Connect with us

Plato Vertical Search

Blockchain

Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum?

Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum? Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Terra (LUNA) has reached all-time highs in intraday trading today. The coin went above the $100 mark for the first time. It has however retreated slightly below that but is still nearly 3% up for the day. The rally was largely triggered by increasing positive buzz around layer 1 blockchains. Other similar networks like Solana (SOL) and Avalanche (AVAX) also rallied. Here is what we know so far:

  • At the time of writing, Terra (LUNA) was trading at around $99.30, but it had surged above $100 in intraday trading.

  • The bullish price action was also seen in other similar Layer-1 chains, including Solana and Avalanche (AVAX).

  • The rally is likely to hold as investors continue to bet big on Layer-1 blockchains.

Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum? Blockchain, Featured, Home CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionData Source: Tradingview.com

Terra (LUNA) – price action and analysis

It seems like a very long term ago when Terra (LUNA) was trading slightly above its $54 support. This was even after the coin had rallied nearly 25%. But that was merely a week ago, and it shows you just how fast things can change in crypto. 

Over the past few days, LUNA has been gaining upward momentum. But not even the most optimistic analysts saw the coin surging towards its all-time highs before the end of the year. It is indeed a Christmas surprise, and we expect this bullish upturn to hold for longer.

Should you buy Terra (LUNA)

Terra (LUNA) has always been a good investment based on its underlying fundamentals. The chain has seen explosive growth this year too. However, it is the growing interest in Layer-1 blockchains that makes LUNA such a promising project. 

In fact, the recent surge to all-time highs was inspired by the positive buzz around Layer-1 solutions. Although the chain faces competition from major players in this space like Solana (SOL), it still offers the promise of excellent returns in the long run. You should therefore consider buying it.

The post Positive buzz on Layer-1 networks pushes Terra (LUNA) to all-time highs – can it hold the momentum? appeared first on Coin Journal.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.

Click here to access.

Source: https://coinjournal.net/news/positive-buzz-on-layer-1-networks-pushes-terra-luna-to-all-time-highs-can-it-hold-the-momentum/

Latest Blockchain Streams

Blockchain

While the past 48 hours have been rather detrimental to the market sentiment, Binance Coin flipped the $414-mark from support to resistance. Polkadot and...

Blockchain

In recent months, it’s not just been crypto-products that have been stirring up controversy, but even their advertisements. One country that is watching these...

Blockchain

Bitcoin has reached its lowest price level since July, with it currently standing at a big support line of $35,000. Plenty thought $39,000 would...

Blockchain

After the market-wide sell-off, XRP picked itself up from its six-month low at $0.5489. Now, it needs to gather thrust to test the 23.6%...