Terra Luna came out as winner in prices recovery, after Russia-Ukraine conflict

25. Feb 2022 Posted by Akolkar B on News

After the crypto prices nosedive in the last week, it finally bounced back in the last 24 hours. Terra Luna came with a 28% growth and declared itself a winner.

Since last week due to the geopolitical situations around the globe, the financial and crypto markets have had a major fall.

After Russian President Vladimir Putin authorized a special military operation and declared war on Ukraine, the price of several major coins tanked by 15%.

However, the market stabilized today, with Terra (LUNA) performing significantly better than before and an unexpected 28% gain. Yesterday Terra was trading at as low as $51, but presently it is selling at $65.44. Ironically, Terra lost the least amount when Russia attacked, but the 28% was way more than the original recovery establishing LUNA as a hero.

Bitcoin, the crypto market leader, saw a 10.26% growth with a loss of 5% in the last week. Popular coins like Ethereum (ETH) rose 12% – almost equivalent to what it had lost previously. 24-hour period – to top $2,600. The real-time price of Avalanche (AVAX) jumped to $75.51, with a 14% growth in the last 24 h hrs to a 15% loss in the previous week. Coins like Cardano (ADA) reached 85 cents with a 10% gain but is 18% down in a week, and meme coin Dogecoin (DOGE) also gained an equivalent following the 13% plunge last week.

Potential long-term Ethereum rival Solana (SOL) retrieved the 9% loss to reach almost $89.81 today. Ripple (XRP) and Binance Coin (BNB) each gained 10%. Also, Polkadot (DOT) climbed 11%, shooting at $16.12 with a seven-day price fall of 12%.

The founding members - Daniel Shin and Do Kwon, formed terra Luna in January 2018. The main reasons for Luna's advancement in the current years is due to its unprecedented growth and improving circulation of Terra protocol's stablecoin UST tokens. Tera also ranks among the top 5 in smart-contract chains by TVL with around $12.6 billion.

Terra LUNA is currently on #9 in the market, conquering Avalanche at #10 and Binance #11 only after following Solana at #8.