The cryptocurrency market has cooled off on Wednesday as the fresh gains from Monday and Tuesday have dissipated. Most crypto tokens are either recording minor gains or posting slight corrections. Notably, this is the first time the market has attained a sense of calm this year.
Terra’s native coin LUNA, which bled heavily last month, is now back above $52 after a brief slide towards the close of yesterday’s trading session. The token had posted an intra-day high of $54 early on Tuesday but has been unable to reclaim this level since then.
Here is a roundup of headlines around Terra in the first week of February:
Real Vision’s Raoul Pal bets on Terra to compete with Ethereum
Real Vision co-founder and CEO Raoul Pal has picked Terra as one of the two altcoins he considers ready to compete with Ethereum, the largest DeFi ecosystem. The other altcoin he plumped for is Polkadot (DOT).
In an interview with Altcoin Daily, Pal explained that a reasonable number of investors he considers important in the industry are pretty bullish on Terra, thus his prediction. This includes Real Vision’s founding partner and GMI analyst Remi Tetot. Tetot, who took the nickname ‘El Lunatico,’ has been a vocal Terra supporter.
“I have said it many times, I am a very strong believer in Terra ecosystem,” he wrote in a recent Twitter post.
Pal keenly noted that Ethereum is still king and is thus betting on its long-term recovery past the current market correction.
The former Goldman Sachs…
