The cryptocurrency market returned strong from the Easter holidays with Terra LUNA leading major coins with an 18.5% rebound to trade at US$91.43, on Tuesday morning Asia time.
- Terra reached its all-time high of US$119 in early April.
- Terra’s dollar-pegged algorithmic stablecoin UST maintained steady growth in market cap to US$17.7 billion, a billion away from the 12th largest cryptocurrency Dogecoin.
- Dogecoin investors are hunting a spot on the crypto top 10 ahead of April 20 “Doge Day.”
- With a market cap of US$18.6 billion, the world-leading memecoin was trading at US$.014.03 at press time.
- Elsewhere, the Web 3.0 application STEPN (GMT), which incorporates gamification of non-fungible tokens (NFTs), rose over 30% in a day to reach a new high of US$3.36.
- Bitcoin has recovered past US$41,000 as the World Bank announced a US$170 billion relief package while chopping its 2022 global growth forecast to 3.2% from 4.1%.
See related article: Why are stablecoins overwhelmingly backed by the US dollar?