Terra’s Mirror Protocol ($MIR) Increases by 40% after Two days
$MIR had a great rebound
After Vladimir Putin launched military attacks against Ukraine, Mirror System, a decentralized finance (DeFi) protocol built on the Terra blockchain, saw one of the worst crashes in financial history this week.
MIR, the native token of Mirror Protocol, fell to $0.993 on February 24, its lowest level to date, after a selloff in the larger crypto market. However, the price quickly rebounded, reaching as high as $1.41 two days later, a gain of more than 40% from MIR’s record low.
MIR’s positive retracement followed similar recoveries elsewhere in the crypto market, much like the plunge. However, MIR/USD gains looked to be higher than some of the most widely valued digital assets, such as Bitcoin (BTC) and Ether (ETH).
Bitcoin, for example, has rebounded 17% since bottoming out at $34,500 on February 24. Ether, on the other hand, gained a little more than 25% in the same time frame after bouncing from $2,300.
Terra (LUNA), on the other hand, increased by more than 50% within the same time period.
Anchor Protocol (ANC), a Terra blockchain-backed token, rose more than 45% from its February 24 low of $2.64 to its highest position to date, just shy of $4.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Hazel
CoinCu News
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Terra’s Mirror Protocol ($MIR) Increases by 40% after Two days
$MIR had a great rebound
After Vladimir Putin launched military attacks against Ukraine, Mirror System, a decentralized finance (DeFi) protocol built on the Terra blockchain, saw one of the worst crashes in financial history this week.
MIR, the native token of Mirror Protocol, fell to $0.993 on February 24, its lowest level to date, after a selloff in the larger crypto market. However, the price quickly rebounded, reaching as high as $1.41 two days later, a gain of more than 40% from MIR’s record low.
MIR’s positive retracement followed similar recoveries elsewhere in the crypto market, much like the plunge. However, MIR/USD gains looked to be higher than some of the most widely valued digital assets, such as Bitcoin (BTC) and Ether (ETH).
Bitcoin, for example, has rebounded 17% since bottoming out at $34,500 on February 24. Ether, on the other hand, gained a little more than 25% in the same time frame after bouncing from $2,300.
Terra (LUNA), on the other hand, increased by more than 50% within the same time period.
Anchor Protocol (ANC), a Terra blockchain-backed token, rose more than 45% from its February 24 low of $2.64 to its highest position to date, just shy of $4.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
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