Terra’s LUNA Hits New All-Time High of $81, Flips Binance Smart Chain In DeFi TVL

By Bhushan Akolkar
December 20, 2021 Updated December 20, 2021
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Well, Terraform Lab’s native cryptocurrency LUNA is clearly dodging the broader crypto market. While heavyweights like Bitcoin (BTC) and Ethereum (ETH) are moving sideways, LUNA has touched a new all-time high gaining another 10% and moving past $81.

The weekly gains for Terra LUNA stand at a staggering 31% as it makes way into the top ten crypto-list unsettling Polkadot’s DOT. On the technical charts, LUNA has given a strong breakout above $80 levels which suggests that we could be heading for potential upsides in the coming days.

The Terraform Labs platform is also becoming a strong destination for most of the DeFi protocols. Popular crypto analyst and CNBC Crypto Trader Ran Neuner said that Automated market maker, ASTROPORT pools has locked $1 billion on Terra LUNA.

The growth of this Tier-1 AMM on LUNA will encourage more players to join the platform. Besides, this $1 billion in LUNA-related locked will stay for a year. This will be a big pivot point for Terraform Labs.

Terra Flips Binance Smart Chain in Total Value Locked (TVL)

The Terraform Labs platform has hit another major milestone in terms of the DeFi total value locked (TVL) on the platform. With a $17.2 billion in TVL, Terra comes second after Ethereum flipping the popular binance Smart Chain (BSC).

Thanks to the recent announcement coming from ASTROPORT with $1 billion locked. The important thing to note is that Terra’s LUNA hosts far fewer protocols as compared to the Binance Smart Chain (BSC).

While Terra has 13 active protocols as of now, BSC hosts more than 222 active protocols. However, a staggering 140+ protocols are scheduled to arrive on Terra the next year in 2022.

Terra’s LUNA has been one of the game-changing altcoins for 2021. From less than under $1 at the beginning of 2021, LUNA’s price has surged 88