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This Shiba Inu (SHIB) Price Prediction article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our SHIB price analysis and prediction.

Shiba Inu is one of the most talked-about digital assets in the crypto world lately since it turned some investors into millionaires. Regarding crypto technology, SHIB is an experimental meme token that is called the “Doge Killer”. It was launched on the Ethereum blockchain but is also present in other blockchains like Binance Smart Chain (BSC). It complies with the rules set by the respective blockchains it is integrated into to ensure its security. On the other hand, SHIB can take advantage of the technology that ETH possesses along with its other crypto partners.

In this SHIB price analysis and price prediction, we take a look at the performance of SHIB if it will reach $0.000030. But before that, let us learn more about what Shiba Inu (SHIB) is and its current position in the crypto market.

What Is Shiba Inu Token?

Shiba Inu is a cryptocurrency meme token mostly known as the Dogecoin Killer. The name was due to its exponential bullish run that has yielded over 158,000 times to its investors in the past one year while Dogecoin (Doge) is yielding only 15.58 times in the same duration according to Coingecko data. Truly, this is an aggressive achievement that SHIB should be proud of.

What Is Shiba Inu Token? 22

As of today, SHIB is still a new project compared to the other digital assets in the crypto market. However, SHIB continues to develop its technology with its team of developers and independent holders are burning the token to reduce its volume in circulation. In fact, the network is currently working with its other flagship tokens such as $LEASH and $BONES.

Furthermore, SHIB is on its way to developing its own decentralized exchange: ShibaSwap. Once launched, ShibaSwap seeks to provide a safe place for crypto traders to trade valuable cryptocurrencies.

For now, traders and investors that are interested in SHIB can check the availability of the crypto at different decentralized exchanges Binance, Huobi Global, and OKEx to name a few.

Shiba Inu (SHIB) Market Position

So far, SHIB is one of the most aggressive digital assets in the crypto market this year. For this reason, the crypto was able to place itself among the top 20 cryptos on CoinMarketCap. Indeed, this is a good market standing favored by global investors.

In terms of market position, SHIB market capitalization amounts to almost $6,556,463,295 as of the time of writing. Today, SHIB has a 24-hour trading volume amounting to over $500,682,884 with a circulating supply of almost 549,063.28B SHIB. It is trading at $0.00001194 and has increased by 11.67% in the past 24-hour.

Now that you already have an idea about what SHIB cryptocurrency is, do you think SHIB is a good investment this year? If you are already excited to know, come, and together let us check this SHIB price analysis and price prediction article.

Shiba Inu (SHIB) Price Analysis 2022

Currently, Shiba Inu (SHIB) is in the 16^th position in CoinMarketCap. But, with the continuous token burn and its active community of investors, the year could hold good surprises for its supporters. Let’s proceed to the charts in this SHIB price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for SHIB/USDT, we can deduce that the price of Shiba Inu might get bullish in some days since the price had a breakout at the first half of the channel from the top. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 1Day chart is 68.75.  This shows that SHIB is showing an overbought trend since its RSI lies between 50 and 70. This value can trigger a bullish or bearish run if investors reposition themselves either towards the buyers or sellers.

From the chart above, the 200-MA is above the 100-MA which means that long-term investors would gain. However, since the gap between the two moving averages is wide and both moving averages are within the recently formed candlesticks, the price of the SHIB might maintain the present bullish run for some days.

Shiba Inu (SHIB) Price Prediction 2022

The chart below shows that Shiba Inu (SHIB) price has reduced in the past few days. Moreover, the price of Shiba Inu (SHIB) has increased by 11.67% in the last 24 hours. If this trend continues, SHIB might run along with the bulls, thereby hitting the $0.00001288 resistance1 level, and move higher to $0.000022 resistance5 level, the 2022 bullish signal.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone Shiba Inu from its uptrend position. In simpler terms, the price of SHIB might plummet to almost $0.000010, a bearish signal.

