Last week, a votation was held among the Terra community, in which it was decided that the project would be restructured, launching a new token; which, however, did not have the expected results in its first hours. On the other hand, the crypto market seems to start the week on the right foot.

The cryptocurrency market turns green this Monday, as assets such as Bitcoin and Ethereum are above 3% of their opening prices. In addition, it should be noted that a few weeks ago we did not see a market in which the 10 coins with the highest market capitalization grew simultaneously, with Cardano in the lead, with a growth of more than 10% in the last 24 hours. A couple of weeks ago we experienced one of the most catastrophic events in the history of cryptocurrencies, the fall of Terra. This project, which had managed to generate a fairly large community around the world, made all of its users practically lose all their money, thanks mainly to a flaw in its algorithmic stablecoin, Terra USD (UST). However, Do Kwon, the founder of Terra, had come out to talk to the community, and a votation was generated focused on a proposal, which seeks to reemerge the Terra blockchain platform, completely leaving aside the algorithmic stablecoin project.

Faced with this proposal, the users of the community showed a positive response (of course, since they seek to recover these great losses), so they opted for the issuance of a new token called… Terra (LUNA). Yes, nothing new, here the interesting thing is that the previous tokens issued as LUNA, will be called Terra Classic (LUNC). It should be noted that all those who own tokens of the old cryptocurrency will be granted tokens of the new platform, in order to regain the trust of users. There is no doubt that it will be a long journey for the Terra community, and the outlook looks quite complicated, since it will be difficult for them to regain the confidence of investors who are not yet involved in the project. In other news, last Thursday it was announced that Tether would launch an algorithmic currency linked to the Mexican peso, this being the first stable currency in Latin America, working as a pilot test to enter this market and later be able to offer simpler options for the realization of transactions and encourage the Latin American population to get involved in the world of cryptocurrencies.

One of the main potential uses of this new currency is its implementation for sending remittances to the Mexican country, since it presents a totally decentralized, faster, cheaper and safer option to be able to send money to Mexico from the United States. In addition, the adoption of cryptocurrencies is increasing in the Mexican market, since an alliance has been announced between the ticket sales company known as Boletomóvil and Bitso, the largest exchange in Mexico and one of the largest in Latin America, for selling tickets with cryptocurrencies as a payment method for various events. These events include concerts, baseball, basketball, tennis and, of course, Liga MX games, including games for América and Tigres. Continuing with the good news, Andreessen Horowitz, the renowned Silicon Valley firm, plans to invest billions of dollars in new companies related to the cryptocurrency market. The company announced last Wednesday a new fund of 4.5 million dollars to support this type of company. In addition, it is important to note that they will also invest company capital in digital assets, while their prices are at low levels. Bitcoin managed to trade back above $30,000, after a growth of more than 3.5% earlier today that positions it close to $30,500. We can see a next resistance level near $34,000. BTC/USDT 1D (TradingView Chart). For its part, Cardano is looking to resurface and is above $0.53, with an upcoming resistance level near $0.79. ADA/USDT 1D (TradingView Chart). It seems to be a good week for cryptocurrencies. However, we are still in a time of uncertainty, so maintaining that long-term view would not be a bad idea. Without further ado, we wish you an amazing week.