bitcoin
Bitcoin (BTC) $ 21,308.00
ethereum
Ethereum (ETH) $ 1,223.37
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 238.72
xrp
XRP (XRP) $ 0.369436
binance-usd
Binance USD (BUSD) $ 1.00
cardano
Cardano (ADA) $ 0.501118
solana
Solana (SOL) $ 41.36
polkadot
Polkadot (DOT) $ 8.17

Terra 2.0 (LUNA) Price Continues to Drop as Bitcoin and Ethereum Face Bearish Pressure

This weekend is rough for the global crypto market as it’s nearing a year low. struggles to hold support, dipping below $19k, and is facing significant bearish pressure as the ETH price is down 10%, currently trading at $1,500. As Terra 2.0 (LUNA) is considered an altcoin, it’s no surprise that LUNA is also amplifying BTC’s movements and is down 11% this Saturday, currently trading at $2.6.


Terra 2.0 (LUNA) Price is Down, but Ecosystem Continues to Grow

Even though Terra 2.0 (LUNA) has been losing value rapidly this past week, the ecosystem continues to expand at an impressive rate.

Dozens of projects have been announcing their integration with the new chain. Multiple Decentralized wallets have integrated with Terra 2.0, and several projects launched last week on LUNA.

Do Kwon opened up his Twitter account after four days of silence, promising to “soon be more proactive in communicating with the press & getting the right information out there.”

Today, TerraGotchi announced the launch of their on-chain identity layer on Terra by introducing TerraGotchi NFTs: the first class of dynamic NFTs offering a fun, game-like experience to track wallet transaction data on-chain.

Users can mint NFTs, which will visualize their transaction history. The will evolve based on their activity, similar to the popular Tamagotchi pet toy of the 90s and early 2000s.

#CryptoMarket and $ETH Trending on Twitter

With the recent bearish momentum for and Ethereum, users are turning to Twitter to discuss the cryptocurrency market, express their frustrations with the dipping price of various cryptocurrencies, or publish memes to soften the pain with humor.

The recent dip for crypto markets is likely due to the stock market’s poor performance last week, with the Dow falling over 800 points as inflation hits an all-time high.

Global markets were crushed last week as inflation continues to increase, which isn’t helping cryptocurrencies.

We can only hope the will depeg from the stock market like UST depegged from USD but in the opposite direction. After all, Bitcoin and cryptocurrencies like and LUNA are inherently immune to inflation as the supply is fixed.

Terra 2.0 (LUNA) is holding support relatively well at $2.65, but with a falling 24-hour trading volume of $218 million. Terra Classic (LUNC) is holding support even better, only down 2% in the past 24 hours, currently trading at $0.0000684 with a 24-hour trading volume of $161 million.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency.

Follow us on Twitter @themerklehash to stay updated with the latest Metaverse news!

Image Source: kviztln/123RF

Share:

Leave a Reply

Your email address will not be published.

Recent Highlights

USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 21,308.00
ethereumEthereum (ETH)
$ 1,223.37
tetherTether (USDT)
$ 1.00
xrpXRP (XRP)
$ 0.369436
litecoinLitecoin (LTC)
$ 56.53
dogecoinDogecoin (DOGE)
$ 0.067616
bitcoinBitcoin (BTC)
20.271,58
ethereumEthereum (ETH)
1.163,87
tetherTether (USDT)
0,952311
xrpXRP (XRP)
0,351467
litecoinLitecoin (LTC)
53,78
dogecoinDogecoin (DOGE)
0,064327
bitcoinBitcoin (BTC)
17,500.05
ethereumEthereum (ETH)
1,004.74
tetherTether (USDT)
0.822111
xrpXRP (XRP)
0.303414
litecoinLitecoin (LTC)
46.43
dogecoinDogecoin (DOGE)
0.055532

Recent Highlights