Terra (LUNA) price rises to a new all-time high of $77.16

The price of LUNA, the native cryptocurrency of payment-focused blockchain network Terra, reached a new all-time high of $77.16.

New High for LUNA

Earlier today, the price of LUNA, the native cryptocurrency of payment-focused blockchain network Terra, reached a new all-time high of $77.16.

The cryptocurrency has surpassed Polkadot to take 9th place on CoinMarketCap.

It has increased by 35% in the last 24 hours, extending its bullish streak.

The token's market valuation has now risen to $30 billion, placing it only below the Ripple-affiliated XRP.

The record price peak for LUNA occurred after a huge market meltdown that sent shockwaves throughout the industry.

On December 4, Bitcoin, the largest cryptocurrency by market capitalization, plummeted by an astounding 21%, pushing the great majority of significant altcoins substantially lower.

However, Ether beat Bitcoin greatly, with the ETH/BTC pair reaching 0.855 BTC, its highest level since May 2018.

Bitcoin's market share has now fallen below the psychologically significant 40% barrier.