Name Price24H (%)
Bitcoin (BTC)
$48,532.00
1.81%
Ethereum (ETH)
$3,482.38
0.69%
Cardano (ADA)
$2.40
0.89%
Binance Coin (BNB)
$416.71
1.07%
Avalanche, Terra, ThorChain Hit by Midweek Market Slump
News

Avalanche, Terra, ThorChain Hit by Midweek Market Slump

Several major tokens from the top 100 touched on double-digit losses today amid an overall slump in the crypto market.

While most of the top cryptocurrencies dipped by just a couple of percent over the past 24 hours, LUNA, the native token of algorithmic stablecoin platform Terra, saw losses of over 10% today.

At press time, the token had begun to recover, currently trading at $26.70, down 7.1% on the day, according to crypto metrics platform CoinGecko.

The price of RUNE, the native token of decentralized liquidity network ThorChain, is similarly down by about 4%, hovering around $9.50.

Cosmos’ coin ATOM also slipped down to $18.33 today, down 2% in the past 24 hours.

Meanwhile, it looks like Avalanche’s (AVAX) price rally, which started last week, has finally come to a halt.

While the price of AVAX has more than doubled over the past week, the token dropped by over 14% today, trading at around $43.17—down from its highs of $50 yesterday.

On August 18, Avalanche’s bull run gained momentum after its developers announced a new $180 million mining incentive program for blue-chip decentralized finance (DeFi) projects.

Avalanche up 113% Since Launch of $180 Million Incentive Program

Popular DeFi platforms Aave and Curve Finance were among the first ones to join Avalanche’s new initiative, giving a boost to its token along the way.

Source: Decrypt.co

coinmag

Cryptocurrency news, blockchain news, markets news, cryptocurrency analysis, cryptocurrencies prices.