Terra continues BTC purchases as native stablecoin UST becomes third-largest stablecoin<\/strong><\/h2>\r\n\r\n\r\n\r\nTerra, a blockchain project focused on the creation of algorithmic stablecoins, has continued to purchase Bitcoin for its stablecoin reserves. The latest purchase occurred on Friday and took the project\u2019s total BTC holdings to 42,530.<\/p>\r\n\r\n\r\n\r\n
In Mid-March the project\u2019s founder, Do Kwon confirmed that the project was aiming to acquire $10 billion<\/a> worth of BTC to act as a reserve for native stablecoins, such as TerraUSD (UST).\u00a0<\/p>\r\n\r\n\r\n\r\nSince that announcement, the Luna Foundation Guard, an organization tasked with managing Terra\u2019s reserves, has been acquiring Bitcoin at a rapid rate. Early purchases, worth several billions of dollars, began in late March and have continued through to April.<\/p>\r\n\r\n\r\n\r\n
The latest purchase on Friday was worth an estimated $5.1 million, equivalent to 127.68 BTC<\/a>, and followed a larger $880 million \u201cgift\u201d of LUNA, the project\u2019s native cryptocurrency. LUNA was transferred from Terraform Labs to the Luna Foundation Guard on Thursday and has since been swapped for the UST stablecoin.\u00a0\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\nAlongside Terra\u2019s BTC acquisition, the native US dollar stablecoin, UST, became the third-largest stablecoin<\/a> by market capitalization, surpassing Binance USD (BUSD) on Monday.<\/p>\r\n\r\n\r\n\r\nThe algorithmically-backed UST now commands a $17.6 billion market cap and stands behind Tether (USDT) and USD Coin (USDC) in the rankings. The market cap of UST is approximately 21% of the total market cap of USDT, which is still the world\u2019s leading stablecoin.\u00a0<\/p>\r\n\r\n\r\n\r\n
With a total market cap of $17.6 billion, UST is now the thirteenth largest digital asset globally, currently sitting just behind Polkadot (DOT). The purchases are bullish news for Bitcoin, as they demonstrate the key role of Bitcoin in locking in value in ongoing crypto development.<\/p>\r\n\r\n\r\n\r\n![\"Bitcoin](\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/btc-1500-black-1024x576.jpg\")
<\/figure>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n
Fidelity Investments creates cryptocurrency and metaverse ETFs<\/strong><\/h2>\r\n\r\n\r\n\r\nOne of the world\u2019s largest investment firms, Fidelity Investments, has confirmed that it will be launching brand new exchange-traded funds (ETFs) that focus on both cryptocurrencies and the metaverse.<\/p>\r\n\r\n\r\n\r\n
According to a press release<\/a> on Tuesday, the firm will launch two brand new ETFs which will be called Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET). Alongside two ETFs, the investment firm will also launch five new fixed income sustainable funds and ETFs.\u00a0<\/p>\r\n\r\n\r\n\r\nThe Fidelity Crypto Industry and Digital Payments ETF (FDIG) will offer users the opportunity to gain exposure to companies that are involved with the development of the cryptocurrency ecosystem. This will include trading, cryptocurrency mining, blockchain technology, and digital payment companies.\u00a0<\/p>\r\n\r\n\r\n\r\n
In comparison, the Fidelity Metaverse ETF is intended to help investors gain access to all aspects of the manufacture and establishment of the digital metaverse.<\/p>\r\n\r\n\r\n\r\n
Within the press release, Fidelity\u2019s Head of ETF Management & Strategy, Greg Freidman, explained that \u201cLeveraging Fidelity\u2019s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value, and new opportunities to investors. We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.\u201d<\/p>\r\n\r\n\r\n\r\n
Fidelity Investment\u2019s new products are scheduled to be launched on or just after 21 April 2022.\u00a0<\/p>\r\n\r\n\r\n\r\n![\"a](\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/fidelity-1024x683.jpg\")
<\/figure>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n
Ripple CEO confirms that XRP lawsuit has gone extremely well<\/strong><\/h2>\r\n\r\n\r\n\r\nDuring an interview<\/a> at the Paris Blockchain Week Summit, Brad Garlinghouse, the CEO of Ripple stated that the ongoing lawsuit had gone far better than he could have hoped when the court case began 15 months ago.\u00a0<\/p>\r\n\r\n\r\n\r\nA lawsuit was brought to Ripple by the Securities and Exchange Commission (SEC) in December 2020. At the time, the SEC argued that Ripple had completed illegal securities offerings of XRP. XRP is the native cryptocurrency of the XRP Ledger, however, the coin is also used for commercial purposes by Ripple. Ripple\u2019s Founders, Garlinghouse and Chris Larsen have always denied any wrongdoing.<\/p>\r\n\r\n\r\n\r\n
The positive statement from Garlinghouse at Blockchain Week may have been prompted by a small win in the lawsuit which occurred at the start of the week. On Monday a judge ruled that the SEC could not edit the contents of emails that highlighted there were conflicts of interest between how the organization dealt with XRP<\/a> and other cryptocurrencies such as ETH<\/a>.<\/p>\r\n\r\n\r\n\r\nGarlinghouse stated that the ongoing lawsuit was far bigger than just Ripple and XRP. \u201cThis case is important, not just for Ripple; it\u2019s important for the entire crypto industry in the United States. It would really be negative for crypto in the United States.\u201d<\/p>\r\n\r\n\r\n\r\n
He continued, \u201cif Ripple loses, most tokens trading on platforms in the U.S. would be deemed securities meaning those platforms would have to register with the SEC as broker-dealers. That\u2019s cost, that\u2019s friction. If you determine XRP as a security of Ripple, we have to know every person that owns XRP. That\u2019s an SEC requirement. You have to know all of your shareholders. It\u2019s not possible.\u201d<\/p>\r\n\r\n\r\n\r\n![\"XRP](\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/xrp-hammer-1500-1024x512.jpg\")
<\/figure>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n
Ethereum Merge postponed to Q3\/Q4<\/strong><\/h2>\r\n\r\n\r\n\r\nThe Merge, which is the name given to the moment that Ethereum will transition from a Proof-of-Work blockchain to Proof-of-Stake<\/a>, has been postponed by Ethereum developers.\u00a0<\/p>\r\n\r\n\r\n\r\nAccording to the Ethereum website<\/a>, although the Merge had been scheduled to take place in Q2 2022, the Merge has now been pushed back to Q3\/Q4 of 2022. No firm date has yet been provided.<\/p>\r\n\r\n\r\n\r\nThe news was initially announced by Tim Beiko, one of Ethereum\u2019s core developers. After releasing a development update for the blockchain, Beiko confirmed<\/a> that \u201cIt [the Merge] won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum\u201d<\/p>\r\n\r\n\r\n\r\nAlthough frustrated by news that the upgrade had once again been postponed, several community members and institutions still theorize that the Merge will have a positive impact on the price of ETH. In early April, analysts at Bloomberg Intelligence<\/a> released a discounted cash flow model for ETH, which estimated that ETH could reach $9,000 in the most optimistic scenario.<\/p>\r\n\r\n\r\n\r\nIn addition to the pushback of the Merge, Ethereum experienced a significant increase in mining activity as miners try to capture as much profitability before the network transfers to PoS. Alongside notice that the Merge was postponed, Beiko also warned against users purchasing Ethereum mining equipment, hinting that the equipment will become redundant within the year.<\/p>\r\n\r\n\r\n\r\n![\"A](\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/ether-coins-1500-1024x683.jpg\")
<\/figure>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n
To stay up to date on all things crypto, like Xcoins on <\/em>Facebook<\/em><\/a>, and follow us on <\/em>Twitter<\/em><\/a>, <\/em>Instagram<\/em><\/a>, and <\/em>LinkedIn<\/em><\/a>.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":"In a week where leaders from the cryptocurrency industry converged for the Blockchain Week Summit in Paris, one of the […]<\/p>\n","protected":false},"author":22,"featured_media":5059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-5050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-2"],"yoast_head":"\n
Terra Increases Bitcoin Holdings I Xcoins<\/title>\n<meta name=\"description\" content=\"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin\" \/>\n<meta property=\"og:description\" content=\"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/\" \/>\n<meta property=\"og:site_name\" content=\"Xcoins\u2122 Official\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/xcoinsofficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-20T08:18:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-29T13:15:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Manu Prieto\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@realxcoins\" \/>\n<meta name=\"twitter:site\" content=\"@realxcoins\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Manu Prieto\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/\"},\"author\":{\"name\":\"Manu Prieto\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/person\\\/c1b32f7c5176e8b2b1bd8986fbfa05d9\"},\"headline\":\"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin\",\"datePublished\":\"2022-04-20T08:18:13+00:00\",\"dateModified\":\"2023-08-29T13:15:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/\"},\"wordCount\":1221,\"commentCount\":1,\"publisher\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/terra-usd-fb.jpg\",\"articleSection\":[\"Crypto News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/\",\"name\":\"Terra Increases Bitcoin Holdings I Xcoins\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/terra-usd-fb.jpg\",\"datePublished\":\"2022-04-20T08:18:13+00:00\",\"dateModified\":\"2023-08-29T13:15:43+00:00\",\"description\":\"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#primaryimage\",\"url\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/terra-usd-fb.jpg\",\"contentUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/terra-usd-fb.jpg\",\"width\":1200,\"height\":627,\"caption\":\"Golden Terra Luna coin surrounding by orange and red digital graphics\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/blog\\\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\",\"name\":\"Xcoins\u2122 Official\",\"description\":\"Buy and Sell Crypto Instantly\",\"publisher\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/xcoins.com\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#organization\",\"name\":\"xcoins.com\",\"url\":\"https:\\\/\\\/xcoins.com\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/xcoins-logo.png\",\"contentUrl\":\"https:\\\/\\\/xcoins.com\\\/wp-content\\\/uploads\\\/2022\\\/01\\\/xcoins-logo.png\",\"width\":559,\"height\":559,\"caption\":\"xcoins.com\"},\"image\":{\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/xcoinsofficial\\\/\",\"https:\\\/\\\/x.com\\\/realxcoins\",\"https:\\\/\\\/www.instagram.com\\\/xcoins.hq\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/realxcoins\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/xcoins.com\\\/en\\\/#\\\/schema\\\/person\\\/c1b32f7c5176e8b2b1bd8986fbfa05d9\",\"name\":\"Manu Prieto\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g\",\"caption\":\"Manu Prieto\"},\"description\":\"Crypto and Payments enthusiast who has dedicated over 20 years to studying financial markets and technical analysis. Technology is my profession and investment is my passion.\",\"sameAs\":[\"https:\\\/\\\/www.linkedin.com\\\/in\\\/manuel-prieto-hernandez-beng-bsc-mba-5525889\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Terra Increases Bitcoin Holdings I Xcoins","description":"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/","og_locale":"en_US","og_type":"article","og_title":"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin","og_description":"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.","og_url":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/","og_site_name":"Xcoins\u2122 Official","article_publisher":"https:\/\/www.facebook.com\/xcoinsofficial\/","article_published_time":"2022-04-20T08:18:13+00:00","article_modified_time":"2023-08-29T13:15:43+00:00","og_image":[{"width":1200,"height":627,"url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg","type":"image\/jpeg"}],"author":"Manu Prieto","twitter_card":"summary_large_image","twitter_creator":"@realxcoins","twitter_site":"@realxcoins","twitter_misc":{"Written by":"Manu Prieto","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#article","isPartOf":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/"},"author":{"name":"Manu Prieto","@id":"https:\/\/xcoins.com\/en\/#\/schema\/person\/c1b32f7c5176e8b2b1bd8986fbfa05d9"},"headline":"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin","datePublished":"2022-04-20T08:18:13+00:00","dateModified":"2023-08-29T13:15:43+00:00","mainEntityOfPage":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/"},"wordCount":1221,"commentCount":1,"publisher":{"@id":"https:\/\/xcoins.com\/en\/#organization"},"image":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#primaryimage"},"thumbnailUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg","articleSection":["Crypto News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/","url":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/","name":"Terra Increases Bitcoin Holdings I Xcoins","isPartOf":{"@id":"https:\/\/xcoins.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#primaryimage"},"image":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#primaryimage"},"thumbnailUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg","datePublished":"2022-04-20T08:18:13+00:00","dateModified":"2023-08-29T13:15:43+00:00","description":"Tesla increases BTC holdings, Fidelity Investment confirms metaverse ETF, Ripple\u2019s CEO expresses optimism over XRP lawsuit, and Ethereum postpones the Merge until at least Q3.","breadcrumb":{"@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#primaryimage","url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg","contentUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/04\/terra-usd-fb.jpg","width":1200,"height":627,"caption":"Golden Terra Luna coin surrounding by orange and red digital graphics"},{"@type":"BreadcrumbList","@id":"https:\/\/xcoins.com\/en\/blog\/terra-increases-bitcoin-holdings-to-42530-btc-as-ust-becomes-third-largest-stablecoin\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/xcoins.com\/en\/"},{"@type":"ListItem","position":2,"name":"Terra Increases Bitcoin Holdings To 42,530 BTC as UST Becomes Third-Largest Stablecoin"}]},{"@type":"WebSite","@id":"https:\/\/xcoins.com\/en\/#website","url":"https:\/\/xcoins.com\/en\/","name":"Xcoins\u2122 Official","description":"Buy and Sell Crypto Instantly","publisher":{"@id":"https:\/\/xcoins.