Even the Bitcoin price crash couldn’t stop Terra (LUNA) from making new record highs
Bitcoin price rebounded after yesterday’s big crash, rebounding nearly $ 8,000 after falling to a daily low of $ 42,000 on the Bitstamp exchange. Most altcoins are currently in the green, with Ethereum hitting $ 4,200 and Terra (LUNA) climbing to another all-time high. At the time of writing, LUNA is changing hands at $ 76,088.
LUNA / USD 4-hour chart | Source: TradingView
Terra (LUNA) reaches a new ATH despite brutal Bitcoin price correction
The crypto industry is known for its highly volatile price movements and yesterday was a prime example of that. BTC plunged to a daily low of $ 42,000 (on Bitstamp) in the hours that followed, leading many industry experts and analysts to speculate on the possible reasons for that $ 16,000 decline.
However, BTC reacted somewhat positively after bottoming out at $ 42,000. It initially rose to around $ 47,000 and another leg a few hours later pushed it down to just $ 50,000. BTC has not been able to break this level so far, but it is still up about 5% over the day and its market cap is up over $ 900 billion.
LUNA hit a new all-time high of $ 77 today. The cryptocurrency climbed to 9th place on CoinMarketCap, overtaking Polkadot (DOT). In the last 24 hours alone, it has increased by 35% and thus extended its upward trend.
The token’s market capitalization has grown to $ 30 billion, just below XRP. LUNA’s record high came amid a massive market crash that sent shock waves through the industry. Bitcoin dominance has now fallen below the psychologically important 40% mark.
More daily profits are at Livepeer (22%), Loopring (20%), Elrond (20%), Quant (18%), Decentraland (18%), Enjin Coin (17%), Holo (16%), THORChain. visible (15%), sandbox (12%), helium (12%) and many more. As a result, crypto market cap has rebounded over $ 300 billion from yesterday’s low of $ 2 trillion.