Meanwhile, our long-term Shiba Inu (SHIB) price prediction for 2022 is bullish. It has a high possibility of surpassing its current all-time-high (ATH) at about $0.00008845 according to CoinMarketCap this year. However, that will only happen if it breaks many previous psychological resistances.

If this bullish trend continues, Shiba Inu (SHIB) will reach $0.000022 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $0.000017. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $0.000030 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

Shiba Inu (SHIB) Price Prediction 2023

If Shiba Inu (SHIB) holds the support level around 100-MA, the long-term moving average of 100 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $0.000050.

Shiba Inu (SHIB) Price Prediction 2024

As per the latest upgrades, developments, Shiba Inu (SHIB) price prediction, and new project forecasts of the platform, Shiba Inu investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.000080.

Shiba Inu (SHIB) Price Prediction 2025

As per the latest upgrades, developments, Shiba Inu (SHIB) price prediction, and new project forecasts of the platform, Shiba Inu investors could expect many partnerships and integrations around 2025. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.000100.

Shiba Inu (SHIB) Price Prediction 2026

As per the latest upgrades, developments, Shiba Inu (SHIB) price prediction, and new project forecasts of the platform, Shiba Inu investors could expect many partnerships and integrations around 2026. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.000250.

Shiba Inu (SHIB) Price Prediction 2027

As per the latest upgrades, developments, Shiba Inu (SHIB) price prediction, and new project forecasts of the platform, Shiba Inu investors could expect many partnerships and integrations around 2074. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.000400.

Shiba Inu (SHIB) Price Prediction 2028

In the next seven years, Shiba Inu (SHIB) prices could race up to $0.000600. However, reaching this level could not be so difficult for Shiba Inu as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SHIB has a high possibility of reaching a new ATH soon in the next seven years as per the prediction.

Shiba Inu (SHIB) Price Prediction 2029

In the next eight years, Shiba Inu (SHIB) prices could race up to $0.000800. However, reaching this level could not be so difficult for Shiba Inu as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that SHIB has a high possibility of reaching a new ATH soon in the next eight years as per the prediction.

Shiba Inu (SHIB) Price Prediction 2030

As per the latest upgrades, developments, Shiba Inu (SHIB) price prediction, and new project forecasts of the platform. Moreover, this might boost the price of SHIB in the crypto market, and it will be the best investment as the price can spike and reach around $0.0010.

Conclusion

SHIB has a bright future ahead of it in 2022. With the ongoing developments happening within the SHIB ecosystem, as well as in the overall crypto market, we may see SHIB reach new heights.

Bullish SHIB price prediction 2022 is between $0.000017 to $0.000022. As said above, it may even reach $0.000030 if investors have decided that SHIB is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

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Mangata X, a community-owned decentralized exchange (DEX) on Kusama, has revealed that its liquidity bootstrapping event will happen on June 8.

According to the information shared with CoinQuora, the Kusama DEX will bootstrap the first liquidity pool for Mangata X’s native token, MGX. Notably, a liquidity bootstrapping event happens when a DEX wants to introduce new tokens without bot manipulation and create fair conditions for price discovery.

This announcement comes on the heels of Kusama unlocking around 1.1 million KSM from staking and crowdloans earlier this May. The number represents 10% of the total token supply, worth approximately $100 million based on the price of KSM at the time of writing.

The Mangata team purposely timed the liquidity bootstrapping event to allow multiple users to stake their recently unlocked KSM to Mangata X’s new pool because of the increase in KSM liquidity.

Mangata X also released a new consensus mechanism called proof-of-liquidity that reuses liquidity to maintain chain security and enables users to “stake once, [and] earn twice” as much. The mechanism also creates deeper liquidity pools and guarantees capital efficiency, generating two streams of rewards.

Holders of KSM who will stake their coins with Mangata X’s new liquidity pool will receive liquidity mining incentives, staking rewards, and trading rewards.

In March 2022, Mangata X was launched as a parachain on Polkadot’s Canary network Kusama. The Mangata team previously revealed that it initially planned to launch only on Polkadot but decided to expand to Kusama. The platform boasts of its prevention of maximal extractable value (MEV) and the use of a proof-of-liquidity mechanism.

