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Terra & MATIC Ahead 30% In Past 7 Days As Market Sell-Off Erases.
2021-12-07 | Robin Williams
LUNA price chart - Source: CoinMarketCap
The cryptocurrency market, led by Bitcoin, witnessed a massive loss, with most tokens plummeting to multi-month lows as a result of panic selling. With the exception of LUNA and Polygon (MATIC), which are up 9.52 percent and 33 percent, correspondingly, for the month, practically all tokens in the top 100 have lost their seven-day and thus monthly gains.
Matic Price Chart - Source: CoinMarketCap
According to CoinMarketCap, Terra (LUNA) is currently among the top ten largest cryptocurrencies by market capitalization, as investors took advantage of the "flash collapse" to stock up on LUNA tokens. The Terran economy's economic expansion continues to assist LUNA. Millions of Luna tokens were burnt in the months that followed a Terra protocol update to keep UST linked to Terra's fiat value, reducing the coin's supply and increasing its value.
