Terra Bounces 15% Registering 3rd Largest Stablecoin! LUNA Price Hitting ATH Imminent by April End?
Bullish Morning! It looks like bulls have taken up the control of the cryptocurrency market as Bitcoin and other major altcoins have slightly jumped today, after facing a selloff the previous day. Except for the dollar-pegged stablecoins and Dogecoin, all the other cryptocurrencies have surged today.
Terra has stood up as LUNA Price has gained 14% followed by Bitcoin, Ethereum, and XRP which have increased by 2% each.
Terra’s LUNA Witness A Strongest Jump
In the latest market correction, Terra was also among the broader market corrections. But today, the Terra blockchain network’s LUNA registered a sharp bounce in the last 24hrs.
At the time of reporting, LUNA Price is changing hands at $89.27 with a surge of 16.89% over the last 24hrs with a market cap of $31.6 billion. This bullish move has placed Terra as the eighth-largest cryptocurrency by market cap pulling down Cardano’s ADA.
This astonishing move was predicted three days prior by a Twitter handler known as Lunaticos.
At the start of April, the altcoin climbed to $119 marking ATH before the currency saw a correction of 40%. If the bullish move continues, we can soon see Terra (LUNA) reaching its all-time high.
Terra’s UST Is Now The Third Largest Stablecoin
What’s more interesting is Terra’s native stablecoin TerraUSD (UST) is now the third-largest stable coin by market cap after -usd-to-be-3rd-largest-stablecoin/” target=”_blank” rel=”noreferrer noopener”>TerraUSD (UST) surpassed USD (BUSD)’s market cap. The next target for TerraUSD is Tether (UST) and USD Coin (USDC)’s market caps.
Interestingly, this is the first time that a single blockchain ecosystem has seen two of its coins in the top-fifteen list. The Twitter user Lunaticos states that
Meanwhile, Terra has been the talk of the crypto space due to its Bitcoin accumulation. The Luna Foundation Guard (LFG), the parent organization of Terra, has acquired nearly 30,000 Bitcoin and the LFG is also looking forward to acquiring 410 billion worth of Bitcoin in total.