Terra (LUNA) price rallies 162% while Bitcoin and altcoin prices drop

Cointelegraph

Published Aug 03, 2021 04:13PM ET

Updated Aug 03, 2021 06:20PM ET

Bitcoin (BTC) price appears to have faked out investors with its move to $42,000 last week and while the digital asset struggles to hold above $38,000, altcoins with strong fundamentals and real-world applications are gaining momentum.

Terra (LUNA), a blockchain protocol that backs the fiat-pegged TerraUSD (UST) stablecoin, is one such project that has managed to buck Bitcoin’s downtrend and climb higher since the start of August

LUNA/USDT 1-day chart. Source: TradingView
Terra ecosystem. Source: Smart Stake

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