{"id":570101,"date":"2022-04-19T14:00:50","date_gmt":"2022-04-19T13:00:50","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=570101"},"modified":"2022-04-19T14:02:04","modified_gmt":"2022-04-19T13:02:04","slug":"terras-governance-token-luna-gains-17-after-ust-emerges-as-third-biggest-stablecoin","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/terras-governance-token-luna-gains-17-after-ust-emerges-as-third-biggest-stablecoin\/","title":{"rendered":"Terra&#8217;s Governance Token LUNA Gains 17% After UST Emerges As Third-Biggest Stablecoin"},"content":{"rendered":"\n<ul><li>LUNA prices spiked more than 17% between Monday and Tuesday<\/li><\/ul>\n\n\n\n<ul><li>The massive pump occurred shortly after UST replaced BUSD as the world\u2019s third-largest stable coin token<\/li><\/ul>\n\n\n\n<ul><li>LUNA\u2019s market cap also jumped up significantly and now sits above the $30 billion mark<\/li><\/ul>\n\n\n\n<p>Terra\u2019s governance cryptocurrency token LUNA pumped over 17% in the 24 hours between Monday (April 18, 2022) and Tuesday (April 19, 2022).&nbsp;<\/p>\n\n\n\n<p>Data collected from <a href=\"https:\/\/coinmarketcap.com\/currencies\/terra-luna\/\" data-type=\"URL\" data-id=\"https:\/\/coinmarketcap.com\/currencies\/terra-luna\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">CoinMarketCap <\/a>shows that LUNA traded around $75.93 for most of Monday. In the early trading hours of Tuesday morning, the eighth-largest crypto by market cap surged as high as $92.\u00a0<\/p>\n\n\n\n<p>The hefty 17.2% pump came amid an underwhelming market day and marked LUNA as one of the top gainers in the last 24 hours. However, the token\u2019s price has experienced a slight retrace since its sharp rally and now trades at around $90, as of press time.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img width=\"850\" height=\"521\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart.png\" alt=\"\" class=\"wp-image-570103\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart.png 850w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart-300x184.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart-770x472.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart-269x165.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-Daily-Chart-746x457.png 746w\" sizes=\"(max-width: 850px) 100vw, 850px\" title=\"\"><figcaption>Terra&#8217;s LUNA Daily Chart (Source: TradingView)<\/figcaption><\/figure>\n\n\n\n<p>Technical analysis also revealed that LUNA\u2019s most recent price movement placed the token above a key support level identified around the $80-$82 region. Although the significant jump in price signaled gains for Terra\u2019s token holders, LUNA remains more than 30% away from its $120 all-time high.<\/p>\n\n\n\n<p>Historically, the market caps for cryptocurrencies grow as prices increase and Terra\u2019s governance token was no different. CoinMarketCap data showed that the crypto\u2019s market cap gained over 17% as over $5 billion followed into Terra.<\/p>\n\n\n\n<p>As of the time of writing this report, Terra\u2019s native crypto boasts a market cap of $32.15 billion. Its closest competitor is Cardano\u2019s ADA with its $31.54 billion market capitalization.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img width=\"1024\" height=\"576\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-1024x576.png\" alt=\"\" class=\"wp-image-570105\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-1024x576.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-300x169.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-770x433.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-269x151.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap-746x419.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2022\/04\/Terras-LUNA-MarketCap.png 1366w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" title=\"\"><figcaption>LUNA&#8217;s Market Cap (Source: CoinMarketCap)<\/figcaption><\/figure>\n\n\n\n<h2>Terra\u2019s UST Rises As Crypto\u2019s Third Largest Stablecoin<\/h2>\n\n\n\n<p>LUNA\u2019s surge on Tuesday follows a key landmark moment in the world of blockchain-powered currencies. UST, the algorithmic stablecoin for Terra\u2019s ecosystem, unseated Binance\u2019s BUSD as the <a href=\"https:\/\/en.ethereumworldnews.com\/terras-ust-climbs-into-top-3-stablecoins-above-busd\/\" target=\"_blank\" rel=\"noreferrer noopener\">third-biggest stablecoin<\/a> in the crypto space.\u00a0<\/p>\n\n\n\n<p>UST is different from other stablecoins as the token is supported by a reserve denominated in Bitcoin, Avalanche, and other digital assets.&nbsp;<\/p>\n\n\n\n<p>The Luna Foundation Guard, a non-profit organization that exists to aid Terra\u2019s growth and ensure UST\u2019s peg to the US Dollar, holds some 42,000 BTC in the stablecoin\u2019s reserve. The LFG also purchased <a href=\"https:\/\/en.ethereumworldnews.com\/terras-ust-climbs-into-top-3-stablecoins-above-busd\/\" target=\"_blank\" rel=\"noreferrer noopener\">$100 million worth of AVAX<\/a> for the same reserve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Terra&#8217;s native token LUNA pumped 17% after the ecosystem&#8217;s stablecoin climbed to third on the stablecoin rankings yesterday.<\/p>\n","protected":false},"author":55,"featured_media":570102,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[373,4581,2561,108364],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570101"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=570101"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570101\/revisions"}],"predecessor-version":[{"id":570107,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/570101\/revisions\/570107"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/570102"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=570101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=570101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=570101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}