This Optimism (OP) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our OP price prediction and prediction. 

Among the cryptocurrencies that are surging this year, Optimism (OP) is perhaps one of the most surprising for some. It is not directly related to Bitcoin, nor is it the most hyped cryptocurrency today. But for those that are aware, OP price has reduced by 74% in the past 60 days.

Can OP reach $5 in 2022? We will find out shortly. But before we proceed to our OP analysis, let us first answer the question “What is Optimism?” in this OP prediction 2022 article. 

What is Optimism (OP)?

Optimism (OP) is a layer-two blockchain on top of Ethereum. Optimism benefits from the security of the Ethereum Mainnet and helps scale the Ethereum ecosystem by using optimistic rollups. That means transactions are trustlessly recorded on Optimism but ultimately secured on Ethereum.

Optimism is one of the biggest scaling solutions for Ethereum with over $300 million in TVL. It is home to 35 protocols, the biggest being Synthetix (SNX), a derivatives exchange, Uniswap (UNI), a DEX, and Velodrome (VELO), an AMM. Users can begin their journey on Optimism by adding the chain on their Metamask and bridging tokens like ETH to the L2. On May 31, 2022, Optimism conducted a highly anticipated airdrop of its OP token. The airdrop was so popular that it briefly slowed down the Optimism blockchain.

Optimism aims for the minimum number of moving parts while building a layer-two solution for Ethereum. In practice, this means using proven Ethereum code and infrastructure when possible. Optimism thus aims to keep its code as simple as possible and work directly with existing codebases.

Now that we are clear about Optimism, do you think OP will be beneficial crypto in 2022? Join me and let us see the charts in this OP price analysis and OP price prediction.

Optimism (OP) Current Market Status

As of the time of writing this Optimism (OP) price analysis, OP trades at $1.19 with a 24-hour trading volume of $232,389,930. The price of SFM has decreased by 5.62% in the last 24 hours.

Furthermore, Optimism (OP) has a current total supply of 4,294,967,296 OP according to CoinMarketCap. Currently, the top cryptocurrency exchanges for OP are Binance, Huobi Global, Kucoin, OKX, Gate.io, and others.

Now, let’s proceed to the next part of this Optimism (OP) technical analysis for 2022.

Optimism (OP) Price Analysis 2022

Currently, OP holds 2807th place on CoinMarketCap. But will the latest upgrades, development, and changes in the Optimism (OP) ecosystem help the cryptocurrency price to reach higher? Let’s proceed to the charts in this OP price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for OP/USDT, we can deduce that the price of Optimism (OP) might get bullish in some days since the price is in the first half of the channel from the bottom. However, in the long-term, the price might get bullish since top cryptocurrencies like Bitcoin and Ethereum are already getting bearish from the recent bullish run.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of the 2-Hour chart is 40.40.  This shows that OP is showing a neutral trend since its RSI lies between 30 and 50. This value can trigger a bullish run if investors reposition themselves either toward the buyers.

From the chart above, the 50-MA is above the 10-MA which means that long-term investors would gain. However, since the gap between the two moving averages is wide and both moving averages are above the recently formed candlestick, the next bullish run might be long.

Optimism (OP) Price Prediction 2022

The chart below shows that Optimism (OP) has been affected by the crypto market downtrend in recent times. Moreover, the OP price shows a bearish trend. If this trend reverses, OP might run along with the bulls, overtaking its $1.26 resistance1 level and moving higher to $1.66 at the resistance4 level, the 2022 bullish signal.

Conversely, if the investors turn towards the crypto, the bears might take over and push Optimism (OP) from its downtrend position. In simpler terms, the price of SFM might plummet to almost $1.08, a bearish signal.

Meanwhile, our long-term OP price prediction for 2022 is bullish. It has a high possibility of reaching new heights. More so, this will only happen if it breaks many past psychological resistances.

