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Is Terra (LUNA) Dead?



Is Terra (LUNA) Dead?

Think Terra LUNA is dead after the UST crash? Short it on ByBit! Still long? You can purchase LUNA on Gemini!

For the past several years, Terra has been building its name as a leader in the stablecoin space. Terra is a layer 1 blockchain built on Cosmos that specializes in stablecoin transactions. In late 2020, Terra unveiled its own algorithmic stablecoin, TerraUSD (UST). This stablecoin was supposed to always be worth $1.00. However, this stablecoin quickly lost the stability it was meant to have and fell drastically. Many are wondering if Terra’s UST failure is the beginning of the end for the project, or if there is still room for a recovery.

Why is Terra (LUNA) Down?

Terra is a blockchain protocol that hopes to increase the overall use of stablecoins in the open economy. Stablecoins are known for their anchored prices, a stark contrast from the extreme volatility seen with most cryptocurrencies. 

LUNA is the token that powers Terra’s protocol. Its main use is to provide liquidity for trades and keep the price of UST stable. Users can stake their tokens to provide liquidity for traders and earn rewards. This liquidity is also used by the Terra protocol to keep the price of UST at a constant $1.00. However, this system failed and allowed the price of UST to drop to $0.30. 

To keep the price of UST stable, Terra will either burn or mint LUNA tokens. Since LUNA is used to back UST, influencing the supply of it can be used to keep the price of UST constant, at least in theory. When the price of UST falls below $1.00, LUNA is created and UST is burned. This increases the amount of LUNA for every UST and raises the price of UST. Conversely, when UST rises above $1.00, LUNA is burned and UST is created. This decreases the amount of LUNA for every UST and lowers the price of UST.

While this idea should work in theory, the creators of the project were not prepared for the possibility of a massive selloff. 

For the first couple weeks of May 2022, a few large UST withdrawals were made. This sale of UST increased the supply and brought the price of UST down. When the price dipped slightly below $1.00, many became fearful and also sold. This brought the price down even further. In an attempt to combat this, Terra began burning UST and minting LUNA tokens. However, its system had a maximum amount of UST that could be burned. Once that limit was reached, the stablecoin began to freefall. 

In the case of LUNA, as UST fell, many also exited their LUNA positions. This is because UST is an integral part of Terra’s protocol, so its failure could mean bad things for LUNA. So, LUNA’s price began to fall due to the selloff of UST. However, LUNA’s supply was also increasing rapidly in an attempt to keep the price of UST steady. This further decreased the value of LUNA. 

In the last week, LUNA has fallen from nearly $90 to around $1.00. Investors holding LUNA lost almost the entirety of their position.


Terra (LUNA) Price Movements

For the second half of 2021, and up until the crash of UST, LUNA had been steadily rising. In fact, it appreciated over 1,000% from its lows in May 2021 to highs of nearly $120 in April 2022. This rise was due to the steady increase in demand for stablecoins and UST. LUNA was continually increasing until May 2022 when the price of UST crashed.

After UST began to fall, LUNA dropped over 95% in just one day. The fragility of the project was shown, and many exited their positions as more holes began to show. Additionally, the market capitalization fell from nearly $30 billion to just over $1 billion.

Cryptocurrency Market Cycle

One way the cryptocurrency market can be measured is by comparing Bitcoin to other tokens. If altcoins, or any tokens that are not Bitcoin, are outperforming Bitcoin, then it is deemed “altcoin season.” It is not currently altcoin season, meaning Bitcoin is outperforming at least 75% of the top 50 cryptocurrencies. In fact, Bitcoin is outperforming almost all other major tokens.

While Bitcoin is outperforming other tokens, this is a relative term. The crypto markets have been suffering for some time, with major tokens down upwards of 50% in the last few months. While this fall in prices may not be the direct cause of LUNA’s fall, it could certainly be an important factor.

Where To Buy Terra (LUNA)

1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to over 100 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For

  • New investors looking for a simple mobile and web app
  • Day traders looking to use technical analysis tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their cryptos


  • Easy and quick signups — can get started in as little as a 5 minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts


  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

Since Terra is a relatively large protocol, it can be bought on a variety of prominent exchanges, such as Coinbase Global Inc. (NASDAQ: COIN), FTX, Voyager and Gemini. These exchanges are known for their security, low fees, and overall ease of use.

To get started trading, register using an email and password. You will have to provide some basic personal information to verify your account. Then you can connect your bank account and begin trading.

Bonus: Keep an eye on the price of UST. If Terra can recover its stability, then they may be able to regain the trust of their users.

So, Is Terra (LUNA) Dead?

As of right now, the situation for Terra is pretty bleak. They lost a huge portion of their user base overnight. They were unable to keep the price of UST stable, even though they are known for their work with stablecoins. Overall, this event showed the complete fragility of the protocol. A relatively small selloff soon snowballed into an uncontrollable mess that the Terra creators are scrambling to fix.

