Today, LUNA is trading at between $1.10 and $1.20, marking a significant 31.1% increase from its price of around $0.80 yesterday. This upward movement mirrors the positive trend seen in Bitcoin, which has influenced most altcoins and meme coins, with the latter experiencing particularly notable price surges. This trend prompts the question: could this be the beginning of an altcoin season?
You can buy Terra ($LUNA) on Bitrue.
Source: CoinGecko
LUNA's Trading Volume Surged by Over 1000% in the Past 24 Hours
In the last 24 hours, LUNA has seen its trading volume skyrocket to $1,027,515,114, marking an impressive increase of 1,041.40% from the previous day.
Read More: BONK Price Increases More Than 180% in 7 Days, Surpassing Previous High & Reaching an All-Time High
Luna Weekly Performance
Over the past week, LUNA has experienced a remarkable price surge of 58.40%, significantly outpacing the overall cryptocurrency market's growth of 4.60%. This performance is particularly notable when compared to similar crypto categorized as "Alleged SEC Securities" in CoinGecko, which have seen a more modest increase of 5.30%.
Luna Market Cap
As of today, LUNA boasts a market capitalization of $758,500,786, positioning it at rank #124 on CoinGecko. This market cap is calculated by multiplying the token's price with its circulating supply, which currently stands at 680 million tradable tokens on the market.
LUNA market cap is currently at the highest level since October 2022 and passed the highest level reached in December 2023.
Source: CoinGecko
The 2022 Terra Crash
The Terra ecosystem collapse, one of history's most devastating crypto crashes, obliterated $60 billion within days, rendering the investments of millions nearly worthless. Terra's notable industry footprint meant the crash severely impacted crypto investment firms betting on its success, leading to significant portfolio losses.
Some managed to recover, while others, like Voyager and Three Arrows Capital, filed for bankruptcy. The fallout also played a role in FTX's downfall, as the exchange, owned by Sam Bankman Fried, had entanglements with Terra investors and overreached in its rescue efforts for various crypto entities post-Terra collapse.
Despite the crash that happened in 2022, it seems that LUNA still manages to have a place in crypto space.
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