Luna Foundation Guard bought $138 million worth of bitcoins
The non-profit organization conducted two transactions for the purchase of 2943 BTC
30.03.2022 - 15:30
398
1 min
0
What’s new? On March 30, the Luna Foundation Guard (LFG) bought 2943 bitcoins worth $138,5 million at the exchange rate as of 19.00 Moscow time. The purchase was made in two transactions of 1946 BTC and 997 BTC. This is indicated by the data of the GetBlock explorer. As of March 30, 30 727 BTC ($1,4 billion) are stored at the Luna Foundation Guard address.
What had happened before? On March 28, Luna Foundation Guard bought $1 billion worth of bitcoins as part of increasing the stability of the algorithmic stablecoin UST.
Why does LFG buy bitcoin? The organization accumulates BTC to maintain a stable UST price. If the price of the stablecoin falls below $1, LFG will be able to place the accumulated assets in the BTC/UST pool and provide exchanges with 1 UST in exchange for $0,98 in bitcoin.
What is known about Luna Foundation Guard? The non-profit organization was launched in January to develop the Terra ecosystem and increase the sustainability of its stablecoins. The project is overseen by an independent board of governors that includes industry experts, notably Terraform Labs CEO Do Kwon.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 215
BTC
+0.64%
-
Ethereum
$3 306.42
ETH
-1.63%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.43
XRP
+26.04%
-
Dogecoin
$0.403136
DOGE
+2.61%
-
Cardano
$0.900611
ADA
+12.61%
-
Bitcoin Cash
$478.59
BCH
-2.75%
-
Polkadot
$6.12
DOT
+2.96%
-
Stellar XLM
$0.290527
XLM
+20.1%
-
Litecoin
$88.99
LTC
-1.27%