If this bullish trend continues, Optimism (OP) will reach $1.66 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1.26. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $5 is quite optimistic in the price point of view but undoubtedly feasible for the OP future.

Optimism (OP) Price Prediction 2023

If Optimism (OP) holds the support level around 50-MA, the long-term moving average of 50 days firmly, buyers will then have ample time and stability to forge the next attack mission on the vital level at $10, making it not plummet but play consistently.

Optimism (OP) Price Prediction 2024

As per the latest upgrades, developments, Optimism (OP) price prediction, and new project forecasts of the platform, Optimism (OP) investors could expect many partnerships and integrations around 2024. Moreover, this might boost the price of OP in the crypto market, and it will be the best investment as the price can spike and reach around $20.

Optimism (OP) Price Prediction 2025

In the next four years, OP’s price could race up to $40. However, reaching this level could not be so difficult for Optimism as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OP has a high possibility of reaching a new ATH soon in the next four years as per the prediction.

Optimism (OP) Price Prediction 2026

In the next five years, OP’s price could race up to $80. However, reaching this level could not be so difficult for Optimism as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OP has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

Optimism (OP) Price Prediction 2027

In the next six years, OP’s price could race up to $160. However, reaching this level could not be so difficult for Optimism as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OP has a high possibility of reaching a new ATH soon in the next six years as per the prediction.

Optimism (OP) Price Prediction 2028

In the next seven years, OP’s price could race up to $320. However, reaching this level could not be so difficult for Optimism as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OP has a high possibility of reaching a new ATH soon in the next seven years as per the prediction.

Optimism (OP) Price Prediction 2029

In the next eight years, OP’s price could race up to $640. However, reaching this level could not be so difficult for Optimism as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that OP has a high possibility of reaching a new ATH soon in the next eight years as per the prediction.

Optimism (OP) Price Prediction 2030

As per the latest upgrades, developments, Optimism (OP) price prediction, and new project forecasts of the platform, Optimism (OP) investors could expect many partnerships and integrations around 2030. Moreover, this might boost the price of OP in the crypto market, and it will be the best investment as the price can spike and reach around $1000.

Conclusion

Optimism (OP) has a bright future ahead of it in 2022. With the ongoing developments happening within the Optimism ecosystem, as well as in the overall crypto market, we may see OP reach new heights.

Bullish Optimism price prediction 2022 is $1.66. As said above, it may even reach its new ATH if investors have decided that OP is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

FAQ

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

After the June 4 Bored Ape Yacht Club (BAYC) Discord community hacks, four more Discord NFT communities were compromised and phished of NFTs. The four NFT communities are the Yung Ape Squad, Apocalyptic Apes, Aiternate, and Bubbleworld. The hacks happened on June 6, only 2 days after the BAYC hacks happened.

#CommunityAlert

We are seeing another phishing attack today, this time on @apocalypticapes discord server.

It looks like the server has now been secured with links to the phishing site taken down. If you have clicked on the link try @RevokeCash to de-approve.#Phishing pic.twitter.com/R73LWKURuy

— CertiK Alert (@CertiKAlert) June 6, 2022

The hackers had the exact similar modus operandi as the BAYC Discord hacks. Firstly, the hackers take the account of one of the Discord moderators and then spam malicious links on servers disguised as announcements. Once a user clicks on the links, their wallets are compromised and they lose their NFTs.

The NFT communities have officially addressed the matter and warned its members not to click links at the risk of losing their NFTs. Apocalyptic Apes lost 21 NFTs, meanwhile, Bubbleworld lost 160 NFTs. Among the NFTs stolen were Beanz, Goblintown, Otherdeed, CoolCats, Mindblowon, and Boki.

Hi everyone our Discord has been compromised please don’t click any links while we are in the midst of securing the discord. Please only follow links instructions we post on BOTH Twitter AND Discord!

Official statement from the official Bubbleworld Twitter account. The other three communities similarly address the hacks.  

