In brief

  • The crypto market has cooled off a bit a most tokens edge on the red zone.
  • Meanwhile. Avalanche, Terra, and ThorChain have posted some of the biggest losses on average.

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Several major tokens from the top 100 suffered losses amid a pullback in the crypto market.

While most of the top cryptocurrencies dipped by just a couple of percent over the past 24 hours, LUNA, the native token of algorithmic stablecoin platform Terra, saw losses of over 10% today.

At press time, the token had begun to recover, currently trading at $26.70, down 7.1% on the day, according to crypto metrics platform CoinGecko.

T
LUNA
+3.96%$0.1524
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Created with Highcharts 10.3.312:00PM2:00PM4:00PM6:00PM8:00PM10:00PMApr 82:00AM4:00AM6:00AM8:00AM$0.146$0.148$0.15$0.152$0.154$0.156$0.158$0.145$0.1475$0.1525$0.155$0.1575
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LUNA price
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The price of RUNE, the native token of decentralized liquidity network ThorChain, is similarly down by about 4%, hovering around $9.50.

Cosmos' coin ATOM also slipped down to $18.33 today, down 2% in the past 24 hours.

Meanwhile, it looks like Avalanche’s (AVAX) price rally, which started last week, has finally come to a halt.

AVAX price

While the price of AVAX has more than doubled over the past week, the token dropped by over 14% today, trading at around $43.17—down from its highs of $50 yesterday.

On August 18, Avalanche’s bull run gained momentum after its developers announced a new $180 million mining incentive program for blue-chip decentralized finance (DeFi) projects.

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Avalanche (AVAX) is an Ethereum competitor on the rise. Image: Shutterstock

Avalanche up 113% Since Launch of $180 Million Incentive Program

The price of AVAX, the native token of scalability-focused blockchain platform Avalanche, has more than doubled since its developers launched a $180 million decentralized finance (DeFi) incentive program last week. DeFi is a growing niche in crypto, which seeks to offer many of the same financial services as banks and brokers, such as lending and borrowing, but without using a centralized entity. At the time of writing, AVAX was trading at around $49, up roughly 2.5% on the day, according to cry...

NewsMarkets
2 min read
Liam Frost

Popular DeFi platforms Aave and Curve Finance were among the first ones to join Avalanche’s new initiative, giving a boost to its token along the way.

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