Last week the market reacted to the military offensive decreed by Vladimir Putin, from Russia, against Ukraine. First, major cryptocurrencies moved lower, with bitcoin (BTC) leading the decline; then, there was a recovery that is now taking hold at the beginning of this new week.
Thus, at the close of the market this Sunday, February 27, there was a certain balance between the top cryptocurrencies: some closed lower, while others had a very positive week of trading.
In that list, the most winning was terra (LUNA). This cryptocurrency appreciated nearly 50% between Monday, February 21, and the end of this Sunday, February 27, after Luna Foundation Guard raised about 1,000 million dollars to strengthen the support of its stablecoin UST.
It also stands out in this selection of altcoins from CriptoNoticias waves, which for the second consecutive week gets into the top; beside UNI, the DeFi Uniswap token which overtook ether (ETH) as the most traded token from whales on Binance.
This week’s top altcoins are completed by the exchange’s token Bitfinex, UNUS SED LEO (LEO); and Polkadot’s DOTwhose stablecoin AUSD was recently launched.
As we said at the beginning of this bulletin, the week was full of ups and downs as the war scenario intensified. However, bitcoin (BTC) managed to recover much of its losses over the week to close less than 2% down.
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Of the top 5 cryptocurrencies in the market, ETH had a behavior very similar to that of BTC and closed the week with less than 1% drop. The same did not happen with the others in that top: both Binance Coin (BNB) and cardano (ADA) and Ripple’s XRP fell between 5% and 7% in that period.
Terra raises a billion dollars
One piece of news that could be helping terra’s momentum (LUNA) is the recaudation of about a billion dollars from the Luna Foundation Guard. The money is intended to create a reserve fund valued in BTC to strengthen the Terra stablecoin (UST).
During the past week, LUNA increased by 47%, going from about $49.32 to more than $72 per unit. At the time of writing this bulletin, the token has risen another 17% during the day on Monday, February 28, following the rise with which BTC also opened in the market this week.
The total capitalization of LUNA is about 32 billion dollars, with an almost 50% spike in cryptocurrency trading activity on exchanges: in the last 24 hours, some 4.4 billion dollars have been moved in LUNA .
Waves keep going up, just like last week
In our top cryptocurrency newsletter for the previous week, Waves was one of the few coins that stood out on the upside, with nearly a 10% increase between last Sunday and Monday.
Now, WAVES is once again among the most appreciated, with a 20% increase between February 21 and 27. In that time, it went from 9 to more than 11 dollars per coin.
In the absence of any new news that contributes to this increase, it seems that the currency continues its rise while the anticipation for its NFT Duck Wars game grows. As has happened with Terra, this cryptocurrency started the new week with another boost: nearly 14% at time of writing.
WAVES’ capitalization stands at over $1.3 billion, with more than $500 million in 24-hour trading volume.
Uniswap gains ground on Ethereum among Binance whales
The third place in this top was occupied by UNI, the token of the Uniswap decentralized finance protocol. With the arrival at UNI, we lowered the levels of increase that we had been seeing in this top: 4.49% was the percentage of increase of the token during the past week.
Recently, data from Whale Stats reported increase important in UNI trade among the top whales on Binance on your BNB Chain. Even surpassing records of ETH, the native cryptocurrency of Ethereum.
With that increase, UNI went from $9.35 to $9.77, paving the way for new levels. And it just started this week passing the 10 dollars per unit, floor that had recently lost.
UNI’s capitalization is approaching $7 billion right now. In addition, with an increase of almost 50%, in a range of 24 hours a volume close to 500 million is traded of dollars in this coin.
LEO remains green after identification of Bitfinex thieves
The case of the Bitfinex hack was one of the most notorious at the time, with a theft of more than 100,000 bitcoins in one of the main exchanges in the market. And so far this year, this has been in the news again after the funds were seized from the alleged thieves.
Already in previous weeks, the exchange’s token, UNUS SED LEO (LEO) had registered considerable increases in its market valuation. And this week it integrates the top with another almost 4% increase.
Bitfinex coin closed hovering around $6 per unitalthough at the beginning of this week it is moving away to the downside.
LEO has a market capitalization more than 5 thousand 500 million dollars today. And traders are moving nearly $7 million worth of this token in cryptocurrency trades in 24 hours.
Polkadot closes the top thanks to its stablecoin AUSD
This top is finished by Polkadot (DOT). The token is up 3.49% over the last week, which closed with a market value of 17.5 dollars per unit. In that period, the coin that makes up the top 20 of the market had started below 17 dollars.
A few days before this increase, the coin had been down like the rest of the market, despite the AUSD stablecoin launchwhich is broadcast on Polkadot with a collateral-based protocol, similar to DAI.
DOT trading volume in a 24-hour range stands at about $1.5 billion on exchanges, while the token exceeds 17 thousand 400 million dollars of total capitalization of its working capital.