MIR/USDT - Terra tokens rally
Mirror Protocol's native token, MIR, dropped to $0.993 on Feb. 24, its worst level to date amid a selloff across the broader crypto market. But a sharp rebound ensued, taking the price to as high as $1.41 two days later, up more than 40% when measured from MIR's record low.
Just like the drop, MIR's upside retracement came in the wake of similar recoveries elsewhere in the crypto market. But interestingly, MIR/USD returns appeared larger than some of the highly valued digital assets, including Bitcoin (BTC) and Ether (ETH). Notably, Bitcoin rallied up to 17% after bottoming out locally on Feb. 24, below $34,500. In contrast, Ether's gains in the same period came out to be a little over 25% after bouncing from $2,300. On the other hand, Terra (LUNA), whose protocol hosts the Mirror Protocol's synthetic assets platform, rebounded by more than 50% in the same period. Interestingly, another Terra blockchain-backed token, Anchor Protocol (ANC), jumped more than 45% from its Feb. 24 low of $2.64, reaching its best level to date, just shy of $4.
Just like the drop, MIR's upside retracement came in the wake of similar recoveries elsewhere in the crypto market. But interestingly, MIR/USD returns appeared larger than some of the highly valued digital assets, including Bitcoin (BTC) and Ether (ETH). Notably, Bitcoin rallied up to 17% after bottoming out locally on Feb. 24, below $34,500. In contrast, Ether's gains in the same period came out to be a little over 25% after bouncing from $2,300. On the other hand, Terra (LUNA), whose protocol hosts the Mirror Protocol's synthetic assets platform, rebounded by more than 50% in the same period. Interestingly, another Terra blockchain-backed token, Anchor Protocol (ANC), jumped more than 45% from its Feb. 24 low of $2.64, reaching its best level to date, just shy of $4.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.