Try Quests to earn cryptoFlash Bounty: LUNA Head
I considered the LUNC Wallets whose balances are worth more than 1M dollars as whales.
Wallet terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe is the largest Luna whale with a balance of about 2.4T LUNCs.
Introduction
What is Terra?
Terra is a blockchain protocol and payment platform used for algorithmic stablecoins. The project was created in 2018 by Terraform Labs, a startup co-founded by Do Kwon and Daniel Shin. It is most known for its Terra stablecoin and the associated Luna reserve asset cryptocurrency.
What is Terra LUNA Classic (LUNC)?
LUNA Classic (LUNC) is the original Terra LUNA coin left behind after the recent UST/Luna collapse and the establishment of a new Terra chain. Kwon's plan for recovery included the creation of a whole new chain on which future transactions would be conducted. The old chain was split into the LUNA Classic and the Terra chains. Terra will be the name of the new chain (known as LUNA 2.0), and LUNA Classic (LUNC) is the original Terra LUNA blockchain's native token.
What is UST?
UST is what’s known as an algorithmic stablecoin. It aims to carry out the function of stablecoins like tether, which track the price of the U.S. dollar , but without any actual cash held in a reserve to back it.
Instead, UST — or “terraUSD” — is created by destroying a sister token, known as luna, using smart contracts, lines of code written into the blockchain.
What is Anchor Protocol?
Anchor Protocol is a DeFi protocol that allows users to enjoy a stablecoin-based lending financial system. The idea is simple: a lender deposits its UST with Anchor and that UST is used to make collateralized loans for which it receives interest.
Method
The tables used in this dashboard are terra.classic.dim_daily_balances , terra.classic.dim_oracle_prices , terra.classic.ez_transfers , terra.classic.dim_labels .
The metrics that are reviewed in this dashboard are:
- Total daily price LUNC and UST
- Total daily balance of LUNC and UST
- Total daily volume LUNC transfer
- Total daily volume UST transfer
- Cumulative number of LUNC transfers
- Cumulative number of UST transfers
- Total daily volume/number of transactions of LUNC in CEX
- Total daily volume/number of transactions of UST in CEX
- Top 5 LUNC transfer destinations by number of transfer
- Top 5 LUNC transfer destinations by volume
- Top 10 whales based on LUNC balance
- The behavior of whales
The data is from 2022-05-01.
Story of LUNA
There are two stories regarding Luna crypto: the TerraUSD/UST stablecoin and the actual Luna coin. Once Luna and UST crashed, there was a total liquidity crunch in the cryptocurrency space that caused an even more catastrophic loss of value.
A Luna coin was going for around $116 in April. On May 7, over $2 billion worth of UST was unstaked (taken off the Anchor Protocol), and hundreds of millions of it were quickly liquidated. The huge sell-offs brought down the price of UST to $0.91, from $1. As a result, traders started to change 90 cents worth of UST for $1 of Luna.
Total daily transfers of LUNC and UST by volume and number
:writing_hand: Observations
- The chart on the left shows the total daily transfer of LUNC based on the volume and cumulative number of transfers since 2022-05-01. The green bar shows the transfer volume and the cumulative black line shows the number of transfers.
- The chart on the left shows the total daily transfer of UST based on the volume and cumulative number of transfers since 2022-05-01. The green bar shows the transfer volume and the cumulative black line shows the number of transfers.
- On May 13, the largest volume of Luna transfer was about 11.3T LUNC.
- On May 8, we see a significant increase in the number of LUNC transfers and since May 13, this number has decreased a little.
- From May 8, the volume and number of UST transfers has increased dramatically.
Luna Classic (LUNC)
Luna Classic (LUNC) is the native coin of the old chain that has been rebranded as Terra Classic. It was launched on May 28, 2022, following the creation of the genesis block on the new chain after the fork.
Originally known as LUNA, LUNC retains all the properties of the original Terra Luna coin, and continues to act as a stabilizing mechanism for the Terra Classic stablecoin, TerraUSD (UST).
Burning LUNC
An extensive LUNC burn is underway after the governance proposal passed in late September, imposing a 1.2% tax on each transaction. The goal is to reduce the circulating supply and increase its demand.
- LUNC burn address:
terra1sk06e3dyexuq4shw77y3dsv480xv42mq73anxu
Top 5 LUNC transfer destinations
The behavior of whales
:writing_hand: Observations
- On May 13, the largest volume of transfer to CEX happened about 690B LUNCs. Maybe it can be said that users sold their LUNC due to fear.
- The highest number of transfers was on May 11, when the amount of inflow LUNC in CEX was more than the amount of outflow LUNC in CEX.
- The highest volume and number of UST transfers was on May 11, when the amount of outflow UST in CEX was more than the amount of inflow UST in CEX.
Since May 22, whales have started to increase LUNC's balance.Since May 26, whales have stopped buying and selling. It can be said that whales have been buyers.
On May 22, the largest number of LUNCs was burned, about 155.3M LUNCs.
It can be said that after the burning of the LUNC token, the whales have started to buy.
Conclusion
- On May 13, the largest volume of Luna transfer was about 11.3T LUNC.
- On May 8, we see a significant increase in the number of LUNC transfers and since May 13, this number has decreased a little.
- From May 8, the volume and number of UST transfers has increased dramatically.
- The highest number of transfers was on May 11, when the amount of inflow LUNC in CEX was more than the amount of outflow LUNC in CEX.
- The highest volume and number of UST transfers was on May 11, when the amount of outflow UST in CEX was more than the amount of inflow UST in CEX.
- Binance Wallet has been the most popular destination for users to transfer LUNC.
- Wallet terra18vnrzlzm2c4xfsx382pj2xndqtt00rvhu24sqe is the largest Luna whale with a balance of about 2.4T LUNCs.
- Since May 22, whales have started to increase LUNC's balance.Since May 26, whales have stopped buying and selling. It can be said that whales have been buyers.
- On May 22, the largest number of LUNCs was burned, about 155.3M LUNCs.It can be said that after the burning of the LUNC token, the whales have started to buy.
THANK YOU FOR READING!
Twitter: mohsen.dastpeyman
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ALL CODES AND CONTENTS WERE WRITTEN BY MOHSEN. I USED Ali3N Dashboard for Decoding Part**.**
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