Terraform Lab’s indigenous cryptocurrency LUNA, on the other hand, is plainly avoiding the larger crypto market. As Bitcoin (BTC) and Ethereum (ETH) are trading sideways, LUNA has set a new all-time high, increasing by 10% and crossing the $82 Price mark.
Terra LUNA’s weekly earnings are stunning at 31% as it enters the top 10 crypto-list, unseating Polkadot’s DOT. On the technical indicators, LUNA has provided a solid breakthrough over $80 levels, indicating that we may be on the verge of a possible uptrend in the next few days.
The Terraform Labs infrastructure is also quickly being a popular location for most DeFi protocols. Ran Neuner, a prominent crypto analyst and CNBC Crypto Trader, stated that ASTROPORT pools, an automatic market maker, had sealed in $1 billion on Terra LUNA.
The increase of Tier-1 AMM on LUNA will entice more gamers to join the platform. Furthermore, this $1 billion in LUNA-related locked will be held for a year. This will be a watershed moment for Terraform Labs.
LUNA/USD 1 DAY PRICE CHART: SOURCE – COINMARKETCAP.COM
Terra Switches Binance Smart Chain in Terms of Total Value Locked (TVL)
In terms of DeFi total value locked, the Terraform Labs platform has passed another big milestone (TVL). Terra finishes in second place with $17.2 billion in TVL after Ethereum switched the renowned binance Smart Chain (BSC).
Thanks to ASTROPORT’s latest declaration of a $1 billion commitment. It is significant to remember that Terra serves considerably fewer protocols than the Binance Smart Chain (BSC).
While Terra currently has 13 active protocols, BSC currently has over 222 active protocols. Nevertheless, a whopping 140+ procedures are set to emerge on Terra the following year, in 2022.
Terra’s LUNA has indeed been identified as one of the game-changing cryptocurrencies for 2021. LUNA’s value has risen 88x year too far, with an astonishing over 8700 percent yield in a single year, from fewer than $1 at the start of 2021. LUNA is likely to be one of the top five cryptos in 2022.