a revised LUNC burn tax distribution.
10% from the tax burn will be distributed to Oracle pool increasing staking.
Developer says it will be completed by mid-July.
This could cause volatile prices initially with LUNC and USTC falling further below key support levels.
LUNC News: The Terra Luna Classic community has started voting on a key proposal to implement a revised LUNC burn tax distribution. This pay-per-job (PPJ) proposal seeks community members and validators’ approval on moving ahead with changes as per proposal 12098 passed earlier by the Terra Classic community in April.
LUNC Price Forecast: Bearish Technicals, Bullish Fundamentals
Terra Classic investors anticipate an eventful week, with key events on June 11 and June 12 potentially impacting the asset’s price action. On June 11, Binance Thailand (TH) will list LUNC and USTC on their platform, opening the Thailand market to LUNC investors and potentially increasing trading volume, which may boost the asset’s price. The LUNC community plans to celebrate this listing with a special event.
Following this, on June 12, the SEC’s lawsuit against Terraform Labs (TFL) may conclude with a settlement, potentially causing price volatility and pushing LUNC’s price upward. This settlement will coincide with the FOMC meeting, where decisions on interest rate changes will be made. We expect these combined factors to significantly influence LUNC’s price this week.
Bottom Line
Terra Classic investors eagerly await June 12. A favorable court outcome could be bullish for LUNC, potentially leading to a price surge. However, other market factors, such as hawkish comments from FOMC officials, might undermine any positive effects from the court case.
Terra Classic investors anticipate an eventful week, with key events on June 11 and June 12 potentially impacting the asset’s price action. On June 11, Binance Thailand (TH) will list LUNC and USTC on their platform, opening the Thailand market to LUNC investors and potentially increasing trading volume, which may boost the asset’s price. The LUNC community plans to celebrate this listing with a special event.
Following this, on June 12, the SEC’s lawsuit against Terraform Labs (TFL) may conclude with a settlement, potentially causing price volatility and pushing LUNC’s price upward. This settlement will coincide with the FOMC meeting, where decisions on interest rate changes will be made. We expect these combined factors to significantly influence LUNC’s price this week.
Bottom Line
Terra Classic investors eagerly await June 12. A favorable court outcome could be bullish for LUNC, potentially leading to a price surge. However, other market factors, such as hawkish comments from FOMC officials, might undermine any positive effects from the court case.
LUNC Price: Understanding Terra Classic’s Bearish Case Ahead of SEC-TFL Settlement
LUNC Price: Terra Luna Classic's price has been struggling in recent days amid the ongoing crypto crash, but upcoming events could significantly impact its price action.
HIGHLIGHTS
Binance Thailand (TH) to list LUNC and USTC on their platform on June 11, 2024.
Terraform Labs (TFL) vs. SEC lawsuit settlement expected on June 12, 2024.
Terraform Labs court day coincides with the FOMC meeting.
LUNC Price: In a widespread market crash, Terra price plummeted by 19% in a single day on June 8, closing below a crucial market structure. This significant drop occurred just days before the TFL-SEC memorandum was submitted to the court.
The price of LUNC traded around $0.0001038 during European business hours on Tuesday, a 3.2% drop in 24 hours and a further 11.8% decrease in 7 days.
LUNC Price: Huge Week Ahead for Terra Classic May Wade Off Bears Onslaught
LUNC price has been in an ascending channel for the past 56 days. It recently broke downward from the channel in a 20% move following the market-wide crash instigated by Bitcoin. On a macro scale, LUNC has been in a gigantic descending triangle for the past 197 days and is approaching the end of this market structure. The overall market sentiment is ‘Uncertainty’ as the FOMC meeting looms closer. Terra Classic price retested the lower boundary of the channel and is currently headed downward.
LUNC price is also trending below the 50-day and 200-day simple moving averages (SMA), which is bearish for the asset. The Fibonacci indicator shows that Terra’s price may experience a further downside to $0.00009320. However, this price level also sports strong support spanning several months.
LUNC may witness a flurry of buys at this level, as it is a major psychological buy zone reflecting previous lows during the past months. On the journey to the upside, LUNC price may experience some resistance around $0.0001221, $0.0001360, and $0.0001471.
LUNC Price: Terra Luna Classic's price has been struggling in recent days amid the ongoing crypto crash, but upcoming events could significantly impact its price action.
