November 29, 2022

Blocks 7607790 and 7607791 came through at around 11:27 UTC Friday.

Source: Coindesk.com
Source: Coindesk.com

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.