Two Crypto Users Bet On $1M Whether LUNA Will Rise Or Drop

Two crypto users bet on $1 million whether the LUNA price will increase or will lower by the end of the year so let’s take a closer look at our latest crypto news today.

Although many were expecting the developments to be quite interested in the crypto space, it is not every day that we see two crypto users bet on the future price of LUNA which is exactly what happened hours ago. The two crypto users decided to bet on LUNA’s price and one of them that uses the Twitter pseudonym AglodTrading said that he is willing to bet $1 million that the price of LUNA will get lower than it is in a year’s time.

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Who wants to take a $1000000 bet that $luna will be lower price in 1 year than now? @stablekwon @CryptoHarry_ @ZeMariaMacedo

— Sensei Algod (@AlgodTrading) March 13, 2022

While it could seem like a lot of money to wager on a bet of this kind, it didn’t take long for Do Kwon, Terra’s founder, to take it up. Kwon proposed to bet where UST is not de-pegged the same time next year and gave 2:1 odds for it but it doesn’t seem that his last bet was taken at the time of writing. Both of the parties however greeted on the following terms: Next year the same dame, If the price of LUNA on Coingecko is higher than 88 the one with the $1M will give the LUNA to the winner, of course, if there’s a winner. They agreed for the 24-hour average price of LUNA on March 14^th, 2023 to be the deciding factor so the money is already sent and the address can also be tracked.

Also, data shows that Terra surpassed Ethereum to become the second most staked asset which now has more than $28 billion in total value locked. According to the data report, the Terra crypto project has over 226,325 stakers and accounted for $29.5 billion worth of LUNA tokens that were staked which is how the token was pushed to second place and surpassed Ethereum. LUNA is evaluated to reward the users with an average of 6.62% of the investments for annual staking revenues but ETH offers 4.81% in staking rewards that are lower than Terra’s staking incentives.

Do Kwon, as the founder of Terraform Labs, which develops the blockchain ecosystem on TErra Luna, and the UST stablecoin, announced that Terraform labs donated $1B to the Luna Foundation Guard. It launched in January to grow the Terra ecosystem and to improve the sustainability of the stablecoins. Kwon noted that the funds denominated in LUNA will be burned to mint UST and grow the LFG reserves