Terra (LUNA), Quant (QNT) Pull Up As Avalanche (AVAX) Nosedives
This week’s negative trend has favored Terra (LUNA) and Quant (QNT). The cryptocurrency markets are still in the red in the last few days, as prices continue their downward trend.
The good news is that some cryptos began to move in the right direction. Both Terra (LUNA) and Quant (QNT) were among the top gainers Tuesday, registering significant gains.
LUNA is now up 14.87% and trading at $57.30, making it the major stock with the highest gains. Its price has fluctuated between $49.51 and $57.40 in the last 24 hours.
The crypto is now ranked 9th among the most valuable cryptocurrencies on the market. The token’s market capitalization has increased by 14.44% to $22,139,669,470.
According to analysts, LUNA is expected to reach a market value of $300 by the end of the forecast year.
In contrast, Quant (QNT), which had its lowest price of $105.25 and its highest price of 128.98 on Monday, is up 12.96% Wednesday to $118.27, a gain of 12.96% over the previous day.
QNT has fluctuated between a low of $107.77 and a high of $119.52 during the last 24 hours.
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LUNA total market cap at $23.55 billion in the daily chart | Source: TradingView.com
QNT is presently the 63rd most valuable cryptocurrency in market capitalization out of the top 100 most valuable cryptocurrencies.
Recent market data predicts that the token price will rise to $515 by December 2030, which is higher than the projections made by traders at the time of publication.
Avalanche (AVAX) Suffers Massive Losses
Meanwhile, a consequence of the bearish market and negative news, including the conflict between Russia and Ukraine, have made investors jittery, resulting in a number of cryptocurrency tokens unable to sustain their value.
Avalanche (AVAX) is an example of a coin that has suffered a significant loss due to unfavorable market conditions.
On Tuesday, the price of AVAX plummeted to $75.00, representing a loss of more than 4%, making it the most seriously damaged token on the market.
AVAX is now trading at $79.43, marking a significant increase in value compared to its previous trading price on Tuesday.
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The cryptocurrency has gained 12.87% in the last 24 hours and is now trading between $70.13 and $79.45, according to CoinMarketCap.
With a market capitalization of $19,503,725,52 and a fully diluted market capitalization of $31,429,838,359,
Avalanche (AVAX) has seen gains of 13.14% and 13.08%, respectively, since January of this year.
AVAX on Tuesday claimed the tenth most valuable cryptocurrency spot in terms of market capitalization.
According to Wallet Investor’s algorithmic forecast, the price of AVAX might even climb to $184.97 within a year and $659.55 within five years.
Featured image from CoinQuora, chart from TradingView.com