Terra‘s “LUNAtics” aren’t content with going to the moon – they want Mars as well.
Most cryptocurrencies are in retreat this morning, with Bitcoin dipping under US$39,000, but Terra is holding firm at just under US$100 — up from around $5 last June and July.
The gains appear linked to the launch of Mars Protocol, a credit protocol being built on the Terra network that went live on Tuesday.
The Red Bank “has the potential to accept any form of digital value for deposits and loans, from cryptos to synthetic stocks and beyond,” its website claims.
Terra set an all-time high of $103.88 earlier in the week but faded back under $100.
$LUNA shows us that #crypto is not done yet
One does not simply make new ATH’s in a “bear market” 👌👌 pic.twitter.com/Qjna78zxjM
— BTCfuel (@BTCfuel) March 10, 2022
New $LUNA all time high amidst the chaos.
RIP to all the commenters on my older tweets telling me to eat my socks when it goes back to $10. $UST is one of the most innovative products in all of #crypto and it’s only getting started.
— Sheldon (@SheldonEvans) March 9, 2022
Crypto market down 5.6%
Overall the crypto market stood at $1.81 trillion, down 5.6 per cent from 24 hours ago, with Bitcoin down 6.3 per cent to US$38,850. Ethereum had fallen 4.7 per cent to US$2,573.
There was a little bit of volatility around 12.30am AEDT, with the release of inflation data showing US consumer prices rose by an annualised 7.9 per cent in February, a 40-year high. But ultimately the data didn’t move the market much.
Coingecko showed just 10 of the top 100 cryptos, including Terra and five stablecoins, were in the green.
Stacks was the biggest gainer, up 28 per cent to $1.42, with Zcash the other double-digit winner, up 10.4 per cent to $154.
Arweave was the biggest loser, falling 15.7 per cent to $31.34.
