LUNA Soars 6% While The Bitcoin Price Slips Below $42K

LUNA soars 6% while the Bitcoin price slips below $42,000 and most other alternative coins keep on losing their value to new weekly lows so let’s read more today in our latest cryptocurrency news today.

LUNA soars 6% and reached $80 after a recent 6% price increase. Another day came with a recent price drop of BTC and it dipped to a nine-day low of over $41,000 most other altcoins are also in the red with LUNA being among the few exceptions. It was a few days ago when BTC was trading higher and touched $44,000 on a few occasions but after each attempt to overcome this level, the bears came to play and pushed the coin south.

This culminated in a few drops consecutively and BTC slid to $42,000 as reported. In the past 24 hours, it tried to recover ground and neared $43,000 at one point. The gloomy state of the market didn’t allow for more increases. Bitcoin started to lose value once again and dumped to $41,200 and became the lowest price point in over a week so now the cryptocurrency reclaimed $300 but it is still in the red on a daily scale. The market cap remained below $800 billion.

Other altcoins are in better shape like Etheruem. It traded above $3400 a few days ago but lost value a few days in a row as well. As of now, a 3% decline on the daily scale pushed the coin to below $3100. Cardano is among the biggest losers in a day after a few days of riding high and ADA lost 8% of the value and sits below $1.4. Further losses were evident from Ripple, Solana, Dogecoin, DOT, Avalanche, MATIC, CRO, and NEAR Protocol. Terra is the only larger-cap altcoins that were standing out as LUNA touched $80 with a 6% price jump. The crypto market cap is down by another billion in one day to .
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950 trillion.

The DEFI sector took quite the hit over the past day with some of the top defi tokens like Uniswap’s UNI suffering major losses. UNI is down by 11.8% slipping to a low of $15.29and the token lost about 16% of the value in the past two weeks and it is now 65.9% off the all-time high of the $44.9 seen in May last year. LINK as the native token of Chainlink slipped to a two-week low and lost 7.1% over the day and 20% in the past week.