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Terra’s LUNA Set New Highs of Nearly $106

Prices have increased nearly 10% in the past 24 hours.

By Shaurya Malwa
Updated May 11, 2023, 6:59 p.m. Published Mar 29, 2022, 5:45 a.m.
(Getty Images)
(Getty Images)

Terra’s LUNA tokens rose 10% in the past 24 hours to set new all-time highs of over $105.91, data shows.

  • LUNA breached a previous high of $104.74 from earlier this month, price charts show.
LUNA set new highs this morning. (TradingView)
LUNA set new highs this morning. (TradingView)
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  • LUNA is one of the two native tokens of the Terra network, a framework that allows developers to create custom blockchains and build their own decentralized applications on top of Terra for various use cases.
  • Sentiment for LUNA has grown in the past month largely due to the Luna Foundation Guard (LFG), a Singapore-based nonprofit that is purchasing over $3 billion worth of bitcoin BTC$66,900.46 as an additional layer of security for UST, Terra's decentralized dollar-pegged stablecoin.
  • LFG’s demand for bitcoin has led to a recovery in the past week. Bitcoin breached the $47,000 level yesterday, the highest level since the start of this year.
  • Data shows LUNA has risen some 86,215.7% from all-time lows of $0.121798 in March 2020, making it one of the best performing tokens in the past two years. LUNA has a market capitalization of $37 billion at time of writing and is ranked eighth largest among other cryptos.
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JPMorgan bullish on crypto for rest of year as institutional flows set to drive recovery

Автор Will Canny, AI Boost|Редактор Stephen Alpher
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Credit: quietbits / Shutterstock.com

After bitcoin fell below its estimated production cost, the bank said stronger fundamentals and rising institutional inflows could lift crypto in 2026.

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  • JPMorgan sees renewed institutional inflows driving crypto markets higher in 2026.
  • Bitcoin’s estimated production cost has fallen to $77,000, creating a potential new equilibrium after miner capitulation.
  • Additional U.S. crypto legislation could provide the clarity needed to unlock further institutional participation, the bank said.

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