Altcoin
Terra Classic Seeks Clarification From TFL CEO And eToro
Terra Classic community has asked Terraform Labs CEO Chris Amani and eToro for clarification on LUNC delisting on the platform. The move comes after eToro users faced difficulty in trading LUNC due to recent developments in Terraform Labs (TFL) bankruptcy proceedings. The community claims Do Kwon and TFL had cut ties with the Terra Classic after the 2022 Terra-Luna Crisis, eventually dropping support for the decentralized chain.
Terra Classic Community’s LUNC Delisting Concerns
Social investment network eToro has set tokens issued by Terraform Labs as close-only status, with 78 thousand LUNC holders reportedly unable to buy LUNC from eToro. It follows the recent Terraform Labs chapter 11 bankruptcy case developments. The platform has stopped trading all tokens issued by TFL as the beleaguered company reportedly told eToro that they also own LUNC.
This has raised concerns in the community as it also risks LUNC delisting by other crypto exchanges. The community needs clarification from Terra CEO Chris Amani and eToro on why LUNC is being delisted due to Terraform Labs
Chapter 11 bankruptcy.
Validators and popular community members such as VegasMorph and Mr. Diamondhandz said the Terra Classic chain is managed by the community. It is the only decentralized chain after TFL deferred ties with the chain, as earlier confirmed by Do Kwon and TFL. Infrastructure, updates, maintenance, and others are managed by the community through governance voting.
Also Read: Terra Crypto Loss Claims Set Recovery Path For LUNA, LUNC, USTC?
LUNC and USTC Price Action Amid Confusion
The LUNC delisting move by Toro and concerns in the community have not impacted the Terra Classic ecosystem prices. TFL will reopen Shuttle Bridge for the redemption of wrapped assets on Terra Classic and burn 150 million LUNA, with clarification on LUNC and USTC burn still unclear.
LUNC price jumped 2% in the last 24 hours, with the price currently trading at $0.00008699. The 24-hour low and high are $0.00008276 and $0.0000884, respectively. However, trading volume has dropped further by 12% in the last 24 hours.
Meanwhile, USTC price also climbed 5%, with the price now back above $0.020. The 24-hour low and high are $0.01874 and $0.02077, respectively. The trading volume saw a 66% jump over the last day amid the opening of TFL crypto loss claims.
Also Read: Leading Asset Manager CSOP Says Bitcoin To Hit $100K Soon
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.
Expert Reveals Time For XRP Price To Hit $27
In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.
Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.
In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.
In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.
Decision Time For The Altcoin
In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”
The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.
The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.
CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.
For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Hill Rejects Interest-Bearing Stablecoins Despite Armstrong’s Wish
How Did UPCX Lose $70 Million in a UPC Hack?
Ethereum Struggles to Break Out as Bear Trend Fades
XRP Price to $27? Expert Predicts Exact Timeline for the Next Massive Surge
Binance Megadrop Launches KernelDAO
Wintermute Sells ACT Tokens Due To Binance Limit Changes
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market23 hours agoCoinbase Tries to Resume Lawsuit Against the FDIC
-
Altcoin23 hours agoCharles Hoskinson Reveals How Cardano Will Boost Bitcoin’s Adoption
-
Market22 hours agoHedera (HBAR) Bears Dominate, HBAR Eyes Key $0.15 Level
-
Altcoin24 hours agoEthereum Bitcoin Ratio Drops to Record Low, What Next for ETH?
-
Market21 hours agoThis is Why PumpSwap Brings Pump.fun To the Next Level
-
Market20 hours agoCardano (ADA) Whales Hit 2-Year Low as Key Support Retested
-
Ethereum15 hours ago$2,300 Emerges As The Most Crucial Resistance
-
Market15 hours agoCFTC’s Crypto Market Overhaul Under New Chair Brian Quintenz
✓ Share: