According to the current Bitcoin rate, the newest BTC inflows to the bitcoin address associated with the Luna Foundation Guard (LFG) have verified the acquisition of an additional 2,940 BTC worth over $140 million.
Prior to the transaction, the Luna Foundation acquired around $140 million USDT as a buy money through its Binance address, according to WuBlockchain. The blockchain data given by BitInfoCharts indicates collected BTC worth more than $1.44 billion with a total of 69 transactions completed between January 21st, 2022 and March 30th, 2022.
As of now, the BTC address associated with the Luna Foundation contains 30,727.9 BTC, making it the 32nd most valuable BTC address. While distributing its LUNA tokens, the group has actively depended on its fundraising initiatives to recruit new members.
The money are actively converted to BTC as the primary asset needed to keep its UST stablecoin stable. The implementation of novel algorithmic solutions is the most effective method of controlling the quantity of stablecoins in circulation, allowing the organization to satisfy the needs of all users.
The Luna Foundation’s reserves must be expanded in order for it to continue to fund its UST and LUNA programs. On the one hand, large BTC reserves ensure the company’s capacity to satisfy its financial commitments regardless of fluctuations in UST/BTC exchange rates. The funds’ interest in its tokens, on the other hand, adds to increased demand among corporate and private investors.
As the demand for LUNA grows, the group is expected to raise more cash and enhance its reserves even further. As a result, both the stablecoin and cryptocurrency markets may develop in a balanced manner. The price dynamics seen in recent months suggest that LUNA is one of the top-10 gainers, having burst through a new all-time high yesterday.