Currently ranked as the 9th biggest crypto-asset in terms of market capitalization, Terra’s LUNA does not appear to be performing all that well.
The Luna Foundation Guard has been busy snapping up Bitcoin lately.
On 7 April, the foundation revealed that it boosted its stablecoin reserves by the acquisition of Avalanche tokens worth $100 million from the Avalanche Foundation.
Back in February, when the Foundation announced plans for raising $1 billion through the sale of LUNA and its intentions to drive up its reserves, the price of the coin appreciated.
However, as expected, a push-back towards the 50 neutral line occurred almost instantaneously.
With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.
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