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The gains keep coming as multiple crypto projects test new price records, fueled by gains in Bitcoin seen earlier in the month. With Bitcoin dominance still prevalent throughout the market, a sudden rise in BTC price followed by sideways trading can often lead to new investments made in other coins.
El Hippo (HIPP) sets new all-time high
El Hippo is inches away from breaking a new price record, with sentiment at a massive high following a listing on Bitget and now, a $54,000 airdrop rewards scheme to celebrate. Users can earn free HIPP simply by depositing and/or trading HIPP on Bitget. All of the details are listed in the project’s latest newsletter.
El HIppo also gives out $700 every two weeks to its users on Zealy, further boosting the project’s appeal online.
Price is now at $0.0000000126, with the all-time high being $0.0000000127. With support for the project building online and a period of sideways consolidation on the charts signaling an impending breakout, it’s possible that price is about to make a major upward move.
Of course, as a small-cap meme coin, anything is possible. Such coins have historically been responsible for some of the biggest runs in crypto history, but they’re also, by nature, highly volatile, and users should be aware that HIPP is a high-risk project as well as one with potentially high rewards.
Terra Luna Classic (LUNC) at yearly high following project revamp
LUNC is also having an excellent week, as the coin price has now jumped to the highest point in over a year. Price is now at $0.000224, shooting straight up and surpassing the previous high by almost 40%.
LUNC is up 99% in the last 7 days, doubling in price thanks to the positive news coverage of new plans to revitalize the collapsed Terra ecosystem which fell in May of last year. Binance has launched a new perpetuals contract listing and issued a massive USTC token burn, causing renewed interest in the project, and Terra developers have announced plans to breathe new life into the project by potentially launching a new stablecoin to underpin the ecosystem backed by BTC.
Interest is high in the project with many new investors now flocking to stake their claim to some LUNC and USTC tokens, causing a new bull run that has surprised many analysts. There’s no telling how high LUNC could go, although, like with anything, investors would do well to exercise caution when taking a look at the project.
The surge of activity in the market is leading many to wonder whether we’re seeing a the beginning of a new price rally for the altcoin market. While it’s too soon to say whether it’s truly altcoin season or not yet, it’s certainly a promising glimpse of the coming year for the cryptocurrency industry.
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide
