Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

LUNA

Luna Price Analysis

The price of LUNA, the governance token of the Terra blockchain ecosystem, fell sharply on Tuesday.

LUNA posted a press-time low of $13.57 against USDT on Binance, the most voluminous spot exchange for the token. LUNA has since recovered as of the time of writing and is trading hands at $14.40.

Data from CoinGecko shows that LUNA was trading above $40 on Monday. LUNA posted its all-time high in early April above $116.

The token’s price has fallen more than 60% in the past 24 hours amid broader market turbulence and UST, the Terra-tied stablecoin, in particular.

UST’s gyrations have sent the algorithmic stablecoin, which relies on market incentives to maintain parity with the US dollar, as low as $0.60 on Monday before it posted a temporary recovery in the wake of that move down.

At press time, the UST is facing downward pressure and is trading at $0.69 on Binance after climbing to a 24-hour high of $0.94. Volatility around the stablecoin began with a series of market events on Saturday. 

Tuesday that the Luna Foundation Guard, a nonprofit focused on supporting the Terra ecosystem, was looking to raise more than $1 billion in order to provide more support to the market.

Equities markets, too, have experienced volatility and declines since the start of the year amid a period of higher inflation and macroeconomic conditions spurred by the war in Ukraine, though on Tuesday, US equities were more muted compared to Monday’s performance. 

Bitcoin is trading at $30,530 on Coinbase as of the time of writing, down nearly 20% in the past seven days. 

Featured

NFT

Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will...

Finance

Though the recent months haven’t been very good for the crypto industry, this could not deter some crypto investors from being bullish about this...

Altcoin

The down-trending market that took its resistance from $1.35134 on the 10th of September did not go too far before it begins to face...

Crypto News

Robinhood, a leading investment app, has rolled out its newest product — a crypto wallet that charges zero transaction fees to its users. For...