Terra (LUNA) Purchases $100,000,000 in Bitcoin (BTC) As TerraUSD Launches on Crypto Trade Binance – The Day by day Hodl

Advertisements

Ethereum challenger Terra (LUNA) continues to build up its Bitcoin (BTC) reserves as the world’s largest crypto exchange Binance adds support for its stablecoin, TerraUSD (UST).

Terraform Labs CEO Do Kwon took to Twitter to tell his 357,000 followers that the Luna Foundation Guard (LFG) has purchased $100,000,000 more worth of the leading digital asset.

“[Luna Foundation Guard] bought an additional $100 million worth of BTC for UST FX [foreign exchange] reserve.”

Previously, Kwon had said that Terra plans to buy up a staggering $10 billion worth of the top crypto asset by market cap in order to back UST, its native dollar-pegged stablecoin. The most recent purchase brings LFG’s total value of Bitcoin held in its reserves to $1.72 billion.

As the stablecoin issuer continues to snap up BTC en route to its goal, leading crypto exchange platform Binance recently announced it would be adding support for UST.

Investors can buy and swap UST in the UST/USD and UST/USDT (Tether) pairs, according to Binance.

More recently, Terraform Labs just issued a statement that they have gifted 10 million LUNA tokens to the LFG, bringing its total reserves of LUNA to about $190 million. LFG’s total reserve balance now sits at $2.46 billion, 70% of which is comprised of king crypto Bitcoin.

Bitcoin is changing hands at $40,435 at time of writing, a 7.8% drop from its seven-day high of $43,879 while LUNA is moving for $83.80, a 21% dip during the same timeframe.

Check price action

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/FlashMovie/Konstantin Faraktinov


Share post on

Sonic BTC is reader-supported. When you buy through links on our site, we may earn an affiliate commission.

Crypto Flipsider Information – Crypto.com Suspends Withdrawals, Loses $15M, Binance’s Thai Alternate, $792M in BNB Burned, EIP-1559 Dwell on Polygon, Spain and Singapore Crypto Advert Ban, Bulgaria and UK Prime Crypto Holding by DailyCoin – Investing.com Binance

Crypto Flipsider Information – Crypto.com Suspends Withdrawals, Loses $15M, Binance’s Thai Alternate, $792M in BNB Burned, EIP-1559 Dwell on Polygon, Spain and Singapore Crypto Advert Ban, Bulgaria and UK Prime Crypto Holding by DailyCoin – Investing.com

Crypto Flipsider News – Crypto.com Suspends Withdrawals, Loses $15M, Binance's Thai Exchange, $792M in...

By wpadminsonic164
Larry Ellison, Binance and Sequoia back Elon Musk’s $44bn Twitter offered – Financial Times Binance

Larry Ellison, Binance and Sequoia back Elon Musk’s $44bn Twitter offered – Financial Times

Elon Musk has raised $7.14bn of funding for his $44bn buyout of Twitter from...

By wpadminsonic164
7 Rare Casino Games To Play With Binance Coin – Crypto Reporter Binance

7 Rare Casino Games To Play With Binance Coin – Crypto Reporter

New and innovative ways to pique customers' interests are always sought after by Binance...

By wpadminsonic164
Binance Coin Price Prediction: Alternative count proposes a retest of $250 – FXStreet Binance

Binance Coin Price Prediction: Alternative count proposes a retest of $250 – FXStreet

BNB price is losing bearish momentum. Binance coin price has extended impulse waves. Invalidation...

By wpadminsonic164
Binance Invests One other $5m in Metaverse Startup Final – Blockchain.Information Binance

Binance Invests One other $5m in Metaverse Startup Final – Blockchain.Information

Binance is putting in a fresh $5 million investment in metaverse gaming startup Ultiverse...

By wpadminsonic164
Binance USD (BUSD) Up 0.03% Tuesday: What’s Next? – Investors Observer Binance

Binance USD (BUSD) Up 0.03% Tuesday: What’s Next? – Investors Observer

Binance USD (BUSD) has been relatively less volatile than the crypto market according to...

