$ 37,853.42
$ 2,764.82
$ 1.00
$ 0.77128
$ 0.596295
$ 0.999999
$ 79.79

The Supply of Luna Tokens Rises by Roughly 24 Billion

The Circulating Supply of Luna Has Risen By Billions

The event of the breakdown of the TerraUSD (UST) peg seems to have a significant impact on Luna. In this case, Luna is affected because it is the native token of the Terra blockchain.

According to the data, Luna’s supply has reached 25 billion, while it is facing an exponential level of minting.

Looking at the supply of Luna, for the last weeks, its supply was around 325 million Luna. Meanwhile, on Wednesday it reached up to 1.5 billion. As of today, the number rose to 25.3 billion. These statistics show a high increase from the previous day and it is still continuing to rise.

Furthermore, it seems like there is a factor affecting the two tokens. In a thorough analysis, we can see that a behavioral cycle is a key influencer in UST losing its peg. Also, this behavioral cycle is pushing forward a massive amount of selling. In order to help the stablecoin keep its peg to the US dollar, traders are exchanging UST for Luna. This situation is resulting in chaos because of the high level of Luna minting, while its price is decreasing.

Luna’s Price Drop

It is worth mentioning that the token prices are falling as Luna’s supply continues to grow at an alarming rate. Luna’s current market value is just $0.005 compared to $80 six days ago. This makes it a drastic decrease.

Moreover, a lot of Luna holders are affected by this price downturn. Additionally, YouTuber KSI noted that his $3 million worth of Luna is now worth only $100.

Given all the above points, the holders are facing difficulties to sell tokens because they were being staked. However, they will be able to get back to selling in the next three weeks. Yesterday, Luna’s blockchain has officially halted working; this may be the end of the Luna project.

Also read:

Related News

A revealing finding of legal documents could shed more light on what caused the dramatic Terra (LUNA) and TerraUSD (UST) price collapse.

Suspicions Rise as Documents Surface Showing that Do Kwon dissolved Terraform Labs Korea days prior to the collapse of LUNA

A revealing finding of legal documents could shed more light on what caused the dramatic Terra (LUNA) and TerraUSD (UST) price collapse. Legal documents disclose the dissolution of two South Korean branches and the liquidation of the Terraform Labs Korea firm in the days leading up to the cryptocurrency collapse, which has been dubbed the “Lehman Brothers of crypto” by a number of people. According to information collected from the

Read More »
Preston Van Loon, an Ethereum (ETH) core developer, said at a discussion at the Permissionless conference that The Merge might happen in August of 2022.

Ethereum 2.0 to be Completed in August Says Vitalik Buterin

The Merge will be finalized in August, according to Vitalik Buterin and several key Ethereum developers A most coveted event in the 7-year existence of Ethereum (ETH), according to the project’s co-founder, Vitalik Buterin, and several key Ethereum (ETH) developers, might happen in the coming months. This must execute before the network is slowed by the difficulty bomb process.  Preston Van Loon, an Ethereum (ETH) core developer, said at a

Read More »
The native currency of Revolut will not be a stablecoin but it does have an aim to make loyalty tradeable, said the CEO.

Revolut CEO Says Future Native Token to Reward Loyalty of Users

CEO Nik Storonsky revealed in an interview that Revolut’s proposed native cryptocurrency will attempt to award clients for their loyalty, as well as specifics on the upcoming non-custodial wallet of the neobank. At the Finance FWD conference in Hamburg Storonsky said that the long-rumored currency, supposedly called “Revcoin”  will work similarly to airline Air Miles programs, wherein users receive benefits according to how frequently they use the services provided. The

Read More »

My Coins

$ 37,853.421.33%
$ 2,764.821%
$ 0.771281.68%
$ 1.000%
$ 79.791.45%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: