Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap 🚨 This article is 3 years old...
Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap
Terra (LUNA) is now the 7th-largest crypto on the market.
2 min read
Updated: Mar. 1, 2022 at 12:02 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
While the crypto market remains highly volatile amid the ongoing armed conflict between Russia and Ukraine, Terra (LUNA) swiftly moved against the crowd and surged by more than 70% over the past seven days.
At press time, LUNA was trading at $85.83, up 15.3% on the day, according to CryptoSlate data. On the weekly chart, however, the coin’s price surged by 71.9% since last Monday.
Consequently, the price hike has boosted LUNA’s market capitalization (the combined price of all its tokens currently in circulation) to nearly $32.1 billion, making it the seventh-largest crypto in the world.
Notably, Terra has outpaced both Cardano (ADA) and Solana (SOL)—now ranked 9th and 8th, respectively—on its way to the top.
Still, both coins are also showing positive results. At press time, ADA was trading at $0.9361, up 9.9% on the day. In its turn, SOL’s price reached $98.27, gaining 15.1% over the past 24 hours.
Crypto rebounds despite turmoil
As CryptoSlate reported, cryptocurrencies have recently taken the spotlight and are playing a significant role in helping to facilitate donations to beleaguered Ukraine.
For one, a new non-governmental organization created to support the Ukrainian army has already received 192.4 Bitcoin (BTC) from compassionate users—currently worth over $8 million.
Why should he have to pay hundreds of thousands in cap gains if it takes two minutes for them to create an address?
— joelaustin.eth (@carolousue) February 27, 2022
Yesterday, Gavin Wood, the founder of Polkadot, even promised to single-handedly donate $5 million to Ukraine if the country provides its DOT address.
While the move faced some criticism initially as some users accused Wood of “shilling” his project amid a tragedy, less critical commenters pointed out that Wood may want to avoid capital gains taxes by paying in DOT tokens.
In his turn, Ukraine’s Deputy Prime Minister Mykhailo Fedorov, who is apparently not satisfied with Russia’s SWIFT ban alone, called for crypto exchanges to also block all Russian addresses.
Since then, major exchanges Binance and Kraken have officially refused to do so—unless obliged legally. Perhaps it wasn’t such a great idea to demand bans from the community focused on decentralization, transparency, and inclusion after all.
Terra Market Data
At the time of press 12:02 am UTC on Mar. 1, 2022, Terra is ranked #7 by market cap and the price is up 25.36% over the past 24 hours. Terra has a market capitalization of $34.29 billion with a 24-hour trading volume of $5.01 billion. Learn more about Terra ›
Crypto Market Summary
At the time of press 12:02 am UTC on Mar. 1, 2022, the total crypto market is valued at at $1.91 trillion with a 24-hour volume of $804.63 million. Bitcoin dominance is currently at 42.94%. Learn more about the crypto market ›
Mentioned in this article
Author 
Liam Frost
Liam Frost is a freelance journalist and editor with over 15 years of experience working for various media outlets across the world.
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In this article
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems.
Solana
$199.398
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Cardano
$0.99293
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
