- Terra’s network has exceeded $21 billion in TVL.
- LUNA has surpassed ETH-killer in growth and gains.
- Terra’s UST became the first algo stablecoin with a market cap exceeding $10 billion.
- Analysts believe Terra will continue its current upward move.
The increase in Terra network’s total value locks has led to a bullish case for LUNA’s price actions. With that, crypto analysts remain bullish as far as the coin is concerned, predicting continued rallies.
Keep in mind that LUNA has recorded impressive price movements since the month started. Furthermore, experts believe 2022 is a bullish year for the crypto mark. Terra might be enjoying the party.
LUNA Hits New ATH as TVL Skyrockets
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LUNA saw its price crossing the $103 mark early on Monday. With that, the crypto touched new ATHs as Terra’s total value locked saw explosive movements. TVL resembles the asset’s market cap, and the surge in total value confirms Terra’s colossal growth.
Terra has its total value locked, standing beyond $21 billion. Moreover, the figure has been climbing steadily since 2021 mid-December. With that, the LUNA surpassed DOT and other Ethereum competitors, improving Terra’s on-chain activity.
Meanwhile, Terra’s algo stablecoin USD saw its market cap surpassing $10 billion. It is the first decentralized stablecoin to attain such levels. Besides the surged market capitalization, the burn policy implementation catalyzed the rally in LUNA price.
Terraform Labs’ founder Do Kwon trusts that Terra is web3’s, core anchor. He said data privacy and decentralized stablecoins might be the necessary pillars of the upcoming digital economy. Meanwhile, analysts retain an optimistic picture of the crypto.
A pseudonymous crypto analyst @dkcrypto13 has examined LUNA price movements. He thinks that the assets may breakout regardless of macro falls. Also, the YouTuber and crypto expert @TheCryptoLark recently posted Terra on Twitter. The analyst maintains a bullish stance and reveals his LUNA holdings.
Terra will likely witness a remarkable rally in the up-and-coming crypto market bullish run. That is when LUNA maintains its current momentum. Also, the surged on-chain activity will boost the alt’s price.
What are your opinions on Terra blockchain and LUNA’s impressive price actions? You can share your views in the reply section below.
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