HIGHLIGHTS
Binance Thailand (TH) to list LUNC and USTC on their platform on June 11, 2024.
Terraform Labs (TFL) vs. SEC lawsuit settlement expected on June 12, 2024.
Terraform Labs court day coincides with the FOMC meeting.
LUNC Price: In a widespread market crash, Terra price plummeted by 19% in a single day on June 8, closing below a crucial market structure. This significant drop occurred just days before the TFL-SEC memorandum was submitted to the court.
The price of LUNC traded around $0.0001038 during European business hours on Tuesday, a 3.2% drop in 24 hours and a further 11.8% decrease in 7 days.
LUNC Price: Huge Week Ahead for Terra Classic May Wade Off Bears Onslaught
LUNC price has been in an ascending channel for the past 56 days. It recently broke downward from the channel in a 20% move following the market-wide crash instigated by Bitcoin. On a macro scale, LUNC has been in a gigantic descending triangle for the past 197 days and is approaching the end of this market structure. The overall market sentiment is ‘Uncertainty’ as the FOMC meeting looms closer. Terra Classic price retested the lower boundary of the channel and is currently headed downward.
LUNC price is also trending below the 50-day and 200-day simple moving averages (SMA), which is bearish for the asset. The Fibonacci indicator shows that Terra’s price may experience a further downside to $0.00009320. However, this price level also sports strong support spanning several months.
LUNC may witness a flurry of buys at this level, as it is a major psychological buy zone reflecting previous lows during the past months. On the journey to the upside, LUNC price may experience some resistance around $0.0001221, $0.0001360, and $0.0001471.
Microsoft Partners G42 Enabling UAE Collaboration With OpenAI
Microsoft's collaboration with G42 paves the way for UAE's integration with OpenAI, bolstering the nation's AI capabilities and fostering innovation.
HIGHLIGHTS
Microsoft partners with G42, enabling UAE's collaboration with OpenAI to advance AI capabilities.
The alliance aims to drive innovation across sectors like healthcare and finance.
A $1 billion fund will support AI skill development in the UAE and neighboring regions.
In a move that underscores the growing influence of artificial intelligence (AI), Microsoft has entered into a partnership with UAE-based G42, a prominent AI and cloud computing company. This agreement, which follows Microsoft’s $1.5 billion investment in G42 announced in April, will enable the UAE to work closely with OpenAI, the renowned creator of ChatGPT.
Notably, the collaboration aims to advance AI capabilities and foster innovation within the UAE, positioning the nation as a regional leader in the AI space.
Microsoft's collaboration with G42 paves the way for UAE's integration with OpenAI, bolstering the nation's AI capabilities and fostering innovation.
HIGHLIGHTS
Microsoft partners with G42, enabling UAE's collaboration with OpenAI to advance AI capabilities.
The alliance aims to drive innovation across sectors like healthcare and finance.
A $1 billion fund will support AI skill development in the UAE and neighboring regions.
In a move that underscores the growing influence of artificial intelligence (AI), Microsoft has entered into a partnership with UAE-based G42, a prominent AI and cloud computing company. This agreement, which follows Microsoft’s $1.5 billion investment in G42 announced in April, will enable the UAE to work closely with OpenAI, the renowned creator of ChatGPT.
Notably, the collaboration aims to advance AI capabilities and foster innovation within the UAE, positioning the nation as a regional leader in the AI space.
Just In: Elon Musk Threatens to Ban Apple Devices at His Firms
Elon Musk plans to ban Apple devices at his companies, citing security risks from Apple's integration of OpenAI's ChatGPT into Siri.
HIGHLIGHTS
Elon Musk announces a ban on Apple devices at his companies due to security concerns.
The ban is a response to Apple integrating OpenAI's technology into Siri.
Musk's decision underscores ongoing tensions with Apple and OpenAI.
In a statement on X, formerly Twitter, Elon Musk declared plans to ban Apple devices from his companies. Musk has expressed security fears regarding Apple’s recent incorporation of OpenAI’s software into its systems. This move has fueled already strained relations between Musk and the tech giant, particularly given that Apple has chosen to integrate ChatGPT into Siri.
Elon Musk plans to ban Apple devices at his companies, citing security risks from Apple's integration of OpenAI's ChatGPT into Siri.
