All the negative information around us. Cryptocurrencies, the stock market – they score more and more new lows. A lot of people have stopped believing, they are selling their "currencies" which is not surprising – everyone is panicking that their investment may fall even lower. And it's true – it can happen. It is not…
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You probably believed in it, too. Despite being a joke today, people were given hopium reasons to accept it as truth. It’s 2019 and there’s no pandemic. Crypto is recovering from a bad 2018, and in March a new metric pops up: the so-called Stock-to-Flow model. Used to forecast gold’s and silver’s prices, PlanB applied…
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Terra (LUNA) woke up to a good day on Wednesday as the token made an impressive 30% jump in its price on the way to tallying a high of $3.08. Terra accounted for 25.06% of the entire token holdings among the top 100 ETH whales LUNA price surged by 30% today and hit $3.08 Bullish momentum is possible and trading price might reach $3.25 The crypto, though, immediately experienced price correction as it is trading at $2.69 at press time according to tracking from Coingecko. Still, Terra is looking at a 5.5% increase for the past seven days and a higher jump of 7.4% for the past two weeks. It is still miles away from its all-time high of $18.87 attained in March 28 of this year, losing 85.6% of that value. The good news is that it is currently up by 77.6% of from its all-time low of $1.53 hit on August 29, 2022. Related Reading: Why ApeCoin Traders Should Expect The Next Coming Days To Be Tough For APE Terra Surges As It Flips Lido Staked ETH Tokens According to online crypto information source WhaleStats, Terra became the top holding by dollars of the top 100 Ethereum whales, accounting for 25.06% of all token holdings. In doing so, LUNA was able to edge out Lido staked ETH (stETH) tokens and even surpassed USDC and USDT holdings of the whales. In total, Ethereum whales included in the top 100 held around $820 million worth of Terra digital coin. The wormhole interoperability protocol asset was then leveraged by the Ethereum whales to exit liquidity, causing the unprecedented rally that pushed LUNA price to grow by 30%. Terra also witnessed a 150% increase in its trading volumes for the past hours, contributing to the bullish rally the digital asset made. Terra Price Action At A Glance While the Terra coin price ballooned by 30%, it still remains to be seen if LUNA can reach higher terrain during this time when crypto market is looking at high level of uncertainties among market participants. It can be recalled that during the period of September 10 to 26, there was a massive sell-off involving the altcoin, driving its price all the way down to the $2 psychological support marker. This led to the formation of a pennant pattern for Terra, indicating a continuance of the bearish momentum it was in before this recent price surge. But all is not lost for LUNA, as there is a slight chance that the token will break the overhead trendline. If that happens, just like today, Terra might end up in an upward trend, going as high as 20% to hit $3.25. As for its intraday performance, the altcoin is in a bullish trend but volatility remains high. Related Reading: Huobi Token Spikes Nearly 30% In Last 24 Hours As HT Seen Rising On Revival Plans Crypto total market cap at $853 billion on the daily chart | Featured image from CafeF, Source: TradingView.com Disclaimer: The analysis represents the author’s personal views and should not be construed as investment advice.
Organizations are partnering with NFT projects and accepting crypto donations to draw attention to Breast Cancer Awareness Month.
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Cointelegraph reporter Gareth Jenkinson interviewed Nigel Farage, a former member of the European Parliament, at the Bitcoin Amsterdam 2022 event.
On this day 11 years ago the first Litecoin block was mined. It was developed by Charlie Lee using Bitcoin source code but changing some parameters like block time from 10 minutes to 2.5 minutes (/4), total coins from 21 million to 84 million coins (x4). The final change was using the Scrypt algorithm vs…
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The Brazilian Securities and Exchange Commission (CVM) has clarified the criteria by which different cryptocurrency assets can be considered securities. Through the issuance of a guidance opinion document, the CVM defines different classifications for existing cryptocurrency assets, specifies which can be viewed as securities, and explains how it will intervene in these markets. Brazilian Securities […]
Samsung’s Knox Matrix uses blockchain technology backing to increase security for all personal smart devices of a user connected to the network.
