Terra (LUNA) managed to re-touch its market cap of $25 billion, with an increase of around 30% as the crypto market recovered.
Amid the Ukraine-Russia war, the crypto market had declined significantly yesterday. After Biden’s speech weighing on the sanctions last night, the markets experienced a remarkable recovery and Bitcoin rose from the low of $ 34,300 to $ 39,700. The rise of altcoins was led by LUNA with a gain of about 30%. While LUNA managed to bring its market value back to the level of 25 billion dollars, it managed to rise to 68 dollars. With the RSI showing 72, LUNA has dropped slightly from its local high of $68 and is trading at $64.81 at the time of publication.
Earlier this week, LUNA gained momentum after the Luna Foundation Guard (LFG) said it would create a Bitcoin-denominated reserve as an additional layer of security for the UST, raising $1 billion. LUNA managed to continue to rise by maintaining its upward momentum after the decline.
11267
