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On February 8, the median U.S. 1-year inflation forecast rose to its highest level since November 2023. Capital Economics assistant economist Ruben Gargallo Abergus wrote: "This at least adds another reason for the Fed to remain cautious and suspend the easing cycle for a while." Higher inflation expectations are not the only inflation headwinds the Fed is currently facing. Wage growth continued to exceed expectations in January, which could push up inflation in the service sector. Economists expect Fed officials to keep interest rates unchanged at the March 18-19 policy meeting, and may even extend the suspension of rate cuts at the June meeting.The Israeli military says it has struck a Hamas weapons depot in Syria.According to Iranian state media reports, Irans Supreme Leader Khamenei met with visiting senior Hamas leaders in Tehran.On February 8, four large model application products under Baidu Smart Cloud, namely Keyue, Xiling, Yijian and Zhenzhi, were officially launched with access to the new version of the DeepSeek model.On February 8, according to Nikkei Chinese, Japans soaring food prices are dragging down personal consumption. The results of the household survey of the Ministry of Internal Affairs and Communications of Japan showed that consumer spending in 2024 actually decreased by 1.1% year-on-year. The "Engel coefficient", which indicates the proportion of food in consumer spending, is 28.3%, a 43-year high. Monthly spending in December 2024 actually increased by 2.7%, and consumption showed a recovery trend. From the perspective of the composition of consumer spending in 2024, the negative factors that actually contributed the most to consumer spending are transportation and communications, which actually decreased by 4.1% year-on-year. Due to the exposure of certification violations by some Japanese automakers, automobile production was suspended for a time, affecting consumption.

Within 72 Hours Since Its Launch, Terra LUNA 2.0 Crashes by 55%

Jimmy Khan

May 31, 2022 14:39

微信截图_20220531143112.png


Do Kwon and Terraform Labs' revival of Terra wasn't well accepted by investors.


Terra's collapse will be regarded as the worst crypto tragedy, but the blockchain's crew isn't giving up.


Terraform Labs issued Terra 2.0 three days ago to bring back investors, but investors have a different agenda for the coin.

Terra LUNA 2.0 Launch Flop

Terra 2.0, launched with a circulating supply of 210 million LUNA and a max supply of 1 billion LUNA, reinitiated the blockchain and brought back all the DeFi protocols.


Terra started airdropping tokens to investors who owned LUNA classic (LUNC). Terra tweeted about the numerous uses for new LUNA, including staking it on Terra Station to receive incentives and participate in governance choices, utilizing it on dApps upon launch, and exchanging it on an exchange.


Almost every major cryptocurrency exchange backed LUNA's listing. Binance airdropped tokens to users depending on their holdings.


Investors weren't pleased. Most customers were ineligible for the new LUNA airdrop since they sold it when the price fell on May 5.


Most had left the LUNC market before the new strategy was unveiled.


Those still holding LUNC are dumping the new LUNA token as soon as they get it.

New crash cause

LUNA crashed during the previous 72 hours due to the dumping. The cryptocurrency launched at $17.8 and rose to $19.5 before plummeting to $4.19.


The price has rebounded marginally in the previous 24 hours, but it's still 57% below debut, at $8.4.


It's too early to tell whether Terra can recover from the current hardship and restore investors' trust, but it will take a long time to reach its previous highs.

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