In terms of the future, there are a couple cases for Terra. On a positive note, the price of UST could go back to $1.00 and regain its title as a stablecoin. This could attract more users and make the project relevant again. Conversely, the price could stay the same, at around $0.70, or fall lower. This would cause Terra to completely lose all trust and credibility with their user base. This would likely be the end for the project.


At the end of the day, a stablecoin’s worth comes from its ability to maintain a steady and constant price. If Terra can figure out a way to make this happen, they could be back on their way to being a top crypto project. If they cannot do this, then it could very well be dead. 


Dubai Couple Ties The Knot In The Metaverse



Dubai Couple Ties The Knot In The Metaverse

A Dubai based couple has decided to be wed in the metaverse after legal problems stemming from their nationalities initially forced them to tie the knot in Georgia in 2019. After the wedding, the couple said they will use their own experience to help others get married in the metaverse as well.

The Metaverse After Wedding Party

After encountering legal troubles registering their marriage, Florian Ughetto, a French national residing in Dubai and his fiancee, Liz Nunez, were reportedly planning to wed in the metaverse on May 19. The couple said the decision to tie the knot in the metaverse comes nearly three years after they got married in Georgia.

According to a report by the Blockchain Group, the couple’s wedding outfits were acquired via Opensea, a non-fungible token (NFT) marketplace. The report also said 20 of the couple’s closest friends would join them via the metaverse.

Explaining the steps that the couple will take exchanging vows, the report said the soon-to-be husband and wife would go to a location in the metaverse for the after-wedding party.

Metaverse Wedding Company

As per the report, the couple got married in Georgia in 2019 after they encountered problems registering their union locally due to their nationalities.

“That is one of the reasons why we chose to fly to Georgia to register our marriage,” the report quotes Ughetto explaining.

Meanwhile, the report said the couple has since established their wedding planning company that will specialize in virtual weddings. The couple hopes to use their metaverse wedding experience as a test run.

While the final cost of the ceremony has not been revealed, the report estimates this to be over $800 or DH3,000.


What are your thoughts on this story? Tell us what you think in the comments section below.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.


Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations



Cyprus Drafts Crypto Rules, May Introduce Them Before EU Regulations

Cyprus has prepared its own legislation to regulate crypto assets and is likely to adopt it before Europe finalizes a common regulatory framework, a government official has indicated. The authorities in Nicosia welcome the “careful” use of cryptocurrencies, he added.

Government of Cyprus to Submit ‘Attractive’ Crypto Bill

Cyprus has an “enviable position” in the EU when it comes to innovation, with the second-best progress last year, according to the European Innovation Scoreboard, the country’s Deputy Minister for Research, Innovation and Digital Policy Kyriacos Kokkinos stated at a meeting with the local fintech community. The event was devoted to digital assets, entrepreneurship and financial technology.

Commenting on the future of digital assets in Cyprus, including cryptocurrencies, the minister walked a fine line between embracing innovation and having to pay heed to laws, the Cyprus Mail wrote in a report on Thursday. Quoted by the English-language daily newspaper, Kokkinos elaborated:

I can tell you that Cyprus welcomes the use of digital and crypto assets, but we still need to be very careful and respect not only the regulations currently in place but also the absence of any regulations.

The government representative gave an example with Malta, the regulatory framework of witch attracted many crypto companies and investors but also led to increased scrutiny and investigations into some of its companies and banking institutions. “We have to be careful of the frameworks of the European Union since we are a member state,” Kokkinos emphasized.

The deputy minister then revealed that the Cyprus government has already drafted a “very attractive bill on crypto assets.” The legislation has been published and interested parties can review it, he pointed out. The executive power has also commissioned a New York-based firm to assist the island nation with the implementation of the regulations.

“Our challenge is not being aligned with the EU, it’s about the dilemma of whether to wait for the ECB to finalize their own regulatory framework or do we go alone on our own, with the former scenario also involving the possibility of that framework being overregulated,” Kyriacos Kokkinos remarked. “My answer is that we will go at it alone while respecting the rules,” he added.

The deputy minister acknowledged that certain challenges exist, including some disagreements between the government and the Central Bank of Cyprus (CBC). “We must remember that the CBC is subject to the ECB and central banks tend to be conservative, so our job is to challenge them through the debates we are having with them,” he told the audience at the event which took place in Larnaca.

Tags in this story

CBC, Central Bank, Crypto, crypto assets, Cryptocurrencies, Cryptocurrency, Cyprus, deputy minister, ECB, EU, European Union, Fintech, Government, innovations, legal framework, Regulation, Regulations, rules


Do you expect Cyprus to introduce crypto regulations before the European Union? Tell us in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.


Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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AVAX Hackathon

MetaOasis AVAX Hackathon News Report



MetaOasis AVAX Hackathon News Report

press release


MetaOasis Wins the Double in Hackathon Competitions

Three months ago, MetaOasis won the championship in Metaverse Alliance 2021 Global Metathon. Three months later, MetaOasis got the most votes and beat 112 competitors in the recent Avalanche Asia Hackathon. Therefore, MetaOasis will become the first project that wins the double in international hackathon competitions in the gamefi history.

What worth mentioning is that Avalanche Asia Hackathon set up an algorithm mechanism which can prevent repeated voting. That’s to say, all votes were from loyal supporters of the project, which makes the votes be of great value, and it also shows that MetaOasis deserve the championship by having the strength with strong and real user base.

Who is the Champion-MetaOasis?

MetaOasis is the next-generation game publishing platform linking Web2 and Web3. Meanwhile, MetaOasis will launch the first self-developed big game, making it the core to gather excellent game around the world into MetaOasis.


As the first gamefi that can provides players with a rich and interesting experience like traditional games, MetaOasis is confident that it will attract more traditional players into the platform. Moreover, a series of revolutionary initiatives within the platform will continue to help users and empower developers.

For Users: Low Threshold but More Fun

MetaOasis built a “buffer zone” for new users, especially for the traditional internet users to come into WEB3.0. Through the innovative “inter-linked account” mechanism, “buffer token” mechanism, and compatible with the traditional game IAP (In-App Purchase) channel, users can choose either quick registration to experience the platform first or immediate registration for blockchain wallet, which avoids traditional users’ excitement diminishing due to the learning difficulty and financial risks of entering the blockchain space, and enables users to enter the WEB3.0 world more smoothly.

MetaOasis used a professional game engine, and through the disclosed video, we can see the definition of MetaOasis’s frames is at a high level. Moreover, MetaOasis is built by a mature R&D game company with more than 100 employers and a blockchain technology team. Therefore, different from other gamefi which are not attractive enough, MetaOasis offers multiple ways for players to play: battle, construction, exploration, collection, mission, social, etc. For example, MetaOasis encourages players to participate in social activities as well as challenging others in the form of parties, or occupy other players’ lands, and eventually get the rewards! MetaOasis makes gamefi get back to game, and allows players to have fun.

For Developers: More Users, Stronger Empowerment

MetaOasis is not only a platform to create content for professional R&D teams, but also a series of strong empowerment by offering instruction of gamefi change for researchers and developers.

NFT Interoperation

MetaOasis changed the situation that different gamefi NFTs are unable to inter-operate with each other with a well-designed solution MNP30(MetaOasis NFTs Protocol, as shown below) for the industry. In a few words, it allows users to accumulate and interoperate their NFTs owning in different games of the platform or other achievements by building a set of exchange standards and protocols, and this will lower the threshold of repeated user investment to a certain extent and also make the value of user accumulation more sustainable.

SDK for Multiple Platforms and Development Tools


High-qualified content is the key to attract users, therefore MetaOasis hopes that developers focus on applications or games, and provide a series of SDKs for developers to deploy mechanisms without too much effort. Moreover, the SDK is suitable for a variety of platforms and development tools, which means that whether it is a project for WebGL or a traditional game developed by Unreal or unity, it can all be covered. At the same time, based on open digital identity and home, MetaOasis will also offer some development tools to users, allowing all users participate in UCG development.

Sharing the Platform Ecosystem

Content-creators can share the advantages of the platform ecosystem in community traffic, marketing, technology resource, etc, making their works being more likely to be approved in the market. Those contents approved by most people will be shown in the MetaOasis metaverse in the form of special stars, building a game world which keeps developing and changing, together with mainverse games.

Overall, MetaOasis has shown the potential to truly become a next-generation game publishing platform, giving us a glimpse of the new development direction and prosperity of the gamefi ecosystem. Meanwhile, Project CH, the first core project of MetaOasis, has also revealed a large number of milestone achievements with high degree of completion and complexity, which gives us every reason to expect that an epoch-making project will come out soon.

About MetaOasis

MetaOasis is the next-generation game publishing platform linking Web2 and Web3. MetaOasis reduces the entry threshold of Web2 users by building the infrastructure of Web2 and Web3 integration and also provides a series of tools for Web3 game developers to solve user login and payment problems. Allow developers to focus on making products.

Meanwhile, MetaOasis will release the main universe game that meets the game’s specifications as well: Project: CH, and self-developed ecological games such as “Puzzle Game” and “Embassy Planet” are already online.


Official Website:

Twitter: @Metaoasis_







This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release. Media is the premier source for everything crypto-related. Contact to talk about press releases, sponsored posts, podcasts and other options.


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