bitcoin
Bitcoin (BTC) $ 20,118.00
ethereum
Ethereum (ETH) $ 1,130.15
tether
Tether (USDT) $ 1.00
usd-coin
USD Coin (USDC) $ 1.00
bnb
BNB (BNB) $ 219.56
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.334801
cardano
Cardano (ADA) $ 0.467081
solana
Solana (SOL) $ 35.09
dogecoin
Dogecoin (DOGE) $ 0.065397

Terra 2.0 (LUNA) Price Declines by 14% Amid Bearish Momentum for Crypto Markets

and are again showing bearish momentum as BTC and ETH have lost 5% in the past 24 hours. Terra 2.0 (LUNA) is also down over 14%, currently trading at $4.31, dipping below $1 billion market capitalization with a current valuation of $912 million.


Major Stocks Plummet, Causing BTC and ETH Dips

As the market opened this Tuesday, major stocks like Target dive on profit warning and Tesla stock continues its slide. The market is nervous, and since and are currently following the stock market’s price action, both cryptocurrencies also saw a few percent declines.

is currently hovering at the $29k level, while is at the $1.7k mark, struggling to hold support.

Since Terra 2.0 (LUNA) is an at the end of the day, it’s bound to amplify and ’s price action. It is no surprise that LUNA is down over 14%, currently trading at $4.31.

Terra 2.0 (LUNA) Ecosystem Continues to Expand

The good news is that the Terra 2.0 (LUNA) ecosystem continues to expand as more dApps launch on the new chain or migrate from Terra Classic.

In addition to several projects that completed their integration with Terra 2.0 (LUNA) last week, today, Wicca Money, a permissionless launchpad, announced their launch on Terra 2.0.

Wicca Money describes itself as a phoenix that was reborn from the ashes. To onboard thousands of projects on the ecosystem, Wicca Money creates infrastructure for anyone launching tokens to raise funds efficiently and protect investors by ensuring the liquidity on the Decentralized Exchange.

If you’re part of the Terra 2.0 (LUNA) community and would like to launch a project, we recommend checking out Wicca Money.

Final Thoughts

The markets continue to trade sideways and remain volatile. The overall sentiment is still bearish as Bitcoin and struggle to hold support.

As the LUNA ecosystem continues to expand, we can expect bullish momentum for LUNA, however, the short-term sentiment of Terra 2.0 is bearish as the cryptocurrency falls below the $1 billion market capitalization.

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!

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bitcoinBitcoin (BTC)
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xrpXRP (XRP)
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bitcoinBitcoin (BTC)
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