A tweet by the vice prime minister of Ukraine Mykhailo Fedorov
Decentralised finance payment network Terra’s reserve currency Luna surged over 48.2% over the past 7-day period. The coin, which currently is the 8th largest cryptocurrency by market cap is trading at US$73.48 apiece, according to crypto ranking website CoinGecko.
This follows an earlier announcement made by Luna Foundation Guard (LFG) on Feb 22 that it had raised US$1 billion through an over-the-counter (OTC) sale of Luna, which will be used to establish a bitcoin-denominated forex reserve as an additional layer of security for UST, Terra’s decentralised stablecoin. LFG is a nonprofit organisation established to help develop the Terra ecosystem.
See also: The Trump family is going all-in on crypto projects, from Bitcoin mining to stablecoins
Chart: CoinGecko
Sotheby’s had cancelled its first dedicated live evening auction for non-fungible tokens (NFT) after the owner of the Punk It! collection decided to back out. On Feb 23, the day the auction was supposed to take place, Sotheby’s announced that the single-lot sale of 104 CryptoPunks will not proceed after discussions with the consignor.
See also: XRP to hit US$12.50 by end-2028: Standard Chartered
With a landmark estimate of up to US$30 million, Sotheby’s had previously stated that the sale marks the highest valued estimate for an NFT or digital art ever offered at auction.
Photo: Bloomberg
