The cryptocurrency market experienced a bloodbath yesterday after Russia invaded Ukraine in an all-out war. The stock market around the world crashed like a deck of cards, wiping out all the profits made last year. However, the cryptocurrency market has seen a rally today as most coins, including Bitcoin, are temporarily trading green. Additionally, the best performing cryptocurrencies today during this comeback are Terra (LUNA) and Anchor Protocol (ANC).
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Terra is up 30% today and hit an all-day high of $67 after falling to $50 yesterday. Similarly, the ANC jumped 27% in 24 hours to hit $3.55. The token hit $2.68 before making a comeback.
Both Terra and Luna excelled in Crypto Bubbles in the weekly highs segment, outperforming all other cryptocurrencies. Investors who bought the dip yesterday are now enjoying good profits as both tokens have soared.
In addition to Terra and ANC, CRO Coin is up +15% and Maker (MKR) is up 19% on 24-hour trading.
However, no financial expert predicted a bull run and today’s peak could be short-lived as the war footing is growing. 2022 started off on the wrong foot with a market drop in January and February. The market was trading mostly sideways and did not report exceptional growth.
Even Bitcoin billionaire Mike Novogratz predicted that people will realize that being a cryptocurrency investor in 2022 is hard work. “This is going to be a year where people will realize that being an investor is hard work,” he said. tweeted last month.
Earth (LUNA) Forecast
Analysts are bullish on Earth, claiming it has the potential to take on Ethereum in the long run. Terra has always been a bankable cryptocurrency for day-traders and long-term holders. It has remained within the ‘top 10’ of cryptocurrencies for over a year despite facing several market crashes.
Dutch cryptocurrency millionaire Etienne vantKruys last week predicted that Terra will cross the $500 mark in the next five years. “My idea is that Luna will make $500 in five years. That’s the horizon we’re playing with,” said vantKruys.