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SirWin
SirWin
SirWin

LUNA Rises, Stands Out among Alts in the Cryptocurrency Market

News
LUNA Rises, Stands Out among Alts in the Cryptocurrency Market

Terra (LUNA) has recently been one of the standout performers in cryptocurrency markets and has risen over 63% over the last week. Today’s live Terra price is $93.21, up 4.50% during the previous 24 hours, with a 24-hour trading volume of $5,118,834,444.

Luna Gains Momentum Amid the Altcoin Cold Season

LUNA’s solid fundamentals continue to make it one of the market’s best performers, and the most recent adverse volatility was brief. Volume and the indicators point to a strong bullish bias, with MACD and RSI setting new highs.

Soon, LUNA may have a strong chance of reaching the next significant resistance level at a little around $90. Such a move would go against the majority of the market, putting LUNA in a tiny group of cryptocurrencies that have maintained a rise when global markets are in chaos.

Alexander Mamasidikov, the co-founder of mobile digital bank MinePlex, stated:

“LUNA surpassing its contemporaries in the market today should not come as a surprise. The coin is supported by a blockchain system that is intrinsically unique and has the potential for tremendous usefulness and scalability, which retail and institutional investors recognize.”

Despite this advance, two factors may now stand in the way of any more short-term gains: price strength, which is already overbought, and the current resistance level. If both of these obstacles are removed, traders may be able to reach $100 for LUNA as early as this week.

Rune Integrates with Terra

The incorporation of Terra (LUNA) into the THORChain protocol has piqued the interest of both the RUNE and LUNA communities. Because of this connection, the platform can now handle all Cosmos-based projects.

Terra integration adds the LUNA token and the TerraUSD (UST) stablecoin to the THORChain ecosystem, providing users with additional trade and staking choices. THORChain’s THORSwap cross-chain decentralized exchange now supports six wallet types and eight blockchains. THORChain is also working on adding support for Haven and Monero.

As part of the Terra and Cosmos SDK rollout, THORChain will be upgraded via a hard fork, extensively tested on the testnet and followed by additional testing in Stagenet following the Terra on ChaosNet before the mainnet launch.

Global Crypto Market is on a Rise

Cryptos are flying high despite escalating tensions between Russia and Ukraine, with bitcoin topping the gainers. As European and American sanctions began to cut into Russia’s economy, Russia and Ukraine delegates adjourned their inaugural peace negotiations on the Belarus border without a conclusion to report back to their governments.

All of the leading digital tokens are increasing in value. Bitcoin has increased by 17% in the previous week. Following closely, Ethereum has risen 13.33 percent and is now trading at $2,996. The rest of the cryptocurrency market has also gained, bringing the global market valuation to $1.95 trillion, a 2.3 percent gain.

Ukraine Donations in Crypto 

So far, the Ukrainian government has raised $26 million in cryptocurrency. Around $14 million has been distributed to individuals in need. Meanwhile, the European Union Parliament is alleged to have removed critical language that said that all proof-of-work cryptocurrencies would be prohibited.

AMC Theatres previously stated their desire to accept DOGE and Shiba Inu (SHIB). Today, CEO Adam Aron announced that DOGE and SHIB payments would be available on their website by March 19. SHIB, a competitor, is up 4.22 percent at $0.00002663. In the meantime, Dogecoin (DOGE) is up 1.97 percent to $0.1344. It has a volume-to-market-cap ratio of 0.04646.