- While the broader crypto market consolidates a market capitalization of over $800 billion, some altcoins make a strong move.
- Terra Classic (LUNC) jumped nearly 16% on Monday and is one of the best performing altcoins for the month of December.
Just before the end of this year 2022, the broader crypto market continues to hover around $800 billion market cap. While Bitcoin continues to hold above $16,800 levels, some other altcoins have posted strong moves of late.
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 enables developers to quickly search, index, use, and publish data from other public blockchains. Two years since its inception, The Graph continues to experience strong network growth.
Over the past year, the total number of developers on The Graph Network has skyrocketed by 145% to 38,000. In the same time period, average GRT consultation fees also increased by 1,191% to 354,000. Similarly, the total number of subgraphs and proxies for apps increased 122% to 641 on the decentralized network.
Since The Graph Network launched two years ago, it has onboarded a total of more than 200 indexers, 10,000 delegators, and 2,500 curators.
On Monday, December 26, GRT, The Graph’s native cryptocurrency jumped 10% past $0.060. Currently, the GRT price is trading at $0.05981.
This altcoin has a strong show throughout the month of December 2022 driven by strong whale activity. On Monday, December 26, the LTC price rallied more than 10% in a new attempt to break above the $72.50 resistance.
Since the 2022 low of less than $45, Litecoin (LTC) price has gained more than 72% so far and is currently trading at a crucial crossover. If LTC breaks the $72.50 resistance, it can also reach the $78, $84, and $100 targets.
#Litecoin he shows strength, and will probably continue to show strength.
I am interested in the $69 range for some scalp trades.
Also, mainly look for an option around $66.75 for longs, then at $78 and $84 below. pic.twitter.com/cVB0F3NTLh
—Michael van de Poppe (@CryptoMichNL) December 26, 2022
Over the past week, Litecoin (LTC) has witnessed more than $500 million worth of inflows as the market jumped from $4.55 billion seven days ago to $5.05 billion. We have only four days left to say goodbye to 2022 and, well, we cannot rule out the possibility of a strong market rally.
Internet Computer (ICP)
Internet Computer (ICP) is another altcoin that has been on investors’ radar recently and has made good gains of over 10% over the past week. At press time, ICP, the native crypto, is trading 1% higher at $3.92.
The Internet Computer blockchain project caters to one of the most prosperous industries in the Metaverse. It is also the metaverse project with the highest market capitalization on the market. The ICP has outperformed some of the biggest cryptometaverse projects, like The Sandbox and Axie Infinity.
top 10 #Metaverse Coins by market capitalization
👉 https://t.co/Jb9xRHfJSy@TheSandboxGame $ SAND @AxieInfinity $AXS @decentraland $ MANA @engine $ENJ @RenderToken $RNDR $MC @RealFlokiInu $FLOKI @Treasure_DAO $MAGIC $ICP $ILV pic.twitter.com/tKy88QGA4I
— Ben GCrypto (@GCryptoBen) December 21, 2022
Metaverse Projects is likely to gain more momentum as we get closer to 2023. Therefore, the Internet Computer Project (ICP) could also remain on investors’ radar for the next year or so and we may see more pricing action for ICP.
Classic Terra (LUNCH)
On Monday, December 26, the price of Terra Classic (LUNC) rose more than 10% after rising 25% over the past week. The recent uptick in LUNC comes when Terra Classic core developers Edward Kim and Tobias “Zaradar” Anderson formed a new “Joint L1 Task Force”. In addition, Kim also shared the group’s first proposal to work on the Layer-1 Terra Classic blockchain developments.
LUNC price is currently trading down 15.27% at $0.0001796. Another major reason behind the LUNC price rally is the massive burning of validators and other Terra Classic projects. In recent times, the total LUNC burned has exceeded more than 36.5 billion tokens. The Terra Classic community burned 80 million LUNCs in December of this month alone.