Cardano, Terra, Polkadot: Towards the collapse of ecosystems?



Investing.com -, and all register gains on Tuesday, January 11, 2022. ADA / USD increases 3.02% to $ 1.1557, while the records a gain of 6.35% to $ 72.33 and that the increase of 3.01% to 24.27 dollars.

Cardano update angering Coinbase users

Cardano recently updated the Trezor Connect dependency, which caused unexpected issues. One of the most obvious was the inability for users to Coinbase Global Inc (NASDAQ 🙂 to file or withdraw ADAs since January 7.

Both Coinbase developers and Cardano specialists are currently investigating the cause.

Terra: the ecosystem threatens to collapse

We know that all that glitters is not gold, just as we know that big returns come with risk. In Terra’s case, it’s nothing less than the collapse of the entire ecosystem that’s at stake.

UST was originally designed as a decentralized stablecoin to compensate for possible losses in value of LUNA. But greed for big returns from stablecoin yield farming makes terra-governance reckless. The stability of the ecosystem is sacrificed for the benefit of yields.

The number of USTs in circulation is increasing rapidly. While UST market capitalization was still 12% of LUNA two months ago, it is now 36%. If LUNA were to continue to lose value, panic sales could cause the entire ecosystem to collapse.

The stablecoin Titan showed this summer that this is not a purely theoretical issue. It went from 64 dollars to less than a cent and even the American billionaire Mark Cuban, who was also invested, saw nothing coming.

Polkadot: Glimmer is listed on Binance

The Moonbeam project, based on a Polkadot parachine, has reached a new stage. The Glimmer utility and governance token, issued by Moonbeam, will be listed on Binance later today. The first pairs available are GLMR / BTC, GLMR / BUSD and GLMR / USDT.

By Marco Oehrl

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