• Terraform Labs has donated 10 million LUNA to Luna Foundation Guard, which is approximately $820 million in current price.
• TFL has donated $1.1 million worth of LUNA in less than a month. This money will be used to grow the reserves and mint UST.
• The 9th largest cryptocurrency in market capital has yet to see the recent bullish announcements.

Terraform Labs (TFL), which is (LUNA) the blockchain developer, donated 10,000,000 LUNA to Luna Foundation Guard. This amount amounts roughly $820million at current prices. Just over a month ago, TFL gave $1.1 billion in LUNA for the Luna Foundation Guard to burnt to make UST or grow its reserves.

Terraform Labs’ latest announcement was made on Twitter (NYSE 🙂 on April 14. The announcement did not explain how the funds were used. Transaction data from Terra Finder does show that 7.8 million LUNA, approximately $630 million, was transferred out of the LFG’s reserve wallet yesterday, just shortly after the funds were transferred.

Many in the project’s community expect that some of the funds will go towards building Terra’s stash of , given that the project’s founder, Do Kwon, has led the way in the mission to accrue $10 billion worth of Bitcoin (BTC) to back the UST’s reserves. Another portion of LUNA could be burned in order to maintain UST’s peg to the dollar.

LFG’s accounting records show that its total reserve balance is at $2.44 billion, with Bitcoin representing an estimated 70% of that total – approximately $1.71 billion.

LUNA news does not have an effect on the falling price. Source: CoinMarketCap

CoinMarketCap has shown that the latest bullish announcements are yet to have an effect on the current price of the 9th most valuable coin according to market cap. LUNA’s price has fallen just over 21% in the last 30 days and 7.91% in the last 24 hours – leaving the price at $81.45 at the time of writing.

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