The cryptocurrency market has regained some lost ground after yesterday’s rout. At $1.78 trillion, its total cap has risen by 6.6% in the past 24 hours. This follows the relative mildness of sanctions against Russia for its military intervention in Ukraine, with markets semi-reassured that the situation won’t be too contagious for the rest of the world. And assuming that things don’t descend further in the coming hours and days, there’s a possibility that the cryptocurrency market may rebound further. In the event of this happening, here’s our pick of the 3cryptocurrency to buy for a price boom this weekend.
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1. Lucky Block (LBLOCK)
LBLOCK is up by a substantial 31% in the past 24 hours, recovering from a big loss yesterday. At $0.00591299, it’s 35% down in the past week, but 11% up in the past 14 days. It has also risen by over 1,000% since becoming tradable on January 27.
Users can enter Lucky Block lottery draws by purchasing tickets using LBLOCK. Ticket holders have the chance to win 70% of each lottery’s jackpot fund, while 10% of each fund will be shared equally among all LBLOCK holders. This is regardless of whether they formally enter a draw.
While Lucky Block isn’t due to hold its first draw until March 25th, it’s already generating a significant buzz for such a new altcoin. In fact, Lucky Block recently proclaimed it the “fastest-growing cryptocurrency in history,” based on the fact that it has reached a $1 billion market cap within three weeks.
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$LBlock is the fastest-growing #cryptocurrency in history 🔥
That’s right, we hit 1 billion market cap faster than #ADA, #BNB, #ETH, #SHIB and all the other #cryptocurrencies!
Thank you, #LuckyBlockArmy! 🚀#BSCGem #crypto #LuckyBlockHits1Billion #HODL #ToTheMoon pic.twitter.com/7bl7DFqwMk
— Lucky Block 🤞 (@luckyblockcoin) February 21, 2022
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2. Bitcoin (BTC)
BTC is up by 9% today, at $38,716. This means it’s also 4% in the past week and by 11% in the past fortnight.
BTC is pretty volatile at the moment. Its relative strength index (in purple above) has gone from under 30 to 60 to under 30 again and back up to 60 in a few short days. Its 30-day moving average (in red) has also sunk below its 200-day average (in blue), indicating a downtrend. However, normally, 30-day averages don’t stay below 200-day averages for too long, suggesting that BTC could rally soon.
We’re almost tired of repeating this now, but bitcoin remains a relatively safe bet within the cryptocurrency market, if only because the market doesn’t rally with BTC rallying first. This is what happened in 2017 and it’s also what happened in 2020 and 2021. So if you’re expecting the market to enjoy a big jump anytime soon, you may as well allocate some of your portfolio to BTC.
And make no mistake, plenty of analysts think BTC is primed for big things once the macroeconomic and political situation stabilises. Research firm FSInsight released an investor note at the start of this month predicting that it could end the year at $200,000. Likewise, Bloomberg analyst Mike McGlone has long predicted a level of $100,000 for BTC.
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3. Terra (LUNA)
LUNA is up by an impressive 25% in the past 24 hours, reaching $65.31. It’s also up by 30% in the past week and by 25% in the last 14 days, as well as by 4% in the past month.
LUNA’s indicators suggest that a breakout may have begun. Its RSI has climbed to 70, revealing strong momentum. At the same time, its 30-day average has formed a golden cross with its 200-day. This could signal that it’s rising to new support and resistance levels.
LUNA has been rallying largely because Terra conducted a private sale of its UST stablecoin. Raising $1 billion, this sale will help create a reserve for Terra denominated in bitcoin, allowing it to support the value of UST. This has instilled market confidence in UST and Terra more generally, with LUNA rising as a result.
1/ The long awaited [REDACTED] 💎3 is here!
📣 The Luna Foundation Guard (LFG) has closed a $1 billion private token sale to establish a decentralized $UST Forex Reserve denominated in $BTC! 📣
🧵👇
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) February 22, 2022
Terra is now one of the biggest DeFi ecosystems in the market, accounting for $18.3 billion in total value locked. It’s arguable that such a size gives it strong network effects that will help it grow even further. And with the Terra protocol burning LUNA every time new UST is minted, LUNA could rise in price much higher in the near future.
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- Source: https://medium.com/@amp70468/3-cryptocurrency-to-buy-for-price-boom-this-weekend-february-2022-week-4-883a5b73105e?source=rss——cryptocurrency-5
