Terra continues bullish trend; rest of crypto top 10 in red

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Ter­ra LUNA is con­tin­u­ing its bull­ish trend from where it left off on Wednes­day, up almost 7% to trade at $59.39 on Thurs­day morn­ing, Asia time.

Fast facts

See relat­ed arti­cle: Is Ter­ra — whose LUNA coin is now at anoth­er all-time high — real­ly where the smart mon­ey is?

  • The cur­ren­cy has been as low as US$55.19 and as high as US$63.99 in the last 24 hours. 
  • Ter­ra native sta­ble­coin UST is an algo­rith­mic sta­ble­coin that could be mint­ed by lock­ing LUNA and has a mar­ket cap­i­tal­iza­tion north of US$12 billion.
  • “Espe­cial­ly as reg­u­la­to­ry pres­sures increase, algo­rith­mic sta­ble­coins are set to gain more mar­ket share,” AAX head of research and strat­e­gy Ben Caselin told Forkast.
  • Terra’s price surge comes on the back of Luna Foun­da­tion Guard’s US$1 bil­lion pri­vate token sales con­duct­ed to form a Bit­coin reserve for UST.
  • Bit­coin was trad­ing at US$35,731 at press time, down 5.5% to resume its bear run after a brief Wednes­day rebound. 

See relat­ed arti­cle: Hed­era eyes smart con­tract upgrade, leads mar­ket rebound 

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