- Some alternative tokens present massive movements as the overall cryptocurrency market consolidates beyond the $800B market cap.
- LUNC has been among the top-performing alts for December, gaining approximately 16% yesterday.
The overall crypto market capitalization continues to sway around the $800 billion mark as we are about to end 2022. While Bitcoin wavered beyond the $16.8K mark, some alternative coins have recorded impressive moves recently.
Alts such as Terra Classic, Internet Computer, Litecoin, and the Graph have outshined the market lately. So let us check what they had for crypto fans.
The Graph is a blockchain network that enables developers to search swiftly, index, utilize, and publish records from public blockchains. The network has witnessed impressive growth since its launch two years ago.
The Graph network saw developers increasing to 38,000 over the past year, reflecting a 145% increase. Also, the timeframe saw the GRT query fees increase by 1,191%, hitting 354,000. Furthermore, the application’s total proxies and subgraphs have soared to 641 (+122%) on the decentralized platform.
The Graph has onboarded more than 200 indexers, 250 curators, and 10,000 delegators since its launch. Meanwhile, the blockchain’s native coin, GRP, gained around 10% yesterday (December 26) to overcome the $0.060 mark. While writing these lines, GRT traded at $0.05981.
Litecoin recorded lucrative strides throughout December amidst heightened whale activity. As a result, the alternative token gained over 10% yesterday as it executed the first attempt to conquer the $72.50 resistance.
While writing this blog, the alt hovered at a critical junction, following an over 72% climb from 2022 lows below $45. Breakouts past the $72.50 hurdle can push toward the $78 and $84 targets. Continued push will propel the alt to $100.
Litecoin recorded inflows worth more than $500 million within the previous week. The market soared to $5.05 billion from $4.55 billion over the last seven days. Analysts believe the market can rally in the upcoming sessions as we are about to take 2022 down into history.
Internet Computer (ICP)
Internet Computer is another alt that has attracted investor attention lately, following a lucrative 10% increase over the past week. While publishing this news, the token changed hands at $3.92, indicating a 1% increase.
The ICP blockchain project serves the Metaverse. Moreover, it’s the dominant metaverse project as far as market cap is concerned. The asset has outshined leading Metaverse cryptos, including Axie infinity and Sandbox.
Metaverse projects seem prepared to flourish into 2023. Thus, ICP could remain on investor radar in the upcoming years, translating to increased price action.
Terra Classic (LUNC)
LUNC gained about 10% yesterday, continuing its 25% upside journey of the previous seven days. The latest Terra Classic rally emerged as the project’s primary developers, Tobias Anderson and Edward Kim, created a new group (Joint L1 Task Force). Also, Kim revealed the initial proposal from the group to develop layer1 LUNC blockchain developments.
LUNC traded at $0.0001796 during this writing, following a 15.28% price increase. Also, the enormous token burn by Terra Classic projects and validators contributed to the LUNC rally. The total Terra Classic burned has exceeded 36.5B tokens lately. The LUNC community burnt around 80M assets this month.
Stay tuned for the latest developments in the crypto space.