LUNA 2.0 crashes ~70% within hours of launch

The recovery plan after the collapse of Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA) started on a rocky path. The LUNA 2.0 crypto token suffered a huge price correction hours after its launch. According to CoinMarketCap, the token plunged nearly 70% to $5.45 from its launch price of $17.8.

The crash comes after Terra Labs distributed the LUNA 2.0 tokens to investors who held LUNA Classic (LUNC) and TerraUSD (UST). The token was airdropped on May 28, with a maximum circulating supply capped at 1 billion. 

Crypto prices today: Bitcoin rises 5.6%, ETH up 6.7%

Bitcoin is currently trading at $30,613.67, a 5.6% increase over the previous day. Ethereum rose 6.87% over the last 24 hours to $1,902.3. Solana jumped 9.75% to $46.63, while Cardano is trading higher by 12% at $0.52. Avalanche (AVAX) jumped 12% to $27.6. The global crypto market cap stands at $1.27 trillion, a 5.86% increase over the previous day.

Nike’s RTFKT buys ‘DotSwoosh’ Ethereum domain name for $35K

Nike’s Web3 arm, RTFKT, has acquired Ethereum Name Service (ENS) domains following the purchase of dotswoosh.eth for 19.72 ETH (~$35,000). As per reports, Nike may have plans to use the domain for issuing ENS subdomains in the future. The company could allow holders of specific NFTs or other assets the ability to register an ENS subdomain under dotswoosh.eth.

SpaceX will join Tesla in accepting dogecoin ‘soon,’: Elon Musk

Popular crypto meme token Dogecoin will soon be accepted by SpaceX, announced Elon Musk via a Tweet. Products on the SpaceX website, including “Occupy Mars” t-shirts and spacesuit onesies, were still listed in dollars as of Saturday. SpaceX is a spacecraft engineering company based in California.

Crypto asset management platform Kassio launches operations in India

Global crypto asset management platform Kassio launched its operations in India on Monday. The platform offers proprietary crypto architecture powered by best-in-class wallet security, anti-money laundering mechanisms, and exchange partners. It provides a unified solution wherein users can earn, borrow, shop, or trade crypto.