Terra’s Mirror Protocol ($MIR) Increases by 40% after Two days
$MIR had a great rebound
After Vladimir Putin launched military attacks against Ukraine, Mirror System, a decentralized finance (DeFi) protocol built on the Terra blockchain, saw one of the worst crashes in financial history this week.
MIR, the native token of Mirror Protocol, fell to $0.993 on February 24, its lowest level to date, after a selloff in the larger crypto market. However, the price quickly rebounded, reaching as high as $1.41 two days later, a gain of more than 40% from MIR’s record low.
MIR’s positive retracement followed similar recoveries elsewhere in the crypto market, much like the plunge. However, MIR/USD gains looked to be higher than some of the most widely valued digital assets, such as Bitcoin (BTC) and Ether (ETH).
Bitcoin, for example, has rebounded 17% since bottoming out at $34,500 on February 24. Ether, on the other hand, gained a little more than 25% in the same time frame after bouncing from $2,300.
Terra (LUNA), on the other hand, increased by more than 50% within the same time period.
Anchor Protocol (ANC), a Terra blockchain-backed token, rose more than 45% from its February 24 low of $2.64 to its highest position to date, just shy of $4.
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