Luna Foundation Is Said To Have Deposited $1.1 Billion In Bitcoins In This Bitcoin Address

The foundation behind the Luna Foundation project reportedly deposited $1.1 billion worth of BTC to another anonymous address ending in 50tv4q, as WuBlockchain reports.

Luna Foundation announced that it raised $2.2 billion for its Bitcoin reserves

If the wallet is actually owned by the foundation, it already contains 50% of the collected funds. It is not yet clear if the other portion of the funds is going to be transferred to the same wallet or another address.

The founder of Terra (LUNA) has revealed that the Luna Foundation Guard successfully raised $2.2 billion to create a separate Bitcoin reserve for the UST stablecoin behind the network. The $1 billion was raised through a private sale round.

The foundation’s plan to purchase a large amount of BTC at the pace of $125 million per day. The total volume of purchased funds is not being disclosed, but it will most likely be close to $2.2 billion.

Supposedly, markets have reacted positively to such a tendency as the price of the first cryptocurrency rallied to $45,000 and reached the strong resistance line of the ascending range, in which BTC remained for more than a month.

At press time, Bitcoin trades at $44,575 and yet cannot break through, which indicates that there is not enough buying power to push the cryptocurrency out of the range. According to the volume indicator, the weekend’s volume, unfortunately, is significantly lower than the average trading volume during the week.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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