Terra’s LUNA Notches New Record High Above $90 Even As ‘Shorts’ Keep Piling

Posted on by American Coins & Gold

Terra’s LUNA Notches New Record High Above Even As ‘Shorts’ Keep Piling
There is an old saying on Wall Street: Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria.LUNA, the native token of the smart contract blockchain Terra, has nearly doubled to record highs above $90 in December, extending a four-month winning trend and decoupling from the weak trend in other top coins.Such stellar rallies often translate into euphoria – a situation characterized by risky directional bets and excess bullish leverage and usually observed at market tops. However, LUNA’s market shows no such signs, with derivatives data signaling investor caution.“People appear to be shorting LUNA…