fbpx
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Wednesday, October 4, 2023
Online Crypto College
CREATE FREE ACCOUNT
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
No Result
View All Result
Online Crypto College
No Result
View All Result

Large Investors Withdrew Terra Positions Early on, Jump Crypto Reveals

June 3, 2022
in Altcoin
Reading Time: 4 mins read
A A
Large Investors Withdrew Terra Positions Early on, Jump Crypto Reveals
ShareShareShareShareShare

Related articles

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023
SBF Trial: Day 1 concludes without a final jury selected

SBF Trial: Day 1 concludes without a final jury selected

October 4, 2023

Some large investors withdrew Terra-related investments as the Terra USD (UST) stablecoin began to lose its peg, according to Jump Crypto, a corporation strongly connected to the now-dead Terra network. Small investors, on the other hand, continued to purchase during the collapse. Jump Crypto, the crypto subsidiary of Chicago-based Jump Trading, issued a report on Terra’s breakdown in early May on Thursday, which included this revelation.

Until recently, the company has kept relatively mum regarding Terra’s demise, including how Terra’s backer, Luna Foundation Guard, will distribute its remaining assets to recompense UST customers, as well as the actions it took in an unsuccessful attempt to restore the coin’s 1-to-1 peg to the dollar.

While Kanav Kariya, the president of Jump, is listed on the foundation’s website as a member of its governing council, the report makes no mention of his company’s involvement in the stablecoin saga.

Kanav Kariya, Source: Photographer: Eva Marie Uzcategui/Bloomberg

However, the findings, which are based on publicly accessible blockchain transactions show that some major investors sold their positions in Terra’s UST far sooner than many smaller investors, demonstrating that cryptocurrency remains a game for big players.

Jump Crypto confirmed findings in a previous investigation by Nansen, a blockchain analytics platform, that several wallets, including one linked to crypto lender Celsius, were “important” when the dollar peg fell, resulting in the blockchain unraveling.

While some significant UST depositors moved out of Anchor as early as May 7, according to the Jump Crypto report published by academics Nihar Shah and Maher Latif. However minor depositors increased their exposure between May 7th and May 9th. According to Jump, UST outflows from Anchor had a crucial role in further separating UST from its peg.

Source: Bloomberg

When the dollar-peg slip first occurred on May 6th, large depositors were able to run down over 15% of their Terra-UST position in Anchor very instantly, whereas small depositors, or wallets with less than $10,000 in Anchor as of May 6th, boosted their exposure.

Based on the wallet’s history, Jump believes it is improbable that the wallet that sparked the crash was linked to a professional trading company. The unknown wallet lowered its UST holdings by around $85 million through a series of transactions on May 7, a move that the crypto industry believes was the beginning of a chain of events that led to the wider calamity.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Japan passes stablecoin law giving protection to crypto investors

Next Post

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

Related Posts

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn

October 4, 2023

Ripple’s XRP emerged as one of the rare gainers during a subdued 24 hours in the cryptocurrency market that saw...

SBF Trial: Day 1 concludes without a final jury selected

SBF Trial: Day 1 concludes without a final jury selected

October 4, 2023

The first day of the Sam Bankman-Fried (SBF) trial ended without a final jury being selected, and the process will...

Judge rejects SEC’s request to appeal Ripple decision

Judge rejects SEC’s request to appeal Ripple decision

October 3, 2023

The ongoing legal skirmish between the SEC and Ripple Labs added another chapter as Judge Analisa Torres denied the SEC’s...

Prosecutors say plea deal was never considered for Sam Bankman-Fried

Prosecutors say plea deal was never considered for Sam Bankman-Fried

October 3, 2023

On the opening day of  Sam Bankman-Fried‘s criminal trial in New York,  U.S. government prosecutors told the court that that...

Binance continues to wind down BUSD by ending borrowing and staking support for the stablecoin

Binance continues to wind down BUSD by ending borrowing and staking support for the stablecoin

October 3, 2023

Global crypto exchange  Binance announced on Oct. 3 that  it will end support for Binance USD (BUSD) borrowing and staking...

