Luna Foundation Guard Completes $173M BTC Purchase – April 11

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $40,771

Bitcoin price has had a rough beginning to the week, crashing through the $41,000 level to start Monday.

Top-20 altcoins have taken an even larger hit than Bitcoin over the last 24 hours, as Ethereum falls 8%, BNB drops 6% and Avalanche slumps 10%.

Top Stories for April 11, 2022 πŸ”₯

πŸ‘‰ Luna Foundation Guard Completes $173M BTC Purchase

TerraUSD’s Luna Foundation Guard (LFG) has completed yet another large Bitcoin purchase, this time adding $173 million in BTC to its stablecoin reserves.

The purchase brings the total quantity of Bitcoins in the LFG treasury to around 39,898, with a current market value of $1.67 billion. More purchases may still be horizon, with plans to obtain up to $10 billion worth of the cryptocurrency.

πŸ‘‰ BitMEX Co-Founder Arthur Hayes Predicts Crypto Crash

BitMEX co-founder and former CEO Arthur Hayes has predicted that cryptocurrency markets will tumble this second quarter of 2022, with Bitcoin falling as low as $30,000.

Hayes has identified that the crypto market is moving alongside US tech stocks, with a significant correction likely for both markets. He attributes the forthcoming drop in technology stocks to higher commodity prices and a continuation of the Russia/Ukraine war.

πŸ‘‰ $250M Fund Established To Develop TONcoin Ecosystem

The TONcoin Foundation has selected the TONcoin Fund as its official ecosystem fund, which has secured $250 million worth of commitments from Huobi, KuCoin, MEXC and others.

The fund will be primarily allocated towards Web3-related developments, with a decentralized exchange and NFT project currently incubating. Cameroon, the Democratic Republic of the Congo and the Republic of the Congo have all announced adoption of the TON blockchain.