The Luna Foundation reportedly sent $1.1 billion worth of BTC to another anonymous address ending in 50tv4q.
The Bitcoin address (bc1q9d4ywgfnd8h43da5tpcxcn6ajv590cg6d3tg6axemvljvt2k76zs50tv4q) has deposited nearly 24,955 BTC worth more than $1.1 billion. Market suspects it is the address of Luna Foundation, which has raised $2.2 billion for its bitcoin reserves. https://t.co/ex7yM1CWx0
Previously, the Luna Foundation announced that it had raised $2.2 billion for its Bitcoin reserves. If the fund indeed owns the wallet, it already contains 50% of the proceeds. It is unclear whether the other part of the funds will be transferred to the same wallet or a different address.
The founder of Terra (LUNA) has revealed that the Luna Foundation Guard has successfully raised $2.2 billion to create a private Bitcoin reserve for the UST stablecoin behind the network. $1 billion was raised through a private sale.
Recently, we both know the fund’s plan to buy large amounts of BTC at a rate of $125 million per day. The total volume of funds purchased was not disclosed, but it will likely be close to $2.2 billion.
Supposedly, the markets reacted positively to such a trend as the price of the first cryptocurrency surged to $45,000 and reached the strong resistance line of the ascending range, where BTC remained for more than a month.
BTC/USD 4-hour chart | Source: TradingView
At press time, Bitcoin is trading at $44,871 and has not yet broken out, suggesting that there is not enough buying power to push the cryptocurrency out of the range. According to the volume indicator, unfortunately, the weekend’s volume was significantly lower than the average trading volume for the week.