Cryptocurrency News

3 key metrics signal Terra (LUNA) price is preparing for a recovery

05/05/2022

Less than a minute

2022.05.05 02:16

3 key metrics signal Terra (LUNA) price is preparing for a recovery

Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date and even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support.

Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to become the third-largest stablecoin on April 18 and the April 26 announcement that Fireblocks, a digital asset custody platform had seen institutional clients invest over $250 million into the Terra decentralized finance (DeFi) ecosystem.

05/05/2022

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