By wpadminsonic164
Leverex gears up for Itemizing on top-20 exchanges together with Binance and Huobi – Crypto Reporter Binance

Leverex gears up for Itemizing on top-20 exchanges together with Binance and Huobi – Crypto Reporter

LEVEREX is a large exchange specializing in copy trading and system trading. There are...

By wpadminsonic164
Binance: Getting in on Elon Musk’s Twitter takeover was ‘too enormous to even consider missing’ – Yahoo Finance Binance

Binance: Getting in on Elon Musk’s Twitter takeover was ‘too enormous to even consider missing’ – Yahoo Finance

While Elon Musk's $44 billion acquisition of Twitter (TWTR) remains uncertain, cryptocurrency exchange Binance...

By wpadminsonic164

Latest Posts

Cardano Devs IOG Shared First Details of Third-Party Codebase Audit – U.Today Cardano

Cardano Devs IOG Shared First Details of Third-Party Codebase Audit – U.Today

Vladislav Sopov Input Output Global's peer-to-peer networking infrastructure underwent stress tests: engineers content Very...

By wpadminsonic164
5 Trillion Shiba Inu Selling | Luna Delisting | China & Bitcoin Videos

5 Trillion Shiba Inu Selling | Luna Delisting | China & Bitcoin

Hey Everyone Kaise hain aap Sab Telegram Channel - https://t.me/oyeeerahul1 Twitter - https://twitter.com/oyeee_rahul SIP...

By wpadminsonic164
Digital currency Prices Today May 19: Bitcoin drops, Ether stoops more than 4%; Polkadot greatest drag – Moneycontrol Polkadot

Digital currency Prices Today May 19: Bitcoin drops, Ether stoops more than 4%; Polkadot greatest drag – Moneycontrol

a,.special_wrapbx a{color:#333;font:400 11px Lato,sans-serif}.user_after_login a, .user_before_login a {color: #333333;font: 11px 'Lato',sans-serif;}.dropdown-menu{display:none;background-clip:border-box!important}.header_desktop .dropdown-menu>li{border-bottom:1px solid #e9e9e9}.header_desktop...

By wpadminsonic164
XLM Price Analysis: Bearish feeling yet to die down for Stellar – The Coin Republic Stellar

XLM Price Analysis: Bearish feeling yet to die down for Stellar – The Coin Republic

No result View All Result © Copyright 2022. The Coin Republic Are you sure...

By wpadminsonic164
Crypto Flipsider Information – Crypto.com Suspends Withdrawals, Loses $15M, Binance’s Thai Alternate, $792M in BNB Burned, EIP-1559 Dwell on Polygon, Spain and Singapore Crypto Advert Ban, Bulgaria and UK Prime Crypto Holding by DailyCoin – Investing.com Binance

Crypto Flipsider Information – Crypto.com Suspends Withdrawals, Loses $15M, Binance’s Thai Alternate, $792M in BNB Burned, EIP-1559 Dwell on Polygon, Spain and Singapore Crypto Advert Ban, Bulgaria and UK Prime Crypto Holding by DailyCoin – Investing.com

Crypto Flipsider News – Crypto.com Suspends Withdrawals, Loses $15M, Binance's Thai Exchange, $792M in...

By wpadminsonic164
Larry Ellison, Binance and Sequoia back Elon Musk’s $44bn Twitter offered – Financial Times Binance

Larry Ellison, Binance and Sequoia back Elon Musk’s $44bn Twitter offered – Financial Times

Elon Musk has raised $7.14bn of funding for his $44bn buyout of Twitter from...

By wpadminsonic164
New cryptocurrency race for the place of the Dogecoins – The 1000% positioned HUH token, the thetan enviornment and the magic token |  BTCMANAGER – BTCMANAGER Dogecoin

New cryptocurrency race for the place of the Dogecoins – The 1000% positioned HUH token, the thetan enviornment and the magic token | BTCMANAGER – BTCMANAGER

HUH token, Thetan Arena and Spell Token have proven to be hugely popular, although...

By wpadminsonic164
Cardano Whale Transactions Hit 4-Month High – The Coin Republic Cardano

Cardano Whale Transactions Hit 4-Month High – The Coin Republic

ADA Price at the time of writing – $0.5604It's market cap is down by...

By wpadminsonic164