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Terra Blockchain Resumes Following 9-Hour Halt
Blocks 7607790 and 7607791 came through at around 11:27 UTC Friday.
The Terra blockchain has resumed activity following a halt of around nine hours while validators plotted a route out of its ongoing crisis.
- The blockchain was halted at block 7607789 slightly after 3:00 UTC Friday. Blocks 7607790 and 7607791 then came through at around 11:27 UTC.
- Following the resumption of the blockchain, Terraform Labs, the company behind the Terra ecosystem, tweeted that network validators have disabled on-chain swaps and Inter-Blockchain Communication (IBC) protocols have been closed. It encouraged users to "bridge off-chain assets, such as bETH, to their native chains."
- LUNA was priced at around $0.008 at the time the network was halted, and terraUSD (UST) was at $0.19. At the time of writing, the assets were priced at $0.00003 and $0.16, respectively, according to CoinMarketCap data.
Read more: Terra’s LUNA Has Dropped 99.7% in Under a Week. That’s Good for UST
STORY CONTINUES BELOW
UPDATE (May 13, 12:57 UTC): Added tweet info in second bullet point.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
