The Luna Foundation Guard may deploy its BTC reserve on-chain in a reserve mechanism.
The Terra (LUNA) price has risen by more than 5% in the last 24 hours.
A total of 2,830 BTC (about $133.5 million) have been added to Terra Foundation’s wallet to reach the $10 billion BTC milestone. In addition, WU Blockchain reports that OKLink has discovered the foundation’s Bitcoin wallet address, containing almost $1.3 billion worth of Bitcoin. There are currently 27,784.96 BTC in the account. The biggest cryptocurrency in the world is now trading at $47,000.
Do Kwon, Terraform Labs’ co-founder and CEO, revealed on March 14th that TerraUSD (UST) would amass $10 billion in bitcoin as reserves. As a result, he said the BTC standard would enter a new monetary age. As a result, Terra began to amass an enormous amount of Bitcoin. The Luna Foundation Guard may deploy its BTC reserve on-chain in a reserve mechanism that defends UST from downward pressure, as Terra has previously proposed, thanks to work done by Jump Crypto.
Numerous Transactions Detected
Luna Foundation Guard’s wallet address is now doing 9 transactions per day and up to 29 transactions per week, according to OKLink. In the meanwhile, 42 transactions had been completed as of this writing. However, the largest trading amount was 8,588 BTC. Terra seems to be following through on its vow to keep purchasing. Venture capitalists with interest in cryptocurrencies contributed about $1 billion. In addition, Terra’s CEO said that the company intends to acquire $3 billion worth of bitcoins (BTC) in the near term.
The Terra (LUNA) price has risen by more than 5% in the last 24 hours. At the time of this writing, the price of Luna was $95.10 USD. The coin’s 24-trading volume of $1,424,923,903 is also up by around 50%. With a market valuation of $33.8 billion, Luna is the ninth-largest cryptocurrency, according to CoinMarketCap.