Load More
Next Post
Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

Stablecoins to be Issued by Licensed Banks and Trust Companies in New Japanese Law

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

$2 Worth SHIB Becomes $14.5 Million in October 2023

$2 Worth SHIB Becomes $14.5 Million in October 2023

September 29, 2023
SEC Delays Decision on Spot Bitcoin ETFs Due to U.S. Government Shutdown Concerns

SEC Delays Decision on Spot Bitcoin ETFs Due to U.S. Government Shutdown Concerns

September 29, 2023
How Hong Kong became the new hub for cryptocurrencies – crypto.news

How Hong Kong became the new hub for cryptocurrencies – crypto.news

September 29, 2023
Brian Armstrong’s 2024 Bitcoin Price Prediction: Get Ready for the Next Crypto Bull Run – Coinpedia Fintech News

Brian Armstrong’s 2024 Bitcoin Price Prediction: Get Ready for the Next Crypto Bull Run – Coinpedia Fintech News

October 1, 2023
Unchained Is Now Helping Customers Custody Over $2 Billion in Bitcoin

Unchained Is Now Helping Customers Custody Over $2 Billion in Bitcoin

October 3, 2023

About Us

We provide the latest crypto news, trading tools, and up-to-date education to students and traders all over the world.

ENROLL FOR FREE

Latest Crypto Headlines

  • Ethereum futures ETFs on CME begin with light trading volumes
  • FTX-SBF charges valid despite lack of US crypto laws, DOJ says – Cointelegraph
  • Coinbase CLO Responds to SEC’s Opposition
  • Experts Foresee Bitcoin ($BTC) at $30K Next Month; Whales Dive into Filecoin ($FIL) and InQubeta ($QUBE)
  • Ripple’s XRP price jumps 5% fuelled by Singapore licensing acquisition amidst crypto market downturn
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
    • Blockchain
    • Regulation
    • Trading
  • Learn Crypto For Free
  • DipSnyper Bot

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$27,537.00-0.31%
  • ethereumEthereum(ETH)$1,646.40-0.72%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.02%
  • binancecoinBNB(BNB)$212.40-1.26%
  • rippleXRP(XRP)$0.545.07%
  • usd-coinUSDC(USDC)$1.000.02%
  • staked-etherLido Staked Ether(STETH)$1,646.43-0.74%
  • solanaSolana(SOL)$23.54-2.62%
  • cardanoCardano(ADA)$0.256767-1.97%
  • dogecoinDogecoin(DOGE)$0.061089-1.34%
  • tronTRON(TRX)$0.0888421.04%
  • ToncoinToncoin(TON)$2.01-2.49%
  • Wrapped stETHWrapped stETH(WSTETH)$1,864.220.34%
  • matic-networkPolygon(MATIC)$0.583.09%
  • polkadotPolkadot(DOT)$4.04-2.61%
  • litecoinLitecoin(LTC)$64.49-2.15%
  • bitcoin-cashBitcoin Cash(BCH)$230.32-4.55%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$27,508.00-0.34%
  • shiba-inuShiba Inu(SHIB)$0.000007-0.82%
  • chainlinkChainlink(LINK)$7.55-0.35%
  • daiDai(DAI)$1.00-0.06%
  • avalanche-2Avalanche(AVAX)$9.733.77%
  • leo-tokenLEO Token(LEO)$3.71-0.36%
  • true-usdTrueUSD(TUSD)$1.000.02%
  • uniswapUniswap(UNI)$4.32-3.71%
  • stellarStellar(XLM)$0.1128111.24%
  • moneroMonero(XMR)$148.661.86%
  • okbOKB(OKB)$43.180.08%
  • Aerarium FiAerarium Fi(AERA)$7.15-13.10%
  • binance-usdBUSD(BUSD)$1.000.07%
  • ethereum-classicEthereum Classic(ETC)$15.58-4.35%
  • BSCEXBSCEX(BSCX)$237.310.49%
  • cosmosCosmos Hub(ATOM)$7.01-2.80%
  • hedera-hashgraphHedera(HBAR)$0.048571-3.32%
  • filecoinFilecoin(FIL)$3.30-0.90%
  • GGTKNGGTKN(GGTKN)$0.1121310.76%
  • internet-computerInternet Computer(ICP)$3.192.28%
  • lido-daoLido DAO(LDO)$1.601.29%
  • crypto-com-chainCronos(CRO)$0.050183-0.85%
  • MantleMantle(MNT)$0.406458-1.35%
  • makerMaker(MKR)$1,424.66-2.14%
  • quant-networkQuant(QNT)$88.09-0.71%
  • AptosAptos(APT)$5.29-2.00%
  • vechainVeChain(VET)$0.016645-2.96%
  • optimismOptimism(OP)$1.31-3.73%
  • ArbitrumArbitrum(ARB)$0.88-4.21%
  • nearNEAR Protocol(NEAR)$1.09-2.43%
  • KaspaKaspa(KAS)$0.050278-1.18%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%