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HomeBusinessMost Cryptocurrency Including Bitcoin, Ether Gained, But Terra (LUNA) Still Bad

Most Cryptocurrency Including Bitcoin, Ether Gained, But Terra (LUNA) Still Bad

After battling on the red mark for the past several days, there has been a slight improvement in the cryptocurrency market on Monday. On May 16, the world’s most popular cryptocurrency bitcoin opened with a profit of 2.88 percent. This took the price of bitcoin to $32,073 (approximately Rs.25 lakh) on Coinswitch Kuber. The same was seen on international exchanges as well. BTC gained 2.82 percent in value on Binance and 2.81 percent on Coinbase. The global price of BTC is currently around $30,404.

At the same time, Ether, the world’s second most popular cryptocurrency, also appeared to be following the path of bitcoin. Gadgets 360 crypto price tracker Told that after gaining up to 3.32 percent, the price of ETH in India has reached $ 2,193 (about Rs 1.70 lakh).

Binance Coin, Cardano, Solana, Polkadot and Avalanche have also reported profits. Stablecoins, which have been seeing tough times for the past few years, have also started getting back on track. Tether, USD Coin and Binance USD are among the coins that have made a good start this week. Dogecoin and Shiba Inu, popularly known as Mim Coins, have also started recording profits, eliminating losses.

However, some cryptocurrencies are still seen in losses. Chief among them is Terra (LUNA), which also got off to a bad start on Monday. The LUNA altcoin, once the eighth largest cryptocurrency by market cap, is down more than 99 percent. Currently LUNA is witnessing a huge decline of 31.36 per cent and its value has reached to $0.0013 (approximately Rs.0.01).

Tera’s overall market cap fell below $2.75 billion (about Rs 21,246 crore) last week, after which it slipped to number 34 on the list of top cryptocurrencies. When it was at its peak, it was the eighth largest cryptocurrency with a market cap of $25 billion (about Rs 1,93,150 crore).

Overall, the market has seen a recovery. According to CoinMarketCap, the market cap of the crypto sector stood at $1.17 trillion (about Rs 91,01,968 crore) as of May 12, which has increased to $1.30 trillion (about Rs 10,133,150 crore) in the past few days.

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