Decentralized Finance

DeFi Tokens Solana (SOL) and Terra (LUNA) Leap to New Highs!

The overall cryptocurrency market is trading bearish, with Bitcoin losing 2.06 percent and Ethereum losing approximately 5.87 percent, and Cardano price dropping to $2.42. Traders are hoping the technical charts will recover during the weekend. while the rest of the pack seems to be stuck Solana (SOL ) and Terra (LUNA) surged high.

The price of Solana has risen sharply, breaking into the top six cryptocurrencies. In the last month or two, SOL Price has snatched the crypto spotlight with a market capitalization of $21.1 billion. 

Developers from the decentralised finance (DeFi) and non-fungible token (NFTs) communities have flocked to Solana to take advantage of the blockchain’s quick block times and low transaction costs.

The price of Solana increased by another 20%, breaking beyond $200 and setting a new all-time high. SOL had a strong 43 percent price increase this week, reaching a new all-time high of $216. On Monday, the coin began to rise from $140 to break through $160. SOL fell as low as $130 on Tuesday, but immediately recovered and closed the day candle at $170. At the time of writing Solana is trading at $180.

Solana has the potential to be an Ethereum killer if properly deployed, with throughput reaching web scales and the possibility to improve DeFi.

Also Read : Ethereum Price Could Smash $50K and Solana Price $4K, But How & When?

TERRA ( LUNA )

While the cryptocurrency market, including Bitcoin, is in free fall, the LUNA Price has gained more than 26.2% in the last 24 hours and is presently trading at $41, making Terra one of the top gainers. After dipping below important support at $25 the day before, the token gained traction and climbed back to the $30 level and has also breached the $40 level today morning.

Terra is upgrading Columbus 5 in a big way. Terra, like other cryptocurrency platforms, is striving to improve and accelerate. These enhancements will make token switching easier, which is the ecosystem’s main purpose. Token burning will be possible with this update. As a result, each LUNA token becomes more valuable.

Terra’s form of decentralized finance, “TeFi,” will be added to the blockchain as part of the upgrade. The upgrade is scheduled for September 30th, according to Terra’s Twitter account.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

Recent Posts

Missed BTC & ETH ? Here Are Top 6 Altcoins Traders Can Bet This Bull Season !

After the debut of the first US bitcoin futures exchange-traded fund two days ago, bitcoin…

46 mins ago

Minto to Launch Staking on October 21, 2021

Minto is the project that allows users to get rewards in bitcoin by staking BTCMT…

5 hours ago

Attention Traders !! This Is When Bitcoin Price May Plunge Below $50k !

The global crypto market cap is now up more than 35 to 40% since the…

5 hours ago

Terra (LUNA) Price to Hit the $100 Milestone! Here’s When?

LUNA has been one of the marathon runners lately. The altcoin is garnering the interest…

7 hours ago

Garlinghouse Speaks About XRP Based ETF ! XRP Price Sees no Action!

Ripple Price Action The price of Ripple has been static for the previous week, disappointing…

7 hours ago

Bears Gearing up to Drag Bitcoin Down, This Is How BTC Price Can Defend Itself!

The cryptocurrency market remains vivid lately. While some flourish, others lose out-breath on their run.…

9 hours ago