Terra Classic Recorded A 20% Increase In Just One Day How Did That Happen?

Bitcoin continued to move over the weekend, with the asset settling at around $19,000, or IDR 289.71 million (assuming an exchange rate of 15,248 per US dollar).

Most altcoins are still very quiet today, with small daily losses. On the other hand, LUNC continued its upward trend after double-digit price increases. Thus quoting cryptopotato, Sunday (2/10/2022).

The major cryptocurrencies had a quiet week unlike previous weeks. Late last week, the asset was trading at $19,000, or Rs 289.71 million, unchanged through Tuesday.

Since then, Bitcoin has surged to a 12-day high of $20,400. However, it was short-lived as Bitcoin headed south and fell back below $19,000.

It then bounces back and immediately returns to a familiar level and has been going on ever since. The only exception was when it went up to $20,000 on Friday but was rejected again.

Saturday was pretty boring and currently looks like the situation with Bitcoin price hovering above 19,000 Jordanian dinars. Its market cap is still $370 billion, or IDR 5,641 billion, and cryptocurrency dominance remains at 39.5%.

Most altcoins stagnate slightly on 24-hour gains, resulting in some losses. Ethereum has fallen more than 1% in one day, but is still above $1,300. It should be noted that ETH is one of the poorest performers since the merger took place two weeks ago.

Binance Coin, Cardano, Solana, Dogecoin, Polkadot, Shiba Inu and Avalanche also fell. Ripple, MATIC and TRON are all showing some daily gains.

LUNC is the best midcap player. Perhaps backing up Do Kwon’s recent claims, the Terra Classic is up 20% on the day and over 50% on the week.

However, today, the total cryptocurrency market cap remains at $935 billion, as most other alternatives remain.

Disclaimer: All investment decisions are in the hands of the reader. Research and analyze cryptocurrencies before buying and selling. is not responsible for any gains or losses arising from investment decisions.

Previously, the prices of top cryptocurrencies, including Bitcoin, continued their correction on Sunday (10 February 2022). Bitcoin and Ethereum prices are still slow.

On the morning of Sunday, October 2, 2022, Bitcoin (BTC), the cryptocurrency with the largest market cap, continued to correct in trading this weekend, according to Coinmarketcap data. In the last 24 hours, the price of Bitcoin has dropped 0.45%.

Last week, the price of Bitcoin rose 1.67%. The current price of Bitcoin is $19,314.16, or around IDR 294.24 million (assuming an exchange rate of IDR 15,234 to the US dollar).

Similarly, the price of Ethereum (ETH) is constantly being revised. In the last 24 hours, the price of Ethereum has dropped 1.37%. Over the past week, the price of Ethereum has dropped 1.05%. Ethereum is priced at $130.62, or about Rs 19.95 million.

The price of Binance Coin (BNB) has fallen 0.38% in the last 24 hours. However, BNB prices rose 2.37% last week. The price of BNB is 282.64 USD.

Meanwhile, the price of XRP has fallen 0.10% in the last 24 hours. Meanwhile, the price of XRP fell 1.75% last week. The current price of XRP is $0.4759.

Cardano (ADA) is priced at 0.4317 USD. In the last 24 hours, the price of Cardano has dropped a limited 0.55%. But last week, the price of Cardano fell 5.27%.

The price of Solana (SOL) has fallen 0.57% in the last 24 hours. Last week, Solana’s price fell 2.22%.

Similarly, the price of Dogecoin reversed the consolidation trend. The price of Dogecoin has fallen 1.57% in the last 24 hours. The price of Dogecoin fell 3.74% last week. Currently, Dogecoin is priced at 0.06077 USD.

A stable currency like Tether (USDT) has been in the red in the last 24 hours. The price of the rope at the location is 1.00 USD.

The US dollar (USDC) has fallen 0.01% in the last 24 hours. Last week, the USDC price fell 0.02%. The current USDC price is 1 USD.

Also, the price of the US Dollar (BUSD) on Binance has increased 0.05% in the last 24 hours. Last week, BUSD fell slightly 0.02%. Now the BUSD price is at 1.00 USD.

Previously, JPMorgan Chase CEO Jamie Dimon said in a US Congressional hearing that cryptographic tokens like Bitcoin are decentralized Ponzi scams. He told lawmakers that he was very skeptical about cryptocurrencies.

“I am very skeptical of crypto tokens that I call currencies like Bitcoin. They are decentralized Ponzi scams,” Dimon said on Friday (23 September 2022), citing Bitcoin.com.

The CEO of JPMorgan continues to point out that billions of dollars are lost every year through cryptocurrencies, linking it to crimes such as ransom payments, money laundering, prostitution, and theft. He stressed that encryption is ‘dangerous’.

The JPMorgan CEO also talked about the stablecoin, which he said would be fine with proper regulation.

“There’s nothing wrong with properly regulated stablecoins like money market funds,” Dimon said.

Regarding blockchain, he confirmed that JPMorgan is a big user of blockchain. Dimon, a longtime Bitcoin skeptic, has repeatedly warned investors to be careful when investing in cryptocurrencies.

He always warned that they had no intrinsic value. He previously said that Bitcoin has no value and questioned the limited supply of BTC.

However, the CEO of JPMorgan has repeatedly said that innovations like blockchain and DeFi are real. In May, global investment banks said they would increase the use of blockchain in finance.

JPMorgan, on the other hand, offers several crypto-related investments, has its own JPM coin, and has a lounge on the Metaverse. JP Morgan analysts are also more optimistic about bitcoin and cryptocurrencies than bank CEOs.

In May, JPMorgan analyst Nikolaos Panigerzoglu revealed that the bank had turned real estate into digital assets, along with hedge funds, as the preferred alternative asset class.

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