#btc #eth #wsm Tokens associated with the Terra ecosystem have seen multiple growth over the past few weeks
Over the past 24 hours, the price of Bitcoin (BTC) has increased by almost 12% and at 17:30 Moscow time is approximately $41,500. Thus, the BTC rate has returned to the levels that were last observed before the collapse of the Luna (LUNA) project and the associated stablecoin TerraUSD (UST) in spring 2022.
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BAT/USD 00:37
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41 781 5,32%

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QTM/USD 12.04
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0,99918 -0,06%
Cryptocurrency, 04 Dec, 17:29 1,441 
Bitcoin has fully recovered after the TerraUSD crash in 2022
Bitcoin has recovered after the crash of the TerraUSD stablecoin in 2022
Tokens associated with the Terra ecosystem have seen multiple growth over the past few weeks

Over the past 24 hours, the price of Bitcoin (BTC) has increased by almost 12% and at 17:30 Moscow time is approximately $41,500. Thus, the BTC rate has returned to the levels that were last observed before the collapse of the Luna (LUNA) project and the associated stablecoin TerraUSD (UST) in spring 2022.


BTC/USD
41 784 +2 114 (5,33%)
Dec 05 00:38:37
1d 3d 1m 3m 1g 5l
2019
2020
2021
2022
2023
2024
0.00
25 000.00
50 000.00
75 000.00
BTC/USD : 27532Monday, Oct 2, 2023
Luna Classic (LUNC), Terra 2.0 (LUNA) and TerraUSD (USTC) tokens, which are directly tied to the Terra ecosystem, have increased by 80-300% over the past few weeks, according to Coinmarketcap. As Coindesk notes, the catalysts for such rapid growth are several events: a $15 million investment in the Terra ecosystem, plans to restore the stablecoin rate, as well as the ongoing program to burn LUNC tokens on the largest cryptocurrency exchange Binance.

rbc.group
The algorithmic stablecoin UST and the LUNA cryptocurrency that supports its peg to the US dollar were developed by Do Kwon, a native of South Korea. On May 8, 2022, UST lost its peg to the dollar and fell to $0.05 within a few days. Before its collapse, the stablecoin had a market capitalization of more than $18.5 billion and was the tenth largest cryptocurrency by this indicator.

LUNA, which was used to stabilize the UST rate, also suffered. The developers increased the altcoin issue to 6.9 trillion tokens, which led to a drop in price from $80 to $0.00013 over the same period. The situation led to the closure of hedge fund Three Arrows Capital and hit crypto lenders Voyager Digital and Celsius Network. According to some estimates, as a result of the fall of the TerraUSD and Luna projects, the crypto community suffered losses of $60 billion.

In South Korea, Kwon has been charged with violating the capital markets law and a warrant has been issued for his arrest. He was also the subject of an Interpol Red Notice, requiring law enforcement agencies around the world to search for the head of Terraform to take him into custody.

On November 24, 2023, the highest court in Podgorica approved the extradition of Do Kwon at the request of the South Korean and US authorities. Do Kwon may spend most of his life behind bars, first in South Korea and then in the United States, said Dan Sung-gan, director of the financial crimes investigation bureau at the Seoul Southern District Prosecutor's Office.