Ethereum Challenger Terra (LUNA) hits new all-time highs shortly after the altcoin hit large Market capitalization has reached a decisive milestone.
New data from DeFi Llama, an analytics platform that focuses on decentralized finance (DeFi) and non-fungible tokens (NFTs) focused, show that Terra Binance Smart has overtaken Chain by the second largest Blockchain after the locked total.
Terra is a network of several fiat-linked stablecoins used for e-commerce payments and DeFi services, with its reserve currency LUNA underpinning the price of the stablecoins.
According to DeFi Llama, the Total Locked Out Value (TVL) in Terra is $ 19.32 billion, a staggering nearly 36,250% increase from the Jan. 1 TVL of just $ 53.15 million.
Source: DeFi Lama
The TVL of a 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.
Terra’s rise to second place comes just two weeks after overtaking Layer 1 competitors Solana (SOL) and Avalanche (AVAX) in third place on the TVL rankings.
According to DeFi Lama, Binance Smart Chain is currently third on the list with a total value of $ 16.69 billion, followed by Avalanche ($ 12.64 billion) and Solana ($ 11.82 billion) . Ethereum (ETH) is still at the top with $ 155.1 billion in TVL.
The explosion in Terras TVL follows LUNA’s eruption to new all-time highs. At the time of writing, LUNA is trading hands at record highs of $ 91.76, up over 11% in the past 24 hours and more than 60% from its 7-day low of $ 57.05.
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Source: Crypto News Deutsch