Today, cryptocurrency prices soared, with Bitcoin trading above USD30,000 for the first time. The world's biggest and most popular cryptocurrency rose by more than 2% to USD30,034. However, it is down 36% so far this year and is trading well below its November 2021 high of USD69,000.
On the other hand, Ether, the second largest cryptocurrency and the coin tied to the Ethereum blockchain, increased by over 3% to USD2020. Meanwhile, the price of dogecoin increased to USD0.08 today, while the price of Shiba Inu increased by more than a percent to USD0.000012.
Other digital tokens' performance improved as well, with Solana, Cardano, Avalanche, Polygon, Stellar, XRP, Polkadot, Tron, Litecoin, and Uniswap prices trading with gains over the last 24 hours, according to CoinGecko, while Terra (Luna) and Terra USD rallied over 76 percent and 19 percent to USD0.00021 and USD0.06, respectively.
Last week's downfall of the algorithmic stable coin TerraUSD and its sibling token Luna shook the crypto sphere, sending values tumbling and upsetting the entire ecosystem supporting the coins. This month, TerraUSD (UST) fell off its intended 1-to-1 peg to the dollar, dragging Luna down with it.
According to CoinGecko data, Luna's market value has decreased from more than USD20 billion before the TerraUSD collapse to around USD840 million. Since its depreciation, UST has lost nearly USD17.5 billion in value.