The digital currency ecosystem witnessed a tumultuous price action, with XRP, LDO, and LUNC remaining the top performers overall.
In preparation for a bullish start to the new week, the digital currency ecosystem is emerging from the mixed performances of the previous week. Three digital currencies, including XRP, Lido DAO (LDO), and Terra Classic (LUNC), recorded impressive gains in the preceding seven-day period. In contrast, most altcoins suffered significant losses during the previous week.
Summary of the three tokens for the past week;
XRP
XRP impressed numerous investors across the board as its price soared to $0.54 after publishing a total of 13% within the period under review. After many weeks of trading in a narrow range, XRP eventually converted the $0.5 resistance level into a formidable support.
The U.S. Securities and Exchange Commission (SEC) and Ripple Labs Inc., a blockchain-based payments company affiliated with XRP, are still embroiled in a significant lawsuit over the cryptocurrency. Numerous experts believe that the litigation’s outcome will substantially impact the future price of cryptocurrency.
Lido DAO
Lido DAO remains the preeminent Liquid Staking Derivatives (LSD) platform in the Decentralized Finance (DeFi) ecosystem. Lido DAO has attained immense popularity, a trend that favors its native token LDO, due to its unique offering to multiply investors’ returns.
LDO is trading at $2.29, representing a cumulative 13% increase over the past week. While LDO fell to a weekly low of $2.04, its popularity propelled it to a new high of $2.36 in the early hours of Sunday.
Terra Classic (LUNC)
Terra Classic is arguably the most incredible performer of the week, with its price increasing by 26.24% to $ 0.000110 over the past week. Over the past 24 hours, the token’s value has increased by more than 30%, resulting in a price increase.
LUNC is investigating several impressive initiatives to assist in reviving the token’s price, which plummeted when the UST stablecoin was depegged last year around this time. One of these initiatives is implementing a 1.2% burn tax to stabilize the token at $1.
