Altcoins Back in The Green: SOL and LUNA Leading the Comeback

• The cryptocurrency market has painted a picture of green into the new week in what is seemingly a trend for February
• This is the third week that the market has started strongly – last week, the market embarked on an uptrend on Tuesday

Bitcoin and Ethereum recover

Bitcoin, whose price plunged to a 24-hour low of $38,112 over the weekend, has bounced back and is currently trading at $39,025 against the dollar. Despite seeing a positive 2.01% 24-hour change, the coin is still down over 7.40% in the last seven days.

Ethereum’s native coin has similarly bounced from a dip to a weekend low of $2,585.95 posted during yesterday’s trading session. Though Ether is still trading below $2,800 ($2,715) – it has seen approximately 3.33% of gains in the last 24 hours as per CoinMarketCap data.

Here’s a look at other altcoin systems:

Cardano (ADA)

Cardano’s ADA suffered a huge blow ahead of the weekend, with its price dropping below the crucial $1.00 level. The coin briefly mounted a challenge above this level on Saturday but suffered rejection at $1.10. ADA is now swinging around $0.965, having recorded a 2.68% upturn in the last 24 hours.  

Terra (LUNA)

LUNA suffered a drastic slide from $50.70 to $47.54 during Sunday’s trading session. It has, however, turned the tables over and is among the crypto-assets with the biggest green candles in the top 10 chart. The native token on Terra has managed to reclaim $51.50 after seeing 8.37% gains in the last 24 hours.

Solana (SOL)

SOL is among those leading the 24-hr gains chart, as of press time, alongside LUNA among the top 10 cryptocurrencies. The token crashed to a multi-week low of $86 on Sunday but has since recovered to $94.20 on the back of an 5.50% price upswing in the last 24 hours.

Avalanche (AVAX)

The price of Avalanche’s utility token AVAX fell to $76.74 yesterday but has since bounced back above $80. A 1.45% gain in the last 24 hours has pushed its price to $80.87 as of writing.

Polygon (MATIC)

The picture is unchanged outside the top largest ten crypto-assets by market capital. MATIC has equally recovered following a 7.11% crash to $1.50 during yesterday’s session. The token has gained 3.75% in the last 24 hours to $1.58 at press time.