Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
BTC has been on fire since the start of the new month. The price finally surmounted the stubborn $49K resistance zone and climbed to its highest level in three months.
The BTC/USD pair cruised past $50K. This happened as stocks slid following a report from US officials that revealed underwhelming US job gains. The dampened outlook for the US economy pushed the dollar and S&P 500 index lower while boosting interest in hedging assets like Bitcoin and gold.
As the fast-spreading Delta variant causes a slowdown in the US jobs sector, jobs in crypto and blockchain are surging.
According to a study from the employment website, Indeed, crypto and blockchain job postings have risen steadily since September 2020. According to Korea IT Times, the primary reason for the increasing demand for crypto experts is the mounting institutional adoption.
The new data suggests that blockchain jobs on the employment website have increased by 118% over the past ten months.
BTC and ETH Bulls Back in the Scene
Most systems go for the market leaders, BTC and ETH, which have been on a tear recently. The two cryptocurrencies are approaching final hurdles that could open the doors toward fresh all-time highs.
The world’s first crypto, Bitcoin, rose above $50.5K on Friday, climbing from a low of $48,300 seen the previous day. The remarkable cross-over above $50K excited Petr Kozyakov, co-founder of payment network Mercuryo.
“The premier cryptocurrency still has the inherent features that attract investors and buyers,” noted the CEO.
However, Kozyakov lamented that Bitcoin’s increased price valuation has still done little to eliminate wild price swings in the market.
Analyst Michaël van de Poppe also hailed Bitcoin’s impressive move above $50K. He predicted in a YouTube update that the $51K ‘final resistance’ could soon fade. The respected analyst added that a vertical candle toward $58K would quickly follow if bulls overcome that hurdle.
Meanwhile, ETH continued its climb in the European session, surpassing $3,900 to hit a three-month high. Since early August, the perennial second-place crypto has jumped nearly 50% and is approaching its final resistance before toppling $4K.
The altcoin has outperformed its bigger sibling over the past year. It has given investors yields of over 700% compared to Bitcoin’s 300% returns over the same period.
ADA On a Sure Path to $4
Cardano (ADA) has posted massive gains relatively quickly and has recently cracked the critical resistance point at $3. The third most valuable digital asset hit a new lifetime high of $3.10 on Friday. This event comes amid growing interest deriving from the upcoming Alonzo Purple Hard Fork.
Scheduled for September 12th, the game-changing upgrade brings smart contracts capability to Cardano. Users will soon carry out DeFi services and mint NFTs on the blockchain, putting ADA on track for $4.