Where is Terra‘s (LUNA) Massive Bitcoin Reserve?
The deleted Terra (LUNA) blockchain disappeared as a result of the transfer of $ 3.5 billion worth of Bitcoin. Otherwise, the reserve was intended to be useful in just such catastrophic events. Blockchain forensics firm Elliptic is working on analytics tools to track Bitcoins moved after the crash.
Tracking Terra’s Huge Bitcoin Reserve
Speculations regarding the mysterious transfer of Terra’s massive Bitcoin reserve remain unexplained. LUNAtics is awaiting Terra Labs’ post-mortem report on last week’s shocking incident. The rest of the market watchers are trying to investigate the whereabouts of the untraceable Terra blockchain.
The rest of the Bitcoins were moved to an account on the Binance exchange the next day. It is not yet clear whether the Bitcoins have been sold or moved. For those seeking compensation for losses, it may be vital to learn the truth of the approximately 80,000 BTC currently untraceable.
Will Terra (LUNA) price bounce back?
The past week hasn’t been exciting for LUNAtics. The price decline continued to hover around 50% in the last 24 hours. Luna owners may not see visible green candles in the near future. In addition to worried investors who suffered huge losses, developers who continue to develop applications on the blockchain were also hit hard. Although there has been a heavy decline, Terra does not seem to have killed crypto yet.
But this was definitely a close call for stablecoins. As proof of this, the market has seen a positive recovery in Bitcoin, Binance Coin, Ethereum and other cryptocurrencies. On Friday, the total crypto market cap was estimated at $1.3 Trillion. The current market capitalization of Terra (LUNA) near midnight on Sunday was recorded at INR 1.41 billion.
Major Indian crypto platforms Coinswitch Kuber, Coins DCX and Wazir X followed this trend by delisting Terra (Luna) and UST Stablecoin. The suspension is a measure against the platforms.
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I’m Sthuthie, a crypto journalist and social media manager. In addition to writing, I design, edit and create content for various social media platforms. I love exploring and learning every day.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. Neither the author nor the publication accepts any liability for your personal financial loss.
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