HIGHLIGHTS
Elon Musk announces a ban on Apple devices at his companies due to security concerns.
The ban is a response to Apple integrating OpenAI's technology into Siri.
Musk's decision underscores ongoing tensions with Apple and OpenAI.
In a statement on X, formerly Twitter, Elon Musk declared plans to ban Apple devices from his companies. Musk has expressed security fears regarding Apple’s recent incorporation of OpenAI’s software into its systems. This move has fueled already strained relations between Musk and the tech giant, particularly given that Apple has chosen to integrate ChatGPT into Siri.
LUNC Price Awaits Another Push
LUNC price trading 0.70% down in the last 24 hours despite an uptick, with the price at $0.0001068. The 24-hour low and high are $0.0001052 and $0.0001093, respectively. Moreover, trading volume decreased slightly in the last 24 hours.
However, derivatives trading data indicates buying in the last few hours as traders analyze markets before the FOMC meeting.
Meanwhile, USTC price fell more than 1%, with the price changing hands at $0.02128. The 24-hour trading volume saw a 40% rise in the last 24 hours, indicating interest among traders.
LUNC price trading 0.70% down in the last 24 hours despite an uptick, with the price at $0.0001068. The 24-hour low and high are $0.0001052 and $0.0001093, respectively. Moreover, trading volume decreased slightly in the last 24 hours.
However, derivatives trading data indicates buying in the last few hours as traders analyze markets before the FOMC meeting.
Meanwhile, USTC price fell more than 1%, with the price changing hands at $0.02128. The 24-hour trading volume saw a 40% rise in the last 24 hours, indicating interest among traders.
Terra Luna Classic Disburse 256 Million to Genuine Labs
Genuine Labs has successfully received more than 256 million LUNC worth $30,000. The Terra Luna Classic community passed proposal 12113 “Genuine Labs’s Community Spend Proposal” after checking and considering the latest tasks including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
Genuine Labs has successfully provided Security Upgrade Packages in the Terra Classic v3.0.1 upgrade. It also offered improvements including fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain.
The proposal received overwhelming support from the community. It recorded 99.93% votes in favor from the community members and validators. All 46 validators including Allnodes, Interstellar Lounge, Interstake One, and others who participated have voted in favor of the community pool spend proposal.
The Terra Luna Classic community currently has 5.23 billion LUNC after the disbursement of 256 million LUNC to Genuine Labs.
Genuine Labs has successfully received more than 256 million LUNC worth $30,000. The Terra Luna Classic community passed proposal 12113 “Genuine Labs’s Community Spend Proposal” after checking and considering the latest tasks including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
Genuine Labs has successfully provided Security Upgrade Packages in the Terra Classic v3.0.1 upgrade. It also offered improvements including fixing dyncomm decorator and handling p2p storm attacks on the Terra Luna Classic chain.
The proposal received overwhelming support from the community. It recorded 99.93% votes in favor from the community members and validators. All 46 validators including Allnodes, Interstellar Lounge, Interstake One, and others who participated have voted in favor of the community pool spend proposal.
The Terra Luna Classic community currently has 5.23 billion LUNC after the disbursement of 256 million LUNC to Genuine Labs.
Terra Luna Classic Community Approves 256 Million LUNC Community Pool Spend
Terra Luna Classic community moves 256 million LUNC tokens from community pool to Genuine Labs for development works.
HIGHLIGHTS
Terra Luna Classic community unanimously passed a spend proposal by Genuine Labs developer group.
Genuine Labs has received over 256 million LUNC tokens from community pool.
LUNC and USTC prices fell under support.
Terra Luna Classic community has passed a proposal by Genuine Labs developer group to disburse payment for development work in the last few months. The proposal represents tasks undertaken including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
Terra Luna Classic community moves 256 million LUNC tokens from community pool to Genuine Labs for development works.
HIGHLIGHTS
Terra Luna Classic community unanimously passed a spend proposal by Genuine Labs developer group.
Genuine Labs has received over 256 million LUNC tokens from community pool.
LUNC and USTC prices fell under support.
Terra Luna Classic community has passed a proposal by Genuine Labs developer group to disburse payment for development work in the last few months. The proposal represents tasks undertaken including upgrade Terra Classic core to sdk47, prevent p2p storms, and update relevant dependencies.
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