Whereas the broader crypto market continues to be fighting the bearish traits from final week, LUNA, the native cryptocurrency of the Terra ecosystem, is presently one of many best-performing belongings available in the market.
Based on knowledge by CoinGecko, LUNA has gained over 50% throughout the final seven days, and regardless of the weekend crash, hitting a brand new all-time excessive (ATH) of $77.7 earlier at the moment.
LUNA’s bullish development throughout the previous few weeks has been spectacular and astonishing, because the coin was one of many worst-hit cryptocurrencies throughout the huge Might sell-off.
LUNA Has Gained 2700% since Might Crash
LUNA went downhill following the Might 2021 crash, with its worth slashing about 81% of its worth on the warmth of the sell-off, knocking TerraUST (UST) off the peg.
Nonetheless, the coin made fairly a dramatic comeback, recording highs after highs and outperforming the second-largest cryptocurrency, ETH, by 10x. Since Might, LUNA has recorded a 2700% enhance in worth, with ETH having solely a 270% enhance for the reason that crash.
LUNA has additionally surpassed a number of the trending cash available in the market, together with the meme-inspired cash, DOGE and Shiba Inu.
On the time of writing, LUNA is the tenth largest cryptocurrency, buying and selling at $67 with a market cap of $26.56 billion.
Terra’s TVL Hits $13.9 Billion
Terra, LUNA’s native blockchain ecosystem was additionally not unnoticed within the bullish development. The main decentralized finance (DeFi) blockchain community has additionally lately achieved a brand new milestone.
As per a current tweet by Wu Blockchain, Terra’s complete worth locked (TVL) has lately hit $13.9 billion, a weekly progress of 43%.
Based on DeFi Llama, TVL on the Terra continues to hit new highs, surpassing Avalanche and Solana to rank third. Prior to now 7d, Terra-TVL has grown 42.9%. Terra Token Luna additionally shortly recovered the decline and set a brand new excessive. pic.twitter.com/wEW4ZnhfWG
— Wu Blockchain (@WuBlockchain) December 5, 2021
With this newest growth, Terra is presently the third-largest DeFi blockchain, simply after Ethereum and Binance Good Chain (BSC). The community managed to surpass Solana and Avalanche on the listing within the final two days, with a progress fee of 42.9% throughout the previous 7 days.
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