Max E.Tue, Apr 19, 2022 6:30 PM
LUNA, ZEC & APE: 19 April Price Digest
On Tuesday, the price of LUNA surged from $76.44 to a daily high of $91.6, leading the rest of the crypto market. Despite a slight correction from the intraday high, the price is still up 12.35% in the last 24 hours. At the time of writing, the asset is trading at $89.76.
Thanks to the price increase, the token was ranked eighth again. Within the past 24 hours, daily trading volume has increased by 108% to over $3.1 billion.
In mid March, Do Kwon, the founder and CEO of Terraform Labs, announced that his team would provide BTC to back up its own stablecoin, UST. After that, the startup periodically reported on the acquisition of each new batch of cryptocurrency. Moreover, in addition to BTC, the developers of the LUNA altcoin included the Avalanche coin (AVAX) in their reserves.
In total, Terraform Labs plans to invest up to $10 billion in the largest digital currency, Do Kwan said. The other day it was revealed that Terra's reserves in BTC had increased again. The team bought a batch of coins worth up to $100 million. The startup made its first purchase of Bitcoin back in March.
The recent drop in BTC value has proven to be beneficial for Terra developers. They were able to purchase cryptocurrency at comfortable prices. Now the startup controls 42,406.92 BTC for a total amount of more than $1.7 billion. Thus, Terra may soon become a worthy competitor to MicroStrategy, which also systematically enters the market to acquire BTC.
At the time of writing, the cost of the ZEC token is $157.42. Over the past 24 hours, the price of the asset has increased by 14.18%.
The peer-to-peer payment system Zcash (ZEC) is being actively developed. Last year, the project published its “aggressive” roadmap, which details the company’s plans up until 2025.
The roadmap includes three key future achievements: transition to the Proof-of-Stake consensus algorithm, interoperability and the official ECC wallet. The latter will allow the project team to interact directly with Zcash users, quickly deploy and test new features. The launch of the wallet is scheduled for 2022.
At the time of writing, the value of the ApeCoin asset is $12.20. Over the past 24 hours, the price of the coin has increased by 9.22%.
Recently, after an extremely successful launch, the cryptocurrency has been under active development. Thus, the other day, Coinbase announced the casting of NFT characters from the BAYC collection for the upcoming film The Degen Trilogy.
Owners of selected collectible assets will receive a $10,000 royalty in BTC or ApeCoin tokens.
Meanwhile, two members of the BAYC community have recently opened a restaurant in California.
They used the “bored monkey” NFT as their establishment brand. Clients can pay with Ethereum or ApeCoin. BAYC holders include a number of celebrities, among them are Eminem, Madonna, and presumably Justin Bieber.