Steady fundamentals and rising demand for UST and LUNA are just a few of the reasons why the altcoin has gained 162% in the past two weeks.
Bitcoin (BTC) price appears to have faked out investors with its move to $42,000 last week and while the digital asset struggles to hold above $38,000, altcoins with strong fundamentals and real-world applications are gaining momentum. Terra (LUNA), a blockchain protocol that backs the fiat-pegged TerraUSD (UST) stablecoin, is one such project that has managed to buck Bitcoin’s downtrend and climb higher since the start of AugustLUNA/USDT 1-day chart. Source: TradingViewData from Cointelegraph Markets Pro and TradingView shows that the price of LUNA has rallied 162% from a low at $5.53 on July 20 to an intraday high at $14.51 on Aug. 3 as its 24-hour trading volume increased from $137 million to $774 million. Three reasons for the surge in interest include LUNA’s rapidly expanding ec
Źródło: https://cointelegraph.com/news/terra-luna-price-rallies-162-while-bitcoin-and-altcoin-prices-drop
