The crypto market had a dynamic week in which Bitcoin was weighed on the beat tone and Ethereum saw sophisticated corrections. ApeCoin was the worst percentage in the last seven trading sessions. Terra has returned with the Terra Classic and a new coin, the Terra LUNA, in a bid to save many investors from the tragedy that has befallen the poor.
According to CoinMarketCap, the global crypto market is worth $ 1.22 trillion – an increase of 1.50% compared to the previous day. Meanwhile, the total has reached $ 50.89 billion, down 29.85% in the last 24 hours.
DeFi’s total volume is currently $ 5.01B, accounting for 9.84% of the 24-hour total of the crypto market. The total value of all stable coins is currently $ 43.13B, which is 84.74% of the total 24-hour trading volume of the crypto market.
Bitcoin is currently trading at 0.73% at $ 29,343.59. The coin hit a daily high of $ 29,415.12. The market cap was $ 560 billion.
Ether traded at 1.87.97 at 1.07%. It has a market value of $ 219.14 billion. Ether is the second largest cryptocurrency after Bitcoin – had a difficult week.
Bitcoin has declined by 2.4% in the last seven days, while Ether’s weekly decline is around 10.5% today.
Over the past seven sessions, ApeCoin has been one of the most hit coins with nearly 22%. STEPN, NEM, and Elrond plunged to about 21% each week, with waves rising by more than 25%.
Teraform Labs launched its new blockchain on May 28. The first Terra chain was renamed the Terra Classic, and a new chain was created under the name Terra and has been used for commercial purposes since Saturday. LUNA is becoming increasingly volatile due to previous chain disruptions.
Under the redesigned Terra Classic, the main cosmos chain still operates, however, the mint / burn function is disabled. In addition, all balances remain the same. Luna Luna has become a classic (LUNC). Terra stablecoins (UST, KRT, EUT, etc.) are also named Terra Classic stablecoins (USTC, KRTC, EUTC, etc.).
In addition, the new chain Terra has taken over all of Terra branding assets. Terra in particular is a cosmos chain, but it does not have a core chain store, word or market modules. The native mine of the new chain is called Luna. Terra stablecoins (UST, KRT, EUT, etc.) will not be included in the new chain.
Terra Classic is currently down 14.05 percent at $ 0.00008421. Meanwhile, the Terra LUNA is down 1.85% to $ 5.71. On Saturday, LUNA hit the record high of $ 19.54.