LUNA rallies as Terra raises $1 billion to create a Bitcoin reserve for UST
Terra’s native token LUNA is up over 14% following the news of one of the more impressive raises the crypto space has seen to date.
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Bitcoin is testing resistance at the psychological level, after another exuberating price recovery.
Markets seem to be cheering up the past day. Bitcoin price is once again above $40,000, and all major alts are in the green. Buying pressure is coming from medium- and long-term holders.
Since all-time-high in November 2021, things has been looking gloomy in the cryptocurrency market with bitcoin falling almost 50%. But there are clear trends suggesting a shift is on the horizon.
The recent sell off was largely driven by sentiments over U.S. Federal Reserve’s quantitative tightening and projections of increased interest rates, however crypto fundamentals are stronger than ever.
Why comparing the current market decline to the infamous 2018 crash makes no sense.
Solana’s actual transaction per second stands at actually 3000 which is still very far ahead of Ethereum’s 10.