Crypto Flipsider News — Cryptos Recover; Morgan Creek Counters FTX; Goldman Sachs to Buy Celsius; Cardano Update; SHIBA Burn
Read in the Digest:
Bitcoin and Ethereum sustain gains — Terra Classic (LUNC) spikes 50%.
Morgan Creek is preparing to counter FTX’s $250 million BlockFi bailout.
Goldman Sachs plans to raise $2 billion to buy Celsius Network assets.
IOG releases “Final Candidate” for the Cardano mainnet ‘Vasil’ hard fork.
Shiba Inu fails to meet weekly 1 billion burn average — burns 565M SHIB.
Bitcoin and Ethereum Sustain Gains, Terra Classic (LUNC) Spikes 50%
Over the last week, the price of Bitcoin has shot up by more than 11%, hitting an interday high of $21,480 after dropping as low as $18k. Bitcoin now trades at $20,900 at the time of writing, losing 2% of its gains over the last 24 hours.
The 7 day price chart for Bitcoin (BTC). Source: CoinMarketCap
Ethereum has showed an even more impressive recovery than Bitcoin, gaining almost 20% over the same period. The price boost helped ETH hit a high of $1,272, up from a weekly low of $1,040. ETH now trades at $1,200 at the time of writing, though it shed 3% over the last 24 hours.
The 7 day price chart for Ethereum (ETH). Source: CoinMarketCap
The biggest surprise of the crypto market rally has been Terra Classic (LUNC) — the original Terra token which was abandoned in favor of Terra 2.0.
LUNC has gained in value by 50% over the last 24 hours, and more than 61% in the last week, outperforming both Bitcoin and Ethereum.