Unbelievable! Crypto Terra (LUNA) Price Breaks New ATH
JAKARTA – Crypto Terra (LUNA) showed an outstanding performance on Wednesday, December 22 yesterday. The reason is, the price of LUNA skyrocketed and managed to record its new all-time high price (ATH).
With the rally, Ethereum's competitor directly passed Avalanche (AVAX), Polkadot (DOT), and Dogecoin (DOGE), LUNA now occupies the ninth position of the largest crypto in the world by market capitalization.
According to The Daily Hodl, new data from DeFi Llama, an analytics platform focused on decentralized finance (DeFi) and non-fungible tokens (NFT), shows that Terra has surpassed Binance Smart Chain (BSC) to become the second-largest blockchain by total value locked (TVL).
According to DeFi Llama, Terra's total locked-in value (TVL) was $19.32 billion, a staggering nearly 36,250 percent increase from January 1's TVL of just $53.15 million.
SEE ALSO:
For information, Terra is a blockchain protocol that uses stablecoins pegged to fiat to support a price-stable global payment system. According to its whitepaper, Terra combines price stability and widespread adoption of fiat currencies with the resilience of Bitcoin (BTC) censorship and offers fast and affordable settlements.
First developed in January 2018, Terra successfully launched its main net in April 2019. In September 2021, it offers stable coins pegged to the US dollar, South Korean won, Mongolian tugrik, and the International Monetary Fund's list of designated Special Withdrawal Rights currencies, to launch additional options.
Terra's native token, LUNA, is used to stabilize the price of the protocol's stablecoin. LUNA holders can also submit and vote on governance proposals, granting them functionality as governance tokens.
At the time of writing, the LUNA crypto price was trading at the level of Rp1,254,566, down 9.5 percent from ATH which was recorded yesterday at the price of Rp1,397,829. Data from Coingecko reveals that LUNA has skyrocketed 42.6 percent in the past week.