Whales Snatched 42 Million Terra (UST).

During the previous 24 hours, the top ETH whales have acquired over 42 million Terra (UST) according to WhaleStats statistics.

Whales Snatched 42 Million Terra (UST).

A whale is somebody who possesses a significant amount of cryptocurrency or is otherwise a large holder. Terra USD, or UST, is the Terra blockchain’s decentralized and algorithmic stablecoin.

The 42 million UST were acquired in four huge transactions, according to whale tracking firm WhaleStats over the previous four hours.

The transactions involved the purchase of 15,000,000 UST or $15,060,000, followed by the purchase of 9,000,000 UST or $9,036,000, and finally the purchase of 10,000,000 UST or $10,040,000 by an ETH whale. In the fourth transaction, an ETH whale spent $8,032,000 buying 8,000,000 UST.

Large investors prefer to turn their focus to less volatile crypto-assets such as stablecoins during moments of volatility and macro falls in the cryptocurrency market.

Terra

Terra’s native dollar-pegged stablecoin, UST, is kept stable through a swap mechanism, which allows traders to sell 1 UST for $1 worth of LUNA at any time.

Increased stability may lead to higher demand for UST, lowering LUNA supplies. Because the production of UST is aided by the burning of LUNA, the fortunes of LUNA are closely connected to those of UST. To put it another way, in order to mint one UST, one LUNA must be removed from circulation.

According to data tracking website CoinMarketCap, the market value of UST has increased drastically to $14.7 billion, making the dollar-pegged digital currency the world’s fourth-largest stablecoin. Meanwhile, Terra’s LUNA has gradually increased in market value to become the seventh-largest cryptocurrency, valued at $91.65 at the time of publication.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Patrick

CoinCu News

Victor

Recent Posts

Best New Meme Coins to Join for 2025: BTFD Coin Leads, Popcat Keeps It Purr-fect, and Non-Playable Coin Hits Gamers Hard

Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…

1 hour ago

Solana memecoins crash while DTX Exchange hits 100,000 TPS on layer-1 blockchain

Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…

2 hours ago

Strategic Bitcoin Reserve Expected to Cut 35% of US National Debt by 2049

VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…

2 hours ago

The New Lead of Presidential Crypto Council Appointed by Trump Is Bo Hines

President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.

2 hours ago

Best New Meme Coins with 1000X Potential: BTFD Coin’s Hot BIG50 Discount As Baby Doge Coin, Dogs Takes Gaming to the Next Level

Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…

3 hours ago

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

5 hours ago

This website uses cookies.