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/xcoins.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/xcoins.com\/en\/#organization","name":"xcoins.com","url":"https:\/\/xcoins.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/xcoins.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/01\/xcoins-logo.png","contentUrl":"https:\/\/xcoins.com\/wp-content\/uploads\/2022\/01\/xcoins-logo.png","width":559,"height":559,"caption":"xcoins.com"},"image":{"@id":"https:\/\/xcoins.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/xcoinsofficial\/","https:\/\/x.com\/realxcoins","https:\/\/www.instagram.com\/xcoins.hq\/","https:\/\/www.linkedin.com\/company\/realxcoins\/"]},{"@type":"Person","@id":"https:\/\/xcoins.com\/en\/#\/schema\/person\/c1b32f7c5176e8b2b1bd8986fbfa05d9","name":"Manu Prieto","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/822c502881c7aed8e4cdc0bdc1e3a607d2849abe6563a31480d1806894a600d3?s=96&d=mm&r=g","caption":"Manu Prieto"},"description":"Crypto and Payments enthusiast who has dedicated over 20 years to studying financial markets and technical analysis. Technology is my profession and investment is my passion.","sameAs":["https:\/\/www.linkedin.com\/in\/manuel-prieto-hernandez-beng-bsc-mba-5525889\/"]}]}},"_links":{"self":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts\/5050","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/comments?post=5050"}],"version-history":[{"count":0,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/posts\/5050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/media\/5059"}],"wp:attachment":[{"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/media?parent=5050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/categories?post=5050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xcoins.com\/en\/wp-json\/wp\/v2\/tags?post=5050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Since that announcement, the Luna Foundation Guard, an organization tasked with managing Terra\u2019s reserves, has been acquiring Bitcoin at a rapid rate. Early purchases, worth several billions of dollars, began in late March and have continued through to April.<\/p>\r\n\r\n\r\n\r\n
The latest purchase on Friday was worth an estimated $5.1 million, equivalent to 127.68 BTC<\/a>, and followed a larger $880 million \u201cgift\u201d of LUNA, the project\u2019s native cryptocurrency. LUNA was transferred from Terraform Labs to the Luna Foundation Guard on Thursday and has since been swapped for the UST stablecoin.\u00a0\u00a0\u00a0<\/p>\r\n\r\n\r\n\r\n Alongside Terra\u2019s BTC acquisition, the native US dollar stablecoin, UST, became the third-largest stablecoin<\/a> by market capitalization, surpassing Binance USD (BUSD) on Monday.<\/p>\r\n\r\n\r\n\r\n The algorithmically-backed UST now commands a $17.6 billion market cap and stands behind Tether (USDT) and USD Coin (USDC) in the rankings. The market cap of UST is approximately 21% of the total market cap of USDT, which is still the world\u2019s leading stablecoin.\u00a0<\/p>\r\n\r\n\r\n\r\n With a total market cap of $17.6 billion, UST is now the thirteenth largest digital asset globally, currently sitting just behind Polkadot (DOT). The purchases are bullish news for Bitcoin, as they demonstrate the key role of Bitcoin in locking in value in ongoing crypto development.<\/p>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n One of the world\u2019s largest investment firms, Fidelity Investments, has confirmed that it will be launching brand new exchange-traded funds (ETFs) that focus on both cryptocurrencies and the metaverse.<\/p>\r\n\r\n\r\n\r\n According to a press release<\/a> on Tuesday, the firm will launch two brand new ETFs which will be called Fidelity Crypto Industry and Digital Payments ETF (FDIG) and Fidelity Metaverse ETF (FMET). Alongside two ETFs, the investment firm will also launch five new fixed income sustainable funds and ETFs.\u00a0<\/p>\r\n\r\n\r\n\r\n The Fidelity Crypto Industry and Digital Payments ETF (FDIG) will offer users the opportunity to gain exposure to companies that are involved with the development of the cryptocurrency ecosystem. This will include trading, cryptocurrency mining, blockchain technology, and digital payment companies.\u00a0<\/p>\r\n\r\n\r\n\r\n In comparison, the Fidelity Metaverse ETF is intended to help investors gain access to all aspects of the manufacture and establishment of the digital metaverse.