On June 4, hackers breached the official BAYC Discord and took 200ETH worth of NFTs (over $350,000 at the time of writing). Hackers have targeted BAYC several times in 2022, notably, an Instagram breach in April siphoned users of over 130NFTs costing several million at the time. 

Bitcoin (BTC), the largest cryptocurrency by market capitalization, dropped below the $30k level in the last 24 hours following its rise to above $33k yesterday, according to CoinMarketCap.

BTC’s price drop over the last 24 hours came after it posted its first green weekly candle after nine weeks of red weekly candles. This may be a result of traders taking profits.

According to the crypto market tracker, the price of Bitcoin now sits around $29,490.63, which is a 5.48% drop in the last 24 hours. This has also pushed the price of Bitcoin down 6.89% over the last seven days. The market cap for the coin now stands at $561.71 billion.

Bitcoin’s price dropped below the 9 EMA line as can be seen on the daily chart for BTC/USDT.  BTC attempted to retest the $31,700 level but was followed by a bearish wave, resulting in the price falling back down to its current level.

This is the second time in the last seven days that BTC has tested this level, with the most recent attempt yielding the same result. However, bulls seem to be trying to keep the price of BTC above the 9 EMA line as the current candle has a small wick underneath it, which represents buyers trying to keep the price above a certain level.

This may be a buying opportunity for investors as the two attempts have double-tapped the $31,700 level. Should the current candle form a higher low than the previous day, an ascending triangle will form, which may be a setup for a bullish move to $36,000.

Paris, France, 7th June, 2022, Chainwire

Atlendis, a capital-efficient DeFi protocol that enables crypto loans without collateral, announced today the launch of the Atlendis protocol V1 on Polygon mainnet, a full-stack Ethereum scaling solution.

This is a major milestone for Atlendis (formerly known as JellyFi) following its $4.4 million seed funding round and coming a few months after the alpha release of the Atlendis protocol. Liquidity providers (LPs) can now deposit into the borrower pool of their choice on the Atlendis protocol to start earning interest. Whitelisted institutional borrowers including dApps, protocols and DAOs, can now take out loans in their specific pools.

Atlendis is launching with institutional borrowers DeversiFi and ZigZag with an initial credit limit of $10 million, and there is a growing pipeline of institutional borrowers that will be joining soon. Interested institutional borrower candidates can contact Atlendis Labs to apply for access to revolving lines of credit on the Atlendis protocol.

“We are excited to launch the Atlendis protocol and facilitate new DeFi use cases through uncollateralized crypto loans. Our main objective is to help crypto-native organizations access revolving lines of credit to meet their recurrent liquidity needs instantly without having to lock any collateral. In addition to targeting renowned Web3 institutions that engage in market-neutral strategies, Atlendis welcomes non-crypto native companies seeking exposure to crypto assets,” said Alexis Masseron, Co-Founder and CEO of Atlendis Labs.    

“Atlendis is a unique protocol that allows DeversiFi to access short term, revolving and under-collateralized borrowing to fund DeversiFi’s fast-withdrawal service and multi-chain bridges. We aim to initially borrow USDC from Atlendis and scale to other pools as our cross-chain features roll out,” said Ross Middleton, Co-Founder of DeversiFi.   

Atlendis Labs and the Atlendis Protocol

Founded in 2021 by former ConsenSys employees, Atlendis addresses capital inefficiencies in the DeFi lending market and provides solutions for recurring liquidity needs and non-dilutive financing. Previously, institutional borrowers including dApps, protocols and DAOs have had limited options to meet their liquidity requirements through crypto loans, as most DeFi lending protocols require borrowers to overcollateralize their loans, thus drastically reducing borrowing use cases in DeFi compared to TradFi.

