Crypto On March 15: Top Coins Plunge But Experts Optimistic Of Bitcoin, Terra Luna's Surge

Despite a slump in the overall cryptocurrency market, industry insiders have shown optimism in the growth of top coins including Bitcoin and Terra LUNA in the near future.

The global market cap was down 1.50% at $1.71 trillion as of 4.01 a.m. ET, CoinMarketCap data showed.

Bitcoin dipped 1.64% to $38,436. Barring a slight uptick in USD Coin and Terra LUNA, all other top 10 tokens traded lower. Meme cryptos too plunged.

Terra LUNA surged 0.87% to $91.61.

As per WazirX's daily analysis, Terra LUNA's market cap surged by $3 billion in just under the last 24 hours.

The Indian exchange also noted that Ethereum whales are making significant investment in wrapped LUNA, a token designed to track LUNA’s value.

"LUNA is trading near its all time high levels and its only a matter of time before we see LUNA breaking that level. The next resistance for LUNA is expected at the $107 level," the WazirX research team told International Business Times.

The WazirX team also seemed confident about growth in Bitcoin and Ethereum.

"We could see some upward movement in the prices as the EU parliament votes against the ban on Bitcoin and Ethereum," the Indian exchange said.

Meanwhile, CoinDCX said, "EU’s regulatory steps could herald in a new era of greater sustainability in the crypto sector globally."

Skybridge Capital founder Anthony Scaramucci has predicted that Bitcoin will be present in over a billion wallets by the end of 2025 noting that the token's users will reach 2.5 to 3 billion in the next decade.

The crypto market is extremely volatile and experts recommend investors not make decisions based on the sudden shift in prices.