Terra back from the dead? LUNA price rises 300% in September
The incredible LUNA rally took place amid a flurry of positive and negative events while technicals suggest a correction is coming. Terra has become a controversial blockchain project after the collapse of its native token LUNA and stablecoin TerraUSD (UST) in May. But its recent gains are hard to ignore for cryptocurrency traders. LUNA rising from the dead?After crashing to nearly zero in May, LUNA is now trading for around $6, a whopping 17,559,000% price rally in less than four months when measured from its lowest level. Meanwhile, LUNA's performance in September is particularly....
Related News
The recovery plan for Terraform Labs’ stablecoin TerraUSD (UST) and its native token Terra (LUNA) embarked on a bumpy route after the LUNA 2.0 cryptocurrency suffered a substantial market fall hours after its launch. TerraForm Labs successfully delivered new LUNA coins to market participants holding LUNA Classic (LUNAC) and TerraUSD (UST). According to data from cryptocurrency exchange Bybit, LUNA began trading at $0.5 and quickly rose to a high of $30 before dropping by more than 88% to $3.5. Related Reading | Cryptocurrency Spams Grow By Over 4000% In The Last Few Years LUNA....
The new Terra token dropped by over 70% within hours of hitting $30 after its release on Saturday, May 28, triggering yet another round of criticism from the crypto community. The old LUNA has been renamed Terra Classic (LUNC) on CoinMarketCap, and a new listing for the new Terra (LUNA) has been added. As part […]
The token burn appears as the supply of UST, Terra's stablecoin, rises by nearly 14.75% in the month. Terra (LUNA) emerged as one of the best performing financial assets in February, a month mired by geopolitical conflicts and their negative impacts on the crypto market.LUNA decouples from the crypto marketLUNA's price surged by a little over 75% to reach $91.50 at the month's UTC close. In comparison, the percentage performance of other top tokens, mainly Bitcoin (BTC) and Ether (ETH), in the same period came out to be around 12.25% and 9%, respectively.LUNA/USD versus BTC/USD and ETH/USD....
Terra USD (UST) and its backing coin LUNA have been in a veritable nosedive in price and market cap since major sell-offs began in the ecosystem. The third-largest stablecoin by market cap Terra USD (UST) appears to be in a catastrophic tailspin which has seen it de-peg from the dollar and drop to as low as $0.67 on May 10.As its price has fallen, so has its market capitalization along with that of Terra (LUNA) which backs the majority of the value of UST. Adding further insult to injury, the market cap of UST has vastly surpassed that of LUNA, drawing extreme scrutiny from the crypto....
The total value locked inside the Terra blockchain system has reached an all-time high of nearly $26 billion. Terra (LUNA) resumed its upward march this week as its price per token rebounded by more than 30% three days.LUNA's price almost reached $100 on March 9 following a 15% intraday rally, coming near its record high of $106 from December 2021. At its week-to-date (WTD) low, the Terra token was trading at $75.60.LUNA/USD daily price chart. Source: TradingViewOver 120 million LUNA burned alreadyThe recent bout of buying in the Terra market appeared in part due to similar recoveries....