LUNA, the cryptocurrency that powers Terra’s ecosystem, is experiencing major volatility at the moment of writing.
LUNA’s stock price soared by 150% in the last hour and nearly reached $5. This move was much more than the previous days.
The price of LUNA exploded by a staggering 150% in just one hour. It is currently trading at $4.7.
Source: TradingView, Binance
It is also obvious that volatility has increased tremendously. The next candle had an amplitude that was about 20%. This resulted in a significant number of liquidations of that cryptocurrency. In just one hour, nearly $7 million worth of leveraged positions was wiped from the market. It is also important to note that this move occurs just after LUNC – the cryptocurrency that powers Terra’s classic version – soared by approximately 100% weekly. This was due to GateIO and KuCoin providing support for the protocol’s tax-burn mechanism.
CryptoPotato’s first article, LUNA Explodes 150% in One Hour As Volatility Ramps Up appeared on CryptoPotato.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.