<\/p>\r\n\r\n\r\n\r\n Within the press release, Fidelity\u2019s Head of ETF Management & Strategy, Greg Freidman, explained that \u201cLeveraging Fidelity\u2019s decades of investment expertise, we are focused on growing our broad product lineup with innovative strategies that offer choice, value, and new opportunities to investors. We continue to see demand, particularly from young investors, for access to the rapidly growing industries in the digital ecosystem, and these two thematic ETFs offer investors exposure in a familiar investment vehicle.\u201d<\/p>\r\n\r\n\r\n\r\n Fidelity Investment\u2019s new products are scheduled to be launched on or just after 21 April 2022.\u00a0<\/p>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n During an interview<\/a> at the Paris Blockchain Week Summit, Brad Garlinghouse, the CEO of Ripple stated that the ongoing lawsuit had gone far better than he could have hoped when the court case began 15 months ago.\u00a0<\/p>\r\n\r\n\r\n\r\n A lawsuit was brought to Ripple by the Securities and Exchange Commission (SEC) in December 2020. At the time, the SEC argued that Ripple had completed illegal securities offerings of XRP. XRP is the native cryptocurrency of the XRP Ledger, however, the coin is also used for commercial purposes by Ripple. Ripple\u2019s Founders, Garlinghouse and Chris Larsen have always denied any wrongdoing.<\/p>\r\n\r\n\r\n\r\n The positive statement from Garlinghouse at Blockchain Week may have been prompted by a small win in the lawsuit which occurred at the start of the week. On Monday a judge ruled that the SEC could not edit the contents of emails that highlighted there were conflicts of interest between how the organization dealt with XRP<\/a> and other cryptocurrencies such as ETH<\/a>.<\/p>\r\n\r\n\r\n\r\n Garlinghouse stated that the ongoing lawsuit was far bigger than just Ripple and XRP. \u201cThis case is important, not just for Ripple; it\u2019s important for the entire crypto industry in the United States. It would really be negative for crypto in the United States.\u201d<\/p>\r\n\r\n\r\n\r\n He continued, \u201cif Ripple loses, most tokens trading on platforms in the U.S. would be deemed securities meaning those platforms would have to register with the SEC as broker-dealers. That\u2019s cost, that\u2019s friction. If you determine XRP as a security of Ripple, we have to know every person that owns XRP. That\u2019s an SEC requirement. You have to know all of your shareholders. It\u2019s not possible.\u201d<\/p>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n The Merge, which is the name given to the moment that Ethereum will transition from a Proof-of-Work blockchain to Proof-of-Stake<\/a>, has been postponed by Ethereum developers.\u00a0<\/p>\r\n\r\n\r\n\r\n According to the Ethereum website<\/a>, although the Merge had been scheduled to take place in Q2 2022, the Merge has now been pushed back to Q3\/Q4 of 2022. No firm date has yet been provided.<\/p>\r\n\r\n\r\n\r\n The news was initially announced by Tim Beiko, one of Ethereum\u2019s core developers. After releasing a development update for the blockchain, Beiko confirmed<\/a> that \u201cIt [the Merge] won’t be June, but likely in the few months after. No firm date yet, but we’re definitely in the final chapter of PoW on Ethereum\u201d<\/p>\r\n\r\n\r\n\r\n Although frustrated by news that the upgrade had once again been postponed, several community members and institutions still theorize that the Merge will have a positive impact on the price of ETH. In early April, analysts at Bloomberg Intelligence<\/a> released a discounted cash flow model for ETH, which estimated that ETH could reach $9,000 in the most optimistic scenario.<\/p>\r\n\r\n\r\n\r\n In addition to the pushback of the Merge, Ethereum experienced a significant increase in mining activity as miners try to capture as much profitability before the network transfers to PoS. Alongside notice that the Merge was postponed, Beiko also warned against users purchasing Ethereum mining equipment, hinting that the equipment will become redundant within the year.<\/p>\r\n\r\n\r\n\r\n <\/p>\r\n\r\n\r\n\r\n To stay up to date on all things crypto, like Xcoins on <\/em>Facebook<\/em><\/a>, and follow us on <\/em>Twitter<\/em><\/a>, <\/em>Instagram<\/em><\/a>, and <\/em>LinkedIn<\/em><\/a>.<\/em><\/p>\r\n","protected":false},"excerpt":{"rendered":" In a week where leaders from the cryptocurrency industry converged for the Blockchain Week Summit in Paris, one of the […]<\/p>\n","protected":false},"author":22,"featured_media":5059,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-5050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-2"],"yoast_head":"\n<\/figure>\r\n\r\n\r\n\r\nFidelity Investments creates cryptocurrency and metaverse ETFs<\/strong><\/h2>\r\n\r\n\r\n\r\n
<\/figure>\r\n\r\n\r\n\r\nRipple CEO confirms that XRP lawsuit has gone extremely well<\/strong><\/h2>\r\n\r\n\r\n\r\n
<\/figure>\r\n\r\n\r\n\r\nEthereum Merge postponed to Q3\/Q4<\/strong><\/h2>\r\n\r\n\r\n\r\n
<\/figure>\r\n\r\n\r\n\r\n