Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap

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.

Terra (LUNA) gains 70% in 7 days, overtaking Cardano and Solana by market cap

Cover art/illustration via CryptoSlate


CoinDesk Consensus

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.

Top 10 Coin Rankings
Top 10 Coin Rankings (via CryptoSlate)

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.

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.

At the time of press, Terra is ranked #7 by market cap and the LUNA price is up 25.36% over the past 24 hours. LUNA has a market capitalization of $34.29 billion with a 24-hour trading volume of $5.01 billion. Learn more ›


1 Mar at 12:02 am UTC



LUNAUSD Chart by TradingView

Terra On-Chain Analysis
Market summary

At the time of press, the global cryptocurrency 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 ›