Meanwhile, the S&P 500 was roughly flat Monday, versus a 6% rise in BTC over the past 24 hours.
Over the past six days, the Luna Foundation Guard’s bitcoin wallet address purchased more than 27,000 BTC worth roughly $1.3 billion.
There appears to be a synergy between bitcoin and the Terra ecosystem, according to Lucas Outumuro, head of research at IntoTheBlock, a crypto data company.
At this stage, an increase in buy volume versus sell volume could determine if the price rally has staying power.
Sector classifications are provided via the Digital Asset Classification Standard , developed by CoinDesk Indices to provide a reliable, comprehensive, and standardized classification system for digital assets.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period.