Terra off to new record high as LUNA price outperforms market with 30% reboun...

Terra off to new record high as LUNA price outperforms market with 30% reboun...

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....


Related News

3 reasons why Terra (LUNA) price hit a new all-time high

The successful launch of the long-awaited Columbus-5 upgrade is just one of the factors in LUNA’s ascension to a new record high. Protocol upgrades are one of the biggest drivers of momentum because they show developers' dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token's value.One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (UST) to create a....

Terra LUNA hits new all-time high after 100% rebound from 2022 lows — Correc...

LUNA price chart technicals are hinting at a possible 50% price drop in the coming weeks, however. Terra (LUNA) rose to its best level to date on March 29 as the Luna Foundation Guard's (LFG) plans to increase its Bitcoin (BTC) reserves eased anxiety about the impact of an increasingly hawkish Federal Reserve and the ongoing Ukraine-Russia war on crypto markets.LUNA price hits new record high above $106LUNA's price breached above the previous record high of $106.29 by minuscule margins, reversing the losses incurred during the selloff between December 2021 and January 2022. The latest....

Conquering Terrain: Terra’s Stablecoin UST Is Now Crypto’s Third Biggest

Terra’s US dollar-pegged algorithmic cryptocurrency UST is moving up the ladder and now ranks third in terms of overall market capitalization. Today, the fast-growing Terra USD (UST) stablecoin from the Terra ecosystem passed another pivotal point, reaching a market valuation of more over $17 billion. As of Tuesday, UST had eclipsed the BSC-based stablecoin BUSD in market capitalization by more than $67 million. UST was operations in September 2020. To mint an equivalent amount of UST, a user must burn a reserve asset such as Terra (LUNA). UST Making Headlines This year, the Terra....

LUNA 2.0 Suffers Significant Price Correction Hours After Launch

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....

Terra peg mechanism in doubt as UST crashes to 67 cents

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....