Crypto On March 29: Market Continues To Boom, Terra LUNA Becomes Top Gainer

The cryptocurrency market continued to gain momentum Tuesday. Terra LUNA became the top mover of the market. The global market was up 1.69% at $2.15 trillion, as of 4.42 a.m. ET, CoinMarketCap data showed.

Terra LUNA gained 8.83% to $103.17.

As per WazirX's daily analysis, the upward movement came as Terra LUNA, the decentralized financial payment blockchain network, continued to accumulate Bitcoin as its BTC reserves hit $1 billion. Terra has planned to purchase $10 billion worth of Bitcoin to back its UST stablecoin.

Bitcoin also continued to maintain a strong position above the $47K level. The top coin was up 1.33% at $47,542.

"Bulls continued to push the prices closer to $50K, a sentimental market level as the BTC Fear & Greed index touched 60 for the first time in four months," the WazirX trade desk told International Business Times.

Ethereum, too, gained 2.69% to $3407. All other top 10 tokens traded higher. Meme crypto Shiba Inu too surged but Dogecoin dipped.

Crypto funds have also witnessed the largest inflows since mid-December, with US$193 million flowing into crypto funds in the last seven days.

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