Terra Is Attracting Large Share Of DeFi Market

2022-3-4 18:42

LUNA’s 50% increase in the last week has made it one of crypto’s most popular coins. With $34 billion worth, Terra (LUNA) currently occupies a seventh place on Coinmarketcap, and even more, headlines are making themselves known with this rise to fame. Not only did the token shoot up past Solana ($32B), but also Cardano ($31B), who sit eighth & ninth respectively now that their rankings have changed due to LUNA’s hipe.

LUNA is the token that fuels the DeFi ecosystem. However, the real product is stablecoins, like UST, which pegs its value to dollars. Also protects against volatility in cryptocurrency prices by keeping your wealth protected from fluctuations.

Related Reading | Terra (LUNA) Outperforms Popular Cryptos Ether, Dogecoin In The Past 24 Hours

The UST and LUNA markets are in a tug of war. The two stablecoins compete with one another for investors’ attention, but they also affect each other’s prices as well. When the USD-based Terra gains more traction than its crypto counterpart, there will likely be an increase on both sides due to their unique algorithmic mechanisms, which motivate market agents (arbitrage opportunities)

There are many stablecoins, but UST is the only one with decentralization. The market cap of $13 billion makes it the fourth-largest stablecoin. All other top hitters are centralized. Tether with a $79 billion market cap, followed by Circles’ USDC$53 billion and BUSD ($18 billion)

The latest data from DefiLlama shows that 11.2% of all funds locked up in DeFi space belong to Terra nodes alone. A rather impressive number considering its $23 billion worth compared well with other platforms like Solana or Fantom, which have less than half as much funding. Ethereum still rules supreme, though; they claim 55 percent dominance when they include their total invested.

Terra (LUNA) Price Update

LUNA has been one of the more exciting coins to watch over recent months. However, since January, its price action became divorced from what most investors would expect in a highly correlated market like cryptocurrency trading.

LUNA currently trading 0.6% down at $91.6 | Source: LUNA/USD Chart on Tradingview.com

LUNA is trading at $92.55, with 24-hour highs near $96.31 and lows of $89.21. With a $34.5 billion market cap, the coin holds 7th rank in the crypto market. However, if entirely diluted, the market value may reach $72 billion, which would be an incredible investment return for anyone who is currently investing. 

Related Reading | Market Update: Crypto Market Rebounds As Tech firms Boycott Russia

LUNA is one of the most resilient coins in this crypto bear market, and according to Matt Hougan from Bitwise Asset Management, it’s on an “absolutely spectacular run” so far. It fell less than others during recent volatility while recovering faster too.

The price of LUNA is skyrocketing. According to some analysts, it could hit $98 by the end of this month.

Featured image from Flickr Chart from Tradingview.com

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Terra KRW (KRT) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.000912 (-100%)

luna terra seventh coinmarketcap currently billion worth

luna terra → Результатов: 126


Terra (LUNA) Price Prediction 2024 – 2025 -2030 | LUNA Price Forecast

What is Terra? Terra is the new LUNA 2.0 launched by the Terra founder Do Kwon. After an incredible demise and unprecedented crash of the original Terra Luna project that went from a $60 billion protocol to almost zero, Kwonman (popular name for this conman) decided to do another round of plundering crypto noobs by […] The post Terra (LUNA) Price Prediction 2024 – 2025 -2030 | LUNA Price Forecast appeared first on CaptainAltcoin.

2023-12-25 23:50


Terra (LUNA) Price Prediction 2023 – 2025 -2030 | LUNA Price Forecast

What is Terra? Terra is the new LUNA 2.0 launched by the Terra founder Do Kwon. After an incredible demise and unprecedented crash of the original Terra Luna project that went from a $60 billion protocol to almost zero, Kwonman (popular name for this conman) decided to do another round of plundering crypto noobs by […] The post Terra (LUNA) Price Prediction 2023 – 2025 -2030 | LUNA Price Forecast appeared first on CaptainAltcoin.

2022-12-22 11:58


Цена токена LUNA подскочила на 200%

Токен LUNA новой сети Terra 2. 0 резко вырос в цене, показав прирост на 127% в течение часа: с $2 до $4,55. Криптовалюта обновила максимум с 8 июня. Монета была выпущена в конце мая взамен оригинальной криптовалюты Terra (LUNA), которая была переименована в Terra Classic (LUNC).

2022-9-10 18:05


Terra Classic (LUNC) vs. Luna 2.0 (LUNA)

A  few weeks ago, Terra (UST-USD), the third-largest stablecoin in the crypto market, was delisted from the US dollar and crashed along with its reserve asset, Luna (LUNA1-USD). This is after experiencing a massive sell-off of over 99% of its value, resulting in Investors losing all their funds and life savings as in the case […] The post Terra Classic (LUNC) vs. Luna 2.0 (LUNA) appeared first on NullTX.

2022-6-1 23:09


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План по восстановлению Luna столкнется с трудностями: отчет Huobi

После отвязки Luna и краха стейблкоина UST на прошлой неделе соучредитель Terra До Квон представил предложение с его видением «пути вперед» - плана по возрождения блокчейна Terra. Предложение предусматривает форкинг цепи Terra в новую цепь без алгоритмического стейблкоина, при этом старая цепь будет называться Terra Classic (токен Luna Classic - LUNC), а новая цепь Terra (токен Luna - LUNA).

2022-5-27 16:28


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Terra (LUNA) could have hit bottom: you can buy $LUNA token here

Most crypto investors are optimistic that Terra’s woes are almost coming to an end and that its coin the Terra (LUNA) is poised for recovery in the coming days. The rate at which LUNA was losing its value has reduced from losing over 100% per day to only about 40% per day; a sign that […] The post Terra (LUNA) could have hit bottom: you can buy $LUNA token here appeared first on Invezz.

2022-5-16 19:09


Цена Terra LUNA обновила исторический максимум благодаря инвестициям в биткоин

Монета Terra (LUNA) достигла нового исторического максимума после того, как выросла более чем на 140% по сравнению с минимумом 2022 года. Что происходит? Рост LUNA связан с беспрецедентными инвестициями компании-разработчика криптовалюты в биткоин.

2022-3-30 18:11