Ethereum competitor luna crypto coin crossed over 11.956% this year – stepped into the top 10 list of crypto assets by market cap.
Ethereum’s competitor is creating a blend after achieving enormous gains this year. Luckily enlisted in the top 10 ten crypto assets by market cap.
Terra (LUNA) is an edict anchored multi-coin network used for online business payments and decentralized finance (Defi service)
The terra network holds the currency, LUNA, that supports the price of stable coins. Also, It is a currency that can be used for payments, investments, and savings.
Ethereum Competitor LUNA Crypto Coin Market Value Statistic:
In 2021, the opening of the LUNA crypto coin was about $0.65 and reached over $78.37 On Dec.4.
It showed gains of up to 11, 956%. This year, the competitor Ethereum has taken over the same crypto Dogecoin(DOGE), with tremendous performance. Currently standing at the 10 largest crypto asset with a market capitalization of $25.70 billion.
The coin’s escalation in value follows its parabolic development in total locked-in value (TVL) on the chain. The blockchain news space DefiLIama exhibited Terra’s TVL rose from $53.15 million at the beginning of the year, which peaked presently at $13.32 billion, marking a staggering surge of approximately 25,000% in less than 12 months time period.
However, when it comes to TVL, Terra is the third-largest blockchain after Ethereum with $169.47 Billion and Smart Biannace chain $16.88 billion.
Moreover, an anonymous crypto trader and host at Coinburea said that the main reason behind the recent peak of the Terra platform is the demand for stable coins. Without any doubt, these stable coins performed the role of catalyst for uplifting the value of crypto assets and its latest protocol upgrade.
“These dynamics will send LUNA to the moon.”
Currently, the trading volume of Terra is 12.29% in 24 hours.
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