🚀 SmartGo - {Daily Watchlist | 2024/1/22}
Have a wonderful weekend, Goweb3ers! In today's news: The end of Terra? 🌍 Who let the dogs out? 🐶 Read on!
Backgroud:
Today we have fetched serveral symbol from our SmartGo Platform and took research for each of them. We will share you Daily Watchlist you need to pay attentions recently.
1: The end of Terra? 🌍
An unfortunate ending to a tragic tale.
Just yesterday, Terraform Labs filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware.
According to the court filing, the company currently holds anywhere from $100M to $500M in estimated assets and liabilities, respectively.
Additionally, the filings also show that Terraform Labs has approximately 100 to 199 creditors.
As to why Terraform Labs had to go down this particular route, Chris Amani, the company’s CEO since July of last year, mentioned that ‘this action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding,’
While the news may seem rather sad, it would seem that the crypto market is not really surprised thus far.
4 hours after the news was made public on X and across various crypto news sites, Terra has fallen just 4.8% to $0.62, while Terra Luna Classic has fallen by 5.1% to $0.0001.
Editor’s Take:
It’s been more than 1.5 years since the collapse of Terra Classic, and with Do Kwon set to stand trial in the US, the saga of Terraform Labs may have reached its sad conclusion. However, there has been no official news yet regarding the ultimate fate of the Terra project, so we may just have to wait and see.
2: Who let the dogs out? 🐶
It’s no secret that Elon Musk really loves Dogecoin!
Following the creation of the XPayments account on X, which now has over 100,000 followers, Dogecoin rose to a weekly high of $0.089 before retreating back to $0.083.
Earlier in the month, X had stated that it plans to launch a peer-to-peer payments feature on its platform, with Musk adding that it could feature cryptocurrencies.
As such, it’s not farfetched to think that Dogecoin, along with other established cryptos, will be supported in such a feature, given Musk’s particular fondness for the canine-themed coin.
Should Dogecoin actually become a legitimate payment option on X, users would be able to pay DOGE for ads, subscriptions, and other features, bringing additional utility and further adoption for the cryptocurrency.
Not to be forgotten, the Floki memecoin, named after Elon Musk’s own pet dog, has also been making moves since the creation of the XPayments account.
FLOKI rose by 18.4% from $0.000029 to $0.000034 in the late hours of January 21st but has since retreated back to $0.00003.
The content in this Article is for informational purposes only and you should not make investment decisions based solely on it. This episode is not investment advice. You need always to do your own research and take the responsibility on your own investment!
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