Quite a lot of money has been flowing into crypto lately, with funding rounds of more than $100 million becoming a relatively common occurrence in the crypto world. However, a recent over-the-counter (OTC) token sale took this fundraising tradition to another level.
As a result, crypto analytics firm Santiment has raised $1 billion in a private token sale for Luna Foundation Guard (LFG), powered by the Terra ecosystem.erra (LUNA) published its forecast.
The Luna Foundation Guard (LFG), a nonprofit designed to support the Terra and Terra network, the Three Arrows Capital, led part-time by Ethereum critic Su Zhu, and the Solana cross-chain bridge Wormhole were unified after a $320 million hack. Announcing the $1 billion LUNA token sale led by trading group Jump Crypto.
According to the Singapore-based nonprofit, the proceeds from this sale, which is one of the largest token sales in crypto history, are based on Terra’s dollar-pegged stablecoin. TerraUSD (UST) He says it will be used to create a forex reserve in Bitcoin (BTC) for
1/ The long awaited [REDACTED] 💎3 is here!
📣 The Luna Foundation Guard (LFG) has closed a $1 billion private token sale to establish a decentralized $UST Forex Reserve denominated in $BTC! 📣
🧵👇
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) February 22, 2022
At the time of writing, LUNA is down 44 percent from its all-time highs of around $100, which it reached in December. at $57.96 It is trading, but Santiment believes the token will likely experience bullishness as a result of signals from the social dominance metric.
Social dominance measures how popular a particular crypto asset is compared to other crypto projects over a given time frame. Typically, crypto assets that receive more media attention change their price direction faster.
According to Santiment, Luna’s social dominance is at six-month highs despite the bearish trend from traders. According to the behavioral analysis platform, the increasing discussion/talk about altcoin shows that LUNA is on the right track.
“LUNA holds the 11th position (9th at the time of writing) on the list of cryptocurrencies. [Altcoin] It gained a huge fan base in 2021 and remains an intriguing topic despite its 3-month decline. It currently has the highest discussion/talk percentage since October, marking an impending comeback.”
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