Let’s see why apex cryptocurrency was acquired for $231 million
On-chain data, Terra
may be working for another bitcoin
According to Etherscan data shared by Larry Cermak on Twitter, Luna Foundation Guard (LFG) sent Tether USDT
Worth $231 million to cryptocurrency exchange Binance on Wednesday.
Last week, the same address purchased $125 million worth of Bitcoin, setting the stage for Terra’s long-term plan to buy $10 billion worth of BTC for its reserves.
Cermak, vice president of research at The Block, estimates that there are about $610 million left in ethereum wallets. Ethereum
This may be managed by Jump Trading.
Meanwhile, LFG-related bitcoin wallets hold more than 33,000 bitcoins, worth about $1.5 billion.
The latest bitcoin purchases pushed LUNA up 10% in a single day, taking it to an all-time high above $105 on March 29.