• Latest
bitcoin jumps to $42,000, luna tops the charts with 20% gains

Bitcoin Jumps to $42,000, LUNA Tops the Charts With 20% Gains

März 10, 2022
6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine

März 31, 2023
Judge denies SEC motion to keep Hinman docs secret in Ripple case

Judge denies SEC motion to keep Hinman docs secret in Ripple case

März 31, 2023
The ultimate guide to Miami – Cointelegraph Magazine

The ultimate guide to Miami – Cointelegraph Magazine

März 31, 2023
Dr. Jane Thomason – Cointelegraph Magazine

Dr. Jane Thomason – Cointelegraph Magazine

März 31, 2023
1658007797 celsius is bankrupt with 12b balance sheet hole su zhu.jpg

Celsius is bankrupt with $1.2B balance sheet hole, Su Zhu returns to Twitter and OpenSea purges 20% of employees: Hodler’s Digest, July 10-16

März 31, 2023
6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

6 Questions for Lisa Fridman of Quadrata – Cointelegraph Magazine

März 31, 2023
Jed McCaleb empties XRP wallet after eight-year selloff

Jed McCaleb empties XRP wallet after eight-year selloff

März 31, 2023
Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

Celsius has finally filed for bankruptcy: Law Decoded, July 18-25

März 31, 2023
The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

The ‘godfather of crypto’ risked lifetime in jail, laying foundation for Bitcoin – Cointelegraph Magazine

März 31, 2023
SEC objects to XRP holders aiding Ripple defense

SEC objects to XRP holders aiding Ripple defense

März 31, 2023
Blockchain technology is transforming the real estate market – Cointelegraph Magazine

Blockchain technology is transforming the real estate market – Cointelegraph Magazine

März 31, 2023
1658612147 nfts banned in minecraft sec lists 9 tokens as securities.jpg

NFTs banned in Minecraft, SEC lists 9 tokens as securities and 3AC founder blames cockyness for company meltdown: Hodler’s Digest, July 17-23

März 31, 2023
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Bitcoin Jumps to $42,000, LUNA Tops the Charts With 20% Gains

coinnewsdaily by coinnewsdaily
März 10, 2022
in Business, Ethereum
0
bitcoin jumps to $42,000, luna tops the charts with 20% gains
193
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

 

all-time high

The most important lessons are that Bitcoin has topped $42,000 and has inspired broader positive activity across cryptocurrency markets.

Related articles

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022

The unexpected surge in the value of digital assets may have been triggered by a comment made by the US Treasury Secretary on the planned tax reform. The Executive Order on Cryptocurrencies signed by Vice President Biden
Terra was one of the most significant beneficiaries of today’s rise; the ecosystem’s leading LUNA rose by more than 20% and is now within striking reach of its all-time high (ATH).
As a result of the publishing of a statement on digital assets by the United States Treasury, cryptocurrency markets have risen sharply.

The bulls had the better hand today, as the total cryptocurrency market capitalization climbed by about 6 percent in the early hours of Wednesday, reaching $1.89 trillion. On the heels of more than 8 percent 24-hour gains, Bitcoin breached the $42,000 barrier, while Ethereum and other major altcoins followed in the footsteps of the world’s oldest and largest cryptocurrency, posting gains in the high single digits. At the time of publication, 93 of the top 100 digital currencies were trading in the positive territory.

On Tuesday, US Treasury Secretary Janet Yellen issued a statement regarding the Biden administration’s planned executive order on the cryptocurrency industry. Read the message here. The message was published a day early and withdrawn from the site as soon as it was discovered, but not quickly enough to avoid being captured in a digital archive.

It’s difficult to say how much of an impact the announcement had on today’s market rise, but it was significant. However, if President Biden’s recent statement is any indication, his imminent executive order is unlikely to entail significant changes in crypto law. The following is an extract from Yellen’s statement:

A report on the future of money and payment systems will be produced in collaboration with interagency partners by the Treasury Department. As part of this process, we will convene the Financial Stability Oversight Council, which will analyze the possible financial stability risks associated with digital assets and determine if suitable safeguards are in place.“

Terra’s LUNA rises 20 percent in value and is aiming for a $100 price tag.

When talking about today’s rise, it’s impossible not to mention LUNA’s outstanding performance on the stock market thus far. Over the course of the last 30 days, the price of LUNA has climbed by more than 75%, placing it among the top performing digital assets during that time frame. After posting double-digit gains today, LUNA set a new cycle high of $98.5, which is less than 5 percent behind the stock’s previous all-time high of $102.8, which was reached at the tail end of 2021.

More than 75% increase in the price of LUNA has occurred in the course of a little more than two weeks.

The LUNA price increase corresponds to the rapid expansion of the Terra ecosystem, both in terms of its native stablecoins such as TerraUSD and TerraKRW and the larger DeFi application space. More than $25 billion worth of digital assets is locked away in decentralized protocols operating on the Terra blockchain, according to blockchain analytics firm DeFi Llama. This is an increase of 74 percent from the previous month’s total. To put this in perspective, Ethereum is the top-ranked cryptocurrency with a TVL of $114 billion, while the third-ranked BNB Chain has a TVL of approximately $12 billion.

It will be interesting to see whether LUNA is able to build on the momentum that has been generated over the past two weeks and whether it is able to re-enter the $100 range in the coming days.

David is a cryptocurrency enthusiast who also happens to be a specialist in personal finance. He has produced a large number of publications for a variety of platforms. It was because he enjoys discovering new things that led to him discovering blockchain in the first place.

 

Tags: all-time highAltcoinsauthorBidenBitcoinBlockchainBNBBullishBusinessCryptoCrypto BusinessCryptocurrencyDeFiDigital currenciesEthereumexecutivefinanceinIncreaseJanet YellenLUNAMajorMomentumMoneyNotNumerousOtherPartnerPayment systemspersonal financePresidentpriceRallyReportSecretarystablecoinsTERMSTERRAtotalTreasury SecretaryU.S. TreasuryUS TreasuryUseWill
Share76Tweet48
Previous Post

Is Ethereum still DeFi’s future?

Next Post

Bitcoin is great, but real crypto innovation has moved elsewhere

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses
Business

IoTeX’s MachineFi Lab challenges Big Tech by democratizing IoT to benefit users and businesses

Juli 26, 2022
Top 3 cryptocurrencies that are faring the best in the 2022 bear market
Alt Coin

Top 3 cryptocurrencies that are faring the best in the 2022 bear market

Mai 24, 2022
Core Ethereum developer details changes to expect after the Merge
Ethereum

Core Ethereum developer details changes to expect after the Merge

Mai 24, 2022
fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher
Ethereum

fUSD stablecoin launch and rumors of Cronje’s return send Fantom (FTM) price higher

Mai 23, 2022
Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB
Alt Coin

Price analysis 5/23: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Mai 23, 2022
The Moon ‘created’ his lavish reality… and says you can, too
Ethereum

The Moon ‘created’ his lavish reality… and says you can, too

Mai 23, 2022
Load More
Next Post
Bitcoin is great, but real crypto innovation has moved elsewhere

Bitcoin is great, but real crypto innovation has moved elsewhere

Kategorien

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • 6 Questions for Rene Reinsberg of Celo – Cointelegraph Magazine
  • Judge denies SEC motion to keep Hinman docs secret in Ripple case
  • The ultimate guide to Miami – Cointelegraph Magazine
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

Please enter CoinMarketCap Free Api Key to get this plugin works.
✕
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev