The latest BTC inflows to the bitcoin address affiliated with the Luna Foundation Guard (LFG) have confirmed the acquisition of an additional 2,940 BTC worth nearly $140 million according to the current BTC/USD rate.
According to WuBlockchain, prior to the transaction, the Luna Foundation purchased around $140 million USDT as a purchase fund, via its Binance address. The blockchain information provided by BitInfoCharts shows accumulated BTC worth over $1.44 billion with a total number of 69 transactions made during the period from January 21st, 2022-March 30th, 2022.
As of today, the BTC address affiliated with the Luna Foundation holds 30,727.9 BTC, making it the 32nd moneyed BTC address at the moment. The organization has actively relied on its fundraising activities to attract new adherents while offering its LUNA tokens.
The funds are actively converted to BTC as the main asset used for maintaining the stability of its UST stablecoin. The application of innovative algorithmic solutions provides the most effective approach to regulating the number of stablecoins in circulation, thus enabling the organization to meet the demand of all users.
The extension of its reserves is important for the Luna Foundation to consistently extend its UST and LUNA projects. On one hand, high BTC reserves guarantee its ability to meet all financial obligations regardless of the changes in the demand for UST or BTC/USD exchange rates. On the other hand, the funds’ interest through its tokens contributes to the higher demand for LUNA among corporate and private investors.
As the demand for LUNA heightens, the organization is likely to raise additional funds and increase its reserves even further. In this manner, both the stablecoin and cryptocurrency segments may develop in a well-balanced manner. The price dynamics witnessed in the past months confirm the fact that Terra (LUNA) is one of the major gainers in the top-10 crypto rankings as it smashed past a new all-time high yesterday.
Source: Read Full Article