Zilliqa, Terra (LUNA), and VeChain Rally Off Good News and Strong Fundamentals

Photo: Coin Telegraph

(Coin Telegraph) - During a bull market, negative news is quickly digested, and the collateral damage is often limited.

Therefore, even as XRP price dumped aggressively due to the uncertainty,regarding the outcome of the United States Securities and Exchange Commission's lawsuit, other altcoins have largely been unaffected.

Crypto market data daily view. Source: Coin360 

Moreover, as Bitcoin’s strong rally takes a breather, several altcoins have broken out of their overhead resistance levels and are attempting to resume their uptrend. Let’s look at a few tokens that have risen sharply in the past few days and analyze their charts to ascertain whether the rally could extend further.

ZIL/USD

Zilliqa's Zilling (ZIL) token has risen sharply in 2020. Part of the rally could be attributed to the decentralized finance boom that dominated a large portion of the year.

During the coronavirus pandemic, most people have stayed indoors and spent their time on social media. Thus, the timing of Zilliqa’s SocialPay launch could not have been better. The platform launched in May, and it rewards users for sharing Zilliqa’s updates and announcements on Twitter.

LUNA/USD

The Terra protocol’s Luna token seems to have benefitted from greater adoption of its existing products and the proposed launch of new ones. Its Chai payments app witnessed over 2.8 million transactions in November, with payment volumes crossing $90 million.

Terra is also attempting to address the product referral marketing category that mainly benefits the direct referrer. The protocol plans to officially launch BuzLink, a marketing tool, in February 2021, which will reward the entire referral chain after the sale is done.

VET/USD

The coronavirus pandemic has made people and businesses even more aware of the power of digital technology. VeChain developed the E-HCert App in collaboration with the Mediterranean Hospital of Cyprus to store COVID-19 test records.

After its successful implementation, Aretaeio Hospital has also joined the VeChain ecosystem to integrate its lab testing services, which will make the data readily accessible to patients to use as required.

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