Social media analytics firm LunarCrush's LUNR LUNR/USD social token is up 44% in the last 24 hours, even as top cryptocurrencies like Bitcoin BTC/USD, Ethereum ETH/USD take a hit.
What Happened: At the time of writing, LUNR was trading at $0.092, while BTC and ETH were both up 1%.
The rise in LUNR can be attributed to LunarCrush’s announcement of a feature for content creators.
LunarCrush has set out to change the way creators monetize content and businesses broaden their audience engagement. “Get paid to be a creator. LunarCrush is revolutionizing how creators monetize and businesses expand their reach. For brands and businesses, get precise performance results. As a creator, your content’s success directly boosts your earnings,” an update on the company’s website stated.
LUNR saw $32K in volume from ALEXLabBTC, a Bitcoin DeFi platform. “$32k in volume on @ALEXLabBTC! Love to see it from the @stacks community," LUNR token's official X account posted.
See More: Dogecoin HODLERs Are Beating Shiba Inu With 57% Landing In Profits, IntoTheBlock Data Reveals
Why It Matters: The social token's trading volume is up 119.08% in the last 24 hours reaching $511,678, as per data from CoinMarketCap.
LUNR's rise can also be attributed to speculation and hype that it will be listed on certain cryptocurrency exchanges soon.
Meanwhile, Bitcoin is down from $49,000 last week to around $41,200 in the last 9 days.
Photo by Fernando Cortes on Shutterstock
Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
