Tuesday, February 7, 2023

LUNA Remains The Only Green Crypto In Top 10 As BTC Struggles

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LUNA remains the only green crypto in the top 10 as BTC struggles and remains stuck below $39,000 as we can see more today in our latest altcoin news.

Terra and Avalanche are the two bigger-cap altcoins that made substantial gains. BTC remained calm after teh recent rollercoaster and now sits below $39,000 while most other coins are in a similar position with little to almost no moves in either direction. Aside from ALGO which soared by double digits, Terra and Avalanche recorded some slight gains. The past few days were intense for the main cryptocurrency as the asset failed at $41,000 and headed south and in a few hours, it lost $3000 and fell below the $38,000 price range.

BTCUSD. Source TradingView

Despite reacting well to the price drop and surging above $40,000 once again, BTC was stopped in the tracks and dropped to a new monthly low a few days after struggling near $37,000. the bulls tried to initiate a recovery session which drove BTC Above $39,000 but BTC failed to overcome the level and sits under it right now. The market cap remains below $750 billion but the dominance is over 42%. the altcoins were also in much better shape with most of the larger-cap ones making bigger gains or being in the red.

LUNA remains the only green crypto in the top 10 as ETH failed at $3000 and drove the rejection by around $250. it bounced off yesterday and a minor daily rise means that the crypto trades at $2850. Binance coin, DOGE, ADA, and SOL all made smaller increases while DOT, Ripple, and SHIB made some bigger declines. Terra and Avalanche increased the most from the larger cap altcoins with 4% each and now LUNA sits at $85 while AVAX is set at $61.

Algorand is the biggest gainer with a strong 24% surge which came after the impressive partnership with FIFA. The crypto market cap is calm at around $1.750 trillion.

ALGOUSD. Source TradingView

As earlier reported, One of the biggest sports organizations signed the second crypto-related partnership with Algorand and as a result, the latter’s native token surged by double-digit and marked a new weekly high. According to the official announcement, Algorand will now be the official blockchain partner of FIFA and therefore ALGO explodes by 25%. The platform will provide a blockchain-supported wallet solution which will take place later this year in Qatar and the company will also be a regional Supporter of the World Cup in North America and Europe but also the Official Sponsor of the Women’s World Cup in Australia and New Zealand.

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