- While the broader crypto market consolidates over $800 billion market cap, some altcoins make a strong move.
- Terra Classic (LUNC) jumped nearly 16% on Monday and is one of the top-performing altcoins for the month of December.
Just ahead of the end of this year 2022, the broader crypto market continues to hover at around $800 billion market cap. While Bitcoin continues to stay over $16,800 levels, a few other altcoins have registered strong moves in recent times.
Altcoins like The Graph, Litecoin, Internet Computer and Terra Classic have outperformed the market recently. Let’s take a look at each of them individually.
Blockchain network The Graph allows developers to quickly search, index, use and publish the data from other public blockchains. Two years since its inception, The Graph continues to see strong network growth.
Over the last year, the total number of developers for The Graph Network skyrocketed up by 145% to 38,000. In the same timeframe, the average GRT query fees also surged by 1,191% to 354,000. Similarly, total subgraphs and proxies for the applications have jumped by 122% to 641 on the decentralized network.
Since the launch of The Graph Network two years back, it has onboarded a total of over 200 indexers, 10,000 delegators, and 2,500 curators.
On Monday, December 26, GRT, the native cryptocurrency of The Graph jumped by 10% moving past $0.060. Currently, the price of GRT is trading at $0.05981.
This altcoin has a strong show throughout the entire month of December 2022 spurred by strong whale activity. On Monday, December 26, the LTC price surged more than 10% in a fresh attempt to break past the resistance of $72.50.
Since the 2022-low of under $45, the Litecoin (LTC) price has gained more than 72% so far and is currently trading at a crucial junction. If LTC breaks the resistance of $72.50, it can subsequently hit the targets of $78, $84 and $100 as well.
#Litecoin shows strength, and probably will continue to show strength.
I’m interested in the $69 range for some scalp trades.
Further, primarily, looking for an option around $66.75 for longs, then targeting $78 and $84 next. pic.twitter.com/cVB0F3NTLh
— Michaël van de Poppe (@CryptoMichNL) December 26, 2022
Over the last week, Litecoin (LTC) witnessed over $500 million worth of inflows as the market jumped from $4.55 billion seven days ago to $5.05 billion. We have just four days left to bid adieu to 2022 and well, we cannot rule out the possibility of a strong market rally going ahead.
Internet Computer (ICP)
Internet Computer (ICP) is yet another altcoin that has been on investors’ radar recently and has made good gains of over 10% over the last week. As of press time, ICP the native crypto is trading 1% up at $3.92.
The Internet Computer blockchain project caters to one of the most thriving industries of Metaverse. It is also the metaverse project with the highest market cap in the market. The ICP has outperformed some of the biggest crypto metaverse projects such as The Sandbox and Axie Infinity.
Top 10 #Metaverse Coins by Market Capitalization
👉 https://t.co/Jb9xRHfJSy@TheSandboxGame $SAND @AxieInfinity $AXS @decentraland $MANA @enjin $ENJ @RenderToken $RNDR $MC @RealFlokiInu $FLOKI @Treasure_DAO $MAGIC $ICP $ILV pic.twitter.com/tKy88QGA4I
— Ben GCrypto (@GCryptoBen) December 21, 2022
Metaverse Projects are likely to gather more steam as we head into 2023. Thus, Internet Computer (ICP) project might continue to stay on investors’ radar for the next year as well and we can see more price action for ICP.
Terra Classic (LUNC)
On Monday, December 26, the price of Terra Classic (LUNC) surged by more than 10% after 25% gains already over the last week. The recent rally in LUNC comes as Terra Classic core developers Edward Kim and Tobias “Zaradar” Anderson formed a new group “Joint L1 Task Force”. Besides, Kim also shared the first proposal by the group to work on Layer-1 Terra Classic blockchain developments.
Currently, the LUNC price is trading 15.27% up at $0.0001796. Another major reason behind the LUNC price rally is the massive burn by validators and other Terra Classic projects. In recent times, the total LUNC burned has surpassed more than 36.5 billion tokens. The Terra Classic community burnt 80 million LUNC alone in December this month.