Features Available for Liquidity Providers

• Rate Discovery
  Liquidity pools are borrower specific and are split into multiple ticks. When adding liquidity to the pool of their choice, liquidity providers are able to choose the lending rate at which they feel comfortable lending based on their own risk assessment. The borrowing rate is derived by the market and depends on the rates offered by lenders.
• Non Fungible Positions
  Each liquidity provider’s deposit on the Atlendis protocol is characterized by a position that is represented by an NFT with original artwork. The NFT displays the position and the underlying digital assets attached to it, indicating information including whether they are loaned or waiting to be matched with a borrower.
• Pool Incentivization
  Liquidity providers on the Atlendis protocol are able to earn rewards from three sources:
  • Actively lending to borrowers at the chosen lending rate.
  • Aave’s APY, when the funds are not being actively borrowed.
  • Additional liquidity rewards, paid by the borrower when their funds are not used.

Features Available for Borrowers

• Tailored Pools
  The pools on the Atlendis protocol can be built to fit the specific use case of the borrower, with a wide range of parameters and additional functionalities.

Benefits for Borrowers

Once borrowers are whitelisted, the Atlendis protocol will create a specific liquidity pool(s) per borrower and per asset. Borrowers will have instant access to uncollateralized crypto loans at a fair rate via Atlendis’ unique market rate discovery. Borrowers have flexibility as they do not have to lock any collateral. Interest and principal on the crypto loans must be repaid at maturity.

Benefits for Lenders

On the Atlendis protocol, liquidity providers can earn higher rewards than on overcollateralized lending protocols. Lenders have the ability to choose the borrowers that they trust to lend to, as well as their preferred lending rate, benefiting from data including the credit evaluation and live financial performance of the borrowers performed by X-Margin.  

Audit Reports 

Two audits of the Atlendis protocol’s smart contracts were mandated by Atlendis Labs. The first was conducted by Runtime Verification and the second by PeckShield.

About Atlendis

Atlendis is a capital-efficient DeFi lending protocol that enables uncollateralized crypto loans. Institutional borrowers can obtain flexible and competitive loan terms. Uncollateralized loans on the Atlendis protocol are similar to revolving lines of credit, giving borrowers flexibility for recurrent and short-term liquidity needs. For lenders, Atlendis enables higher returns with granular control over their risk profile. Lenders can earn high interests on actively loaned out capital and unused capital will be placed on a trusted third-party liquidity protocol. There will be no idle capital on Atlendis. Atlendis enables trusted borrowing and lending, opening a wide range of use cases for borrowers.

Contacts

• Victoria Calmon
• Atlendis Labs
• victoria.calmon@atlendislabs.io

In an interview series, a group of insiders revealed that Do Kwon, the CEO of Terraform Labs (TFL), was least involved in the war room instituted before the launch of the new Terra chain, Terra 2.0.

These were the verified LUNA validators involved in the launch of TFL’s new chain.

Based on the chat logs, validators ThorchainMaximalist and PFC said there were significant issues with the process of handling the Terra crisis. They noted that during the meltdown, they lost the brunt of their net worth.

The group also said they had abandoned on-chain governance since people scooped up billions of Terra LUNA Classic (LUNC) in the last hours of the crash. This would leave on-chain governance in the hands of the people who accumulated most LUNC tokens.

When asked about the future of LUNC, they expressed a negative outlook for the token. One of the validators said:

I don’t think it has much future. I actively validate on classic and will continue to do so until it has no traffic. People are still using it, and getting value from it.. so who knows it may continue to run for a while, and get its group of people using it.

Changpeng Zhao, the CEO of Binance, tweeted that Binance Labs made an investment of $3 million in Terra in 2018, in which they received 15 million LUNA tokens in exchange for their investment. However, Binance lost the invested capital making any profit from the position. The CEO also known as “CZ” argued that the investment was worth $1.6 billion at its peak.

2/ Binance received 15,000,000 LUNA (at peak worth $1.6 billion USD, now not much) as part of the original ($3m) invest. 560x return at peak. It still sits on the address we received at . Never moved or sold.

Address:https://t.co/6HwTu6CCuB

— CZ Binance (@cz_binance) May 16, 2022

At the time of writing, Terra LUNA Classic (LUNC) and LUNA 2.0 trade at $0.00008555 and $5.39, respectively, according to CoinMarketCap.