Ethereum (ETH) competitor Terra (LUNA) is increasing both in terms of the price of its native assets and the total value of the blocked network (TVL).
LUNA, the crypto asset in 9th place Market capitalization, is up more than 123% in the last 30 days and is trading at $ 97.36 at the time of writing. The project’s market capitalization has surged to over $ 35 billion as a result of the price surge.
Terra is a network of several stablecoins linked to Fiat. It is used for ecommerce payments and DeFi-Services (decentralized finance) used, with LUNA underpinning the price of the stablecoins. LUNA can also be used for investment and savings.
Binance has Terras of their own this week Stablecoin TerraUSD (UST) listed and Kraken recently listed the LUNA token.
LUNA’s price spike is also due to TVL reaching $ 20 billion in the Terra ecosystem, according to crypto-insights platform DeFi Llama.
The TVL one Blockchain– or DeFi protocol represents the total capital that is held in its smart contracts. TVL is calculated by multiplying the amount of collateral locked on the network by the current value of the assets.
LUNA’s TVL is ahead of Binance Smart Chain ($ 16.9 billion) and Avalanche ($ 12.68 billion). Ethereum (ETH) remains the largest blockchain in terms of TVL ($ 157.28 billion).
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Source: Crypto News Deutsch