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    Terra, Waves & Loopring: 29 March Price Digest

    LUNA, WAVES and LRC price report

    On Tuesday, the cryptocurrency market continued to grow despite the stagnation of US stock markets and the increased uncertainty of global macroeconomic prospects. It looks like the current BTC upside momentum has revived the bullish sentiment in the cryptocurrency market, presumably marking the end of the bearish cycle. Most of the major altcoins gained in value, with growth leaders like LUNA demonstrating impressive success.

    At the time of writing, the price of the LUNA (Terra) token is $102.96. Over the past 24 hours, the price of the asset has increased by 8.56%.

    LUNA price grows by 8.56%.

    LUNA ranks eighth in the overall rating of cryptocurrencies. The market capitalization of the token is $36.8 billion. Terra also runs the TerraUSD (UST) stablecoin. Its market capitalization is $16.2 billion.

    The skyrocketing LUNA price is due to the news that a Singapore non-profit foundation behind the project’s ecosystem has purchased $135 million worth of BTC to support UST. In total, the fund has purchased more than $1 billion worth of BTC since January. Bitcoin reserves keep the UST price stable.

    WAVES

    WAVES is up 65.15% in the last 24 hours, surpassing the $53.11 level. Token trading volumes have risen to an all-time high of over $3 billion with a market capitalization in excess of $5 billion. Thanks to the current rally, WAVES has become the 32nd largest cryptocurrency by market capitalization.

    The rapid price increase was mainly influenced by the news about the upcoming launch of Waves Labs, the American division of the project. It will be involved in raising funding and supporting new blockchain projects, as well as hiring and marketing. The launch of Waves Labs is to take place this year. In general, the project plans include a gradual transition to a decentralized governance model and integration with other blockchains.

    Loopring

    The price of LRC gained 57% between March 21 and March 23. Over the past 24 hours, the price growth amounted to 13.31%. At the time of writing, the price of the asset is $1.31.

    LRC price chart

    LRC growth is stimulated by such factors as the launch of the beta version of the GameStop NFT trading platform on the Loopring network, its NFT ecosystem active development and new users’ influx.

    The content of this article is for informational purposes only and should not be construed as investment advice. We ask you to do your research. This text is not a guide to action. The author's opinion may not coincide with the opinion of CoinJoy.

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