- An impressively long green candle on February 28 lifted LUNA over $90.
- LUNA’s volatility has decreased by 55.5 percent in the last 24 hours.
On Wednesday morning, Terra’s LUNA token reached a new all-time high of $104.58, surpassing the previous record of $103.34 set in December. Compared to other large-cap cryptocurrencies, LUNA’s latest milestone sets it apart from the pack.
An impressively long green candle on February 28 lifted LUNA over $90; on March 9, a similar long green candle momentarily raised LUNA above $100. Data from Messari showed that Terra has the greatest circulating market capital among the top 30 invested assets. Terra was lagging behind assets like Polkadot and Avalanche in the recent quarter, which were doing better.
Brief Correction Underway
At the time of publication, Terra’s LUNA was the seventh-largest cryptocurrency in terms of market cap and is trading at $88.41. Recently, the price of LUNA fell 10% while rising 13% in the previous seven days. LUNA’s volatility has decreased by 55.5 percent in the last 24 hours, even though it has increased by 29.7 percent in the last week. This makes LUNA desirable to investors. New investors looking to join in on the upswing may use this as an inducement to do so.
As measured by Santiment, the weighted sentiment was negative on March 11, hovering at -0.3. After falling from a high of 3.92, this was the next level. LUNA prices dropped following the initial surge, which might be a factor. In addition, investors may sense that corrections may be on the horizon following such a rapid rise. According to CoinMarketCap, the Terra price today is $88.62 USD with a 24-hour trading volume of $4,048,786,813 USD. Terra is down 10.55% in the last 24 hours.
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