CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Crypto Market Wrap: LUNA2 defies altcoin prices, continues to rise

By Monte Stewart


Image of the word crypto and gold bars on graph
LUNA2 defied altcoin prices Monday by continuing to rise -- a month after appearing to be dead in the water. - Photo: Getty Images

LUNA2 defied altcoin price trends Monday and continued to surge – a month after appearing to be dead in the water.

All top altcoins – with the exception of those that are stablecoins pegged to the US dollar – and most others fell Monday along with bitcoin as the cryptocurrency market waged its ongoing battle with macroeconomic factors and a general sell-off that has been prevalent since January.

What is your sentiment on SOL/USD?

Vote to see Traders sentiment!


Double-digit gain

According to CoinMarketCap data. LUNA2 enjoyed a double-digit percentage gain Monday. The altcoin’s price  has been exploding for more than a week as the crypto sector faces severe disruption as several companies battle financial problems.

At the end of May, LUNA2 appeared to be dead in the water almost right after being conceived from the collapses of the original luna and its related terraUSD stablecoin, which became depegged from the US dollar.


New question being asked

While bitcoin (BTC) and leading altcoin prices rode a roller coaster at times, LUNA2 has soared as investors appear eager to capitalize on its low price.

A month ago, the question about LUNA2 appeared to be: How low can it go? But now, the opposite appears to be the case and investors are wondering how high it can rise seemingly without stable backing.


67,572.55 Price
-0.190% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 21:00 (UTC)
Spread 106.00


0.14 Price
-2.130% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.0012872


0.61 Price
+1.950% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 0.01168


179.94 Price
-1.860% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 21:00 (UTC)
Spread 2.2652


Solend tried to beach whale

Speaking of things seemingly dead in the water, Solend tried last week to take over a whale – i.e. a large investor – to avoid taking a large financial hit. The investor appeared to be in danger of defaulting on a $108m US dollar coin (USDC) loan and tether (USDT).

The loan was collateralized with SOL, which was in danger of being liquidated if its price fell to $22.30, Solend said.



Celsius Network coin well down

Meanwhile, another troubled cryptocurrency, the Celsius Network coin (CEL) was well down. CEL has risen and fallen sharply since the network froze withdrawals as it deals with financial difficulties tied in part to the original luna’s collapse.

According to Fortune, investment firm Goldman Sachs is looking to raise $2bn (£1.63) from its investors to buy Celsius Network.

Markets in this article

LUNA2.0 to USD
0.4424 USD
-0.0172 -3.840%
Solana / USD
179.9410 USD
-3.3951 -1.860%

Related topics

Rate this article

Related reading

The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided in this article is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents and has not been prepared in accordance with the legal requirements designed to promote investment research independence. While the information in this communication, or on which this communication is based, has been obtained from sources that believes to be reliable and accurate, it has not undergone independent verification. No representation or warranty, whether expressed or implied, is made as to the accuracy or completeness of any information obtained from third parties. If you rely on the information on this page, then you do so entirely at your own risk.

Still looking for a broker you can trust?

Join the 630,000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading