Terra (LUNA) Price Reaches New Record High Despite Brutal Market Correction

Terra (LUNA) Price Reaches New Record High Despite Brutal Market Correction

The price of LUNA, the native cryptocurrency of payment-focused blockchain network Terra, has reached a new all-time high of $77.16 earlier today.The cryptocurrency has climbed to 9th spot on CoinMarketCap, surpassing Polkadot.It is up 35% over the past 24 hours alone, extending its bullish streak.

The token’s market capitalization has now swelled to $30 billion, which puts it right below Ripple-affiliated XRP. LUNA’s record price peak came amid a massive market crash that sent shockwaves through the industry.On Dec. 4, Bitcoin, the largest cryptocurrency by market cap, crashed by an eye-popping 21%, sending the vast majority of major altcoins sharply lower.However, Ether significantly outperformed Bitcoin, with the ETH/BTC pair spiking to 0.855 BTC, its highest level since May 2018.Bitcoin’s market share has now slipped below the psychologically important 40% level.

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