Despite the increase in Crypto Volatility, Terra Luna doubles its token value
- ByStartupStory | March 5, 2022
During the past month when the cryptocurrency market has been experiencing extreme volatility, a relatively little known token- Terra Luna has emerged as the top bet in performance and delivering returns.
The token’s value over the past few months has almost doubled, from a low of $47 to $91. In the last seven days, just around the time the war in Ukraine began, the rise in the token value has been seen perilously.
Around $52 has been seen hovering in the price on 24th February. According to a market research agency- CoinMarketCap, the total market cap of Terra has zoomed by about $34 billion with the dramatic rise, making it the seventh-largest token.
Terra Luna’s strong performance possibly comes from the uncertainty that has besieged the global markets Since the Russian forces entered Ukraine to launch a war, the strong performance of Terra Luna possibly comes from the uncertainty that has already besieged the global market.Luna happened to be the beneficiary as it has increased the of crypto investors interest in stablecoins, says Experts.
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