Bitcoin (BTC) is still in negative territory after a crisis in the cryptocurrency process Terra (LUNA); understand the result

Even with the return of bags overseas Tuesday (10), market for cryptocurrencies still in the negative field, amplifying the loss of the previous session. LUB bitcoin (BTC) up to US $ 30,000, but try to support himself at US $ 31,000 today.

Relations with New York indices were not enough to improve the performance of cryptocurrencies in the last few hours. The main responsibility for this is Terra Networknet (blockchain) of two of the ten largest digital giants in the world.

Check out their performance this Tuesday:

# Name Price 24 hours% 7d%
1 Bitcoin (BTC) US $ 31,729.51 -3.83% -17.58%
two Ethereum (ETH) US $ 2,405.42 0.25% -15.35%
3 Tether (USDT) US $ 0.9998 -0.01% -0.02%
4 IB (BNB) US $ 325.69 -1.73% -15.99%
5 USD Coins (USDC) US $ 1.00 0.02% -0.03%
6 XRP (XRP) US $ 0.5266 -1.58% -14.98%
7 Solana (SOL) 71.83 It -0.51% -18.59%
8 Cardano (ADA) US $ 0.6797 2.33% -14.51%
9 Binance USD (BUSD) US $ 0.9995 -0.07% -0.12%
10 EarthUSD (UST) 0.9243 It -7.24% -7.53%
Source: Coin MarketCap

Check the function of ETFs cryptocurrency on Brazilian stock exchange:

form the leader Price Exchange rate (24h%) Exchange rate (7d%)
HOUSE 11 hashdex BRL 29.00 It -13.17% -14.40%
ETH 11 hashdex SIB 34.53 -15.57% -15.06%
IB 11 hashdex PAB 37.92 -12.91% -17.37%
DEFI 11 hashdex PAB 27.58 -18.18% -17.79%
WEB 311 hashdex PAB 29.14 -20.21% -16.29%
QBTC 11 QR investment PAB 10.08 -11.81% -14.29%
HOLE 11 QR investment PAB 8.38 -15.69% -15.69%
QDFI 11 QR investment PAB 4.97 -17.30% -12.96%
NWS 11 capital PAB 43.50 -12.98% -20.91%
Source: Google Finance

Bitcoin: in collision with the world

Contrary to popular belief, this time it’s not the price of bitcoin that affects it altcoinsother cryptocurrencies for BTC – it is just the opposite.

It all starts with the blockchain da Terra, is one of the best companies and has received a lot of investment from big companies to grow.

Aiming to cross the world of virtual payments, developers are creating EarthUSD (UST)a stabilitycoin com ballast inside dollar. You can read more about what LUNA does here and clear your grievances about fixed coins in this article.

How does TerraNet work?

Among other things, the Terra Network protocol – a wider network, which includes other functions – allows the transfer of capital from LUNA cryptocurrency to blockchain of UST.

This is a vision to grow TerraUSD network and get the position of the top ten most profitable companies in the industry, beyond projects such as Avalanche (AVAX), Polkadot (DOT) and even itself World (MOON).

However, the cryptocurrency network operates on the basis of competition from resources derived from other digital resources. Smart contract (smart contract) which keeps the quotes stable is programmed to work in certain situations.

Red wave of cryptocurrencies

But we are not in the best position of the temperature in the industry.

With the uncertainty ahead and investors upgrading their operations in cryptocurrencies, the digital asset market has plummeted, leading to the Terra (LUNA) protocol – and thus TerraUSD. .

So, the stabilitycoin – which should be worth US $ 1 of its equivalent in dollars – to fall to US $ 0.76, which affects the confidence of investors in the whole process.

This has injected a lot of uncertainty to investors, which expands on cryptocurrency sales and further bearish terms. However, the relationship with bitcoin did not stop there.

Another shot at the foot of bitcoin

The developers of Terra Network also announced yesterday (09) the purchase of US $ 3.5 billion in BTC to be used as an emergency for the process. The goal is to make the project even more decentralized and less correlated with dollar.

The announcement was made around 9 a.m., while BTC was still valued at around $ 36,000. Overnight, the world’s largest cryptocurrency fell to $ 31,000, down 13% – from $ 3.5 billion to $ 3,045 billion.

Although Terra developer Do Kwon warned the market that bitcoins could only be used as a form of “emergency breeding”, the information was leaked via crypto social media and sparked speculation. wide of traders.

And there is more

With the departure of investors through the stabilitycoin TerraUSD, the Luna Foundation Guard, the company responsible for the cryptocurrency ecosystem, has sold more than 42,000 bitcoins – about $ 1.3 billion.

This resulted in higher sales for BTC and the market has been in the red since.

Crypto Talk # 018 – Explain What is Web 3.0

Be sure to check the facts Crypto Tham with Luiz Octavio Gonçalves Neto, founder and CEO of startup DUX:

By the way, an invitation: we share to our Instagram a list of habits and emotions that can make you unsure when it comes to money. you can check click here or in the post below. Take the time to be where we are (in this link).

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