Shop Sephari

Don’t miss CoinDesk’s Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12.
Traders of Terra’s LUNA tokens suffered some of their biggest weekly losses in recent months as prices fell 99.7% in a week, data shows.
The LUNA price fell 96% in the past 24 hours alone, pushing it to less than 10 cents. That’s down from about $60 earlier this week and a record $120 in mid-April.
A change in market dynamics caused LUNA prices to snap at a breakneck pace. LUNA plummeted through several support levels as terraUSD (UST), a Terra-issued stablecoin that’s meant to be priced 1:1 to the U.S. dollar, lost its peg.
The selling pressure on LUNA started over the weekend as investors liquidated their earnings on Anchor, a Terra protocol for earning yields on UST, pushing interest rates lower, analytics suggest.
That’s because of how algorithmic stablecoins like UST operate. One UST can be redeemed or minted for exactly $1 worth of LUNA at any time. In theory that helps UST retain its value and creates demand for both tokens.
Traders can continuously buy and sell LUNA and UST to maintain the peg and profit by doing so, incentivizing them to maintain UST’s peg.
This week’s drop in the UST price – it fell to as low as 22 cents Wednesday – caused additional LUNA to be minted and issued into the open market. According to Messari data, LUNA’s circulating supply more than tripled to 1.4 billion tokens on Thursday from 377 million two days ago.
The vastly increased supply added selling pressure on LUNA tokens, as the price drop shows. At the same time, it put UST on a path to recovery, with the tokens recovering to the 60 cents level in European morning hours on Thursday.
In addition, Terra proposed several measures on Thursday that would save UST’s peg and prevent LUNA from getting severely diluted.
The week’s slump in LUNA pushed it out of the top 10 cryptocurrencies by market capitalization to rank 81st this morning. The tokens were valued at just under $4 billion last week, while on Thursday the capitalization snapped down to $720 million.
Still, some market observers remain upbeat on the longer-term outlook of algorithmic stablecoins.
“It is still the earliest days of algorithmic stablecoins,” Brian Gallagher, co-founder of Partisia Blockchain, said in a Telegram message. “There will be many failures along the way to hold the peg, as they’re mostly in the experimental phase. We have to accept the failures along the path.”
Possible contagion risks, however, pushed tether (USDT), the biggest stablecoin by market capitalization, to lose its peg with U.S. dollars in European morning hours today.
Chris Zaccarelli of Independent Advisor Alliance knows what Tuesday's inflation print means for the Fed: “Not only are they going to end up causing a recession, but it is going to be a bad one."
Does the September share price for Geron Corporation ( NASDAQ:GERN ) reflect what it's really worth? Today, we will…
In this article, we discuss 10 Best Stocks to Buy Now According to Billionaire Bill Gates. You can skip our detailed analysis of the Bill & Melinda Gates Foundation, and go directly to 5 Best Stocks to Buy Now According to Billionaire Bill Gates. We all know Bill Gates, the tech billionaire and a famous […]
Today's video focuses on Advanced Micro Devices (NASDAQ: AMD), Intel (NASDAQ: INTC), Nvidia (NASDAQ: NVDA), Micron Technology (NASDAQ: MU), why some investors might be fearful for the upcoming months, and why I remain bullish on this industry.
Desperate times call for desperate measures, and this might be just such a time: Persistently high inflation might force the Federal Reserve to resort to the biggest increase in a key U.S. interest rate in more than 40 years.
Futures fell on a key inflation report — the producer price index — after Tuesday's stock market plunge on a hot CPI reading.
“A standard full-service broker-dealer typically charges anywhere between 1% and 2% in management fees, on top of any fund-specific expenses, trading fees and commissions,” explains certified financial planner Jay Abolofia of Lyon Financial Planning. If you like your bank, but want to pay less, open a line of communication with them.
“I think the biggest mistake right now is the belief we’re going to return to, essentially, prices similar to the pre-COVID,” Bridgewater Associates co-CIO Greg Jensen said on Monday.
At their lowest points through 1 p.m. ET on Tuesday, Plug Power (NASDAQ: PLUG) had shed 6.7%, Bloom Energy (NYSE: BE) 7.5%, and Hyzon Motors (NASDAQ: HYZN) 4.9%. Investors dumped these stocks after the latest economic data refueled fears of an economic slowdown that could force these companies to cut back on their plans. Although economists expected inflation in the U.S. to drop by 10 basis points in August versus July in what would have been the first signs of inflation cooling down, the latest data from the Bureau of Labor Statistics poured cold water on their hopes.
Net worth is a financial metric that can help you keep your individual picture of your finances in perspective. The average net worth by age, in this case, refers to the net worth of the households in the U.S. divided … Continue reading → The post Average Net Worth by Age appeared first on SmartAsset Blog.
According to the latest CPI (consumer-price index) report, U.S. inflation cooled down slightly from July but not enough to appease the markets. Overall prices rose by 8.3% from the same period a year ago, slowing down from July’s 8.5% uptick and further down from June’s 40-year high showing of 9.1%. On a monthly basis, after plateauing in July, consumer prices rose by 0.1%. As the expectation was for a rise of 8.1% over last year and a drop of 0.1% compared to last month, the markets did what th
It's time to be extra picky.
Investors are still making two assumptions about the economy that are unlikely to be proven correct.
Market watchers will be focusing on not only what the August PPI report has to say vs. the consensus forecast but how it stacks up against July's.
The iconic investor who was the first to call the imminent collapse of the subprime market is attacking the Wall Street giant.
Most stocks are having a lousy year in 2022. Here are a dozen that don't deserve being this deep in the red.
In this article, we will look at Jim Cramer’s top 5 LNG stock picks for the “long haul”. If you want to skip reading about why the LNG market is becoming a lucrative investment opportunity right now, you can go directly to Jim Cramer Recommends These 2 LNG Stocks for the “Long Haul”. Europe’s Energy […]
Shares of Medical Properties Trust (NYSE: MPW) have been under a lot of pressure this year. The real estate investment trust's (REIT) stock has lost a third of its value due in part to rising interest rates. While the market has concerns about the REIT's ability to continue growing its portfolio and dividend, it recently took a big step to address those worries.
Star stock picker Cathie Wood of Ark Invest cautioned that the Federal Reserve is making a mistake with its widely-expected interest rate hikes to bring down high inflation and said she is more concerned about deflation. The benchmark S&P 500 fell more than 2% and Treasury yields surged Tuesday after data showed consumer prices did not ease as anticipated in August and price pressures appeared to broaden. Markets are now anticipating a 100% probability the Fed raises benchmark interest rates at least 75 basis points at its meeting that concludes Sept. 21.
It should be obvious that billionaires don’t accumulate wealth by accident. Their success is predicated on observation and savvy investment, and a privileged background helps. Billionaires like Microsoft Corp. co-founder Bill Gates likely saw an opportunity for land investment to return tenfold, by way of food shortages, well ahead of time. So it should be no surprise that the real estate investing platform Arrived Homes, backed by Amazon.com Inc. founder Jeff Bezos is taking off. He had the for

source

Shop Sephari

Leave a Reply