Positive news, dynamic groups, and a move towards Decentralised Finance. This seems to be a catalyst that motivates the rallies recently witnessed in Zilliqa (ZIL), Terra (LUNA), and VeChain (VET).
During the time of the bull market, adverse news is quickly consumed. Owing to this there is limited collateral damage that takes place. As a result, even though the XRP price has been dumped hostilely because of the ambiguity surrounding the results of the lawsuit of the US Securities & Exchange Commission. However, several other altcoins are unaffected by this.
Booming Rally For ZIL, LUNA, And VET
The strong rally of Bitcoin is taking a respite. Many altcoins are withdrawn from the overhead levels of resistance and attempting to restart their uptrend.
Keep reading to find out more about some of them.
ZIL– ZIL has increased exponentially in 2020. The booming DeFi is a key reason for this. ZilSwap was launched on 5th October with noncustodial staking introduction on 14th October gave a huge boost.
Till now, they have staked approximately 30.49% outstanding supply along with a low eligibility margin of only 10 ZIL that has attracted more participation from the token-holders. This altcoin rallied off from an intraday low of $0.0296388 on 12th December to a $0.0996 intraday high on 27th December, having a 236% rally within 2 weeks.
LUNA– This token by Terra has hugely profited from the bigger adoption by existing products and anticipated ones. The Chai app garnered more than 2.8M transactions within November with $90M payment volumes. They had a $0.45 intraday low on 24th December to $0.70 intraday high today with 55% profit.
VET– VeChain token made their rally from $0.011724 intraday low on 23rd December to $0.02120375 intraday high today with 80% gain. The bears will probably defend the level of $0.02210 aggressively while they act as a strict resistance for the next few months.