The price of the digital currency LUNA rises by 250% in one hour…Details here
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Answer The price of the digital currency LUNA rises by 250% in one hour…Details here
LUNA which is the cryptocurrency of the Terra ecosystem is going through huge fluctuations at the time of writing this article.
In the last hour alone, the price of the digital currency LUNA rose by a whopping 250% and reached $6 and is now trying to climb to the $7 level.
This move occurred in a large size compared to the previous days.
LUNA’s price has surged an astonishing 250% in about an hour as it is currently trading at around $6.8.
It is clear that volatility has increased significantly, as the subsequent candle also has an amplitude of more than 80%.Read:The President of El Salvador stated: The digital wallet “Chivo” now has more users than any Salvadoran bank
This led to a large number of liquidations for the LUNA cryptocurrency.
In less than an hour, nearly $7 million in leveraged positions were wiped out of the market.
It is also worth noting that the move comes shortly after LUNC, the cryptocurrency that supports the classic version of the Terra ecosystem, surged almost 100% in a week.Read:Hedera Hashgraph Project Unveils Mainnet Launch Date
The latter happened because major exchanges such as Binance KuCoin and GateIO provided support for the tax-burning mechanism of the coin.
Binance clarifies its position on the tax burning mechanism of “LUNC” and “USTC”
Bitcoin price regains $20,000 level with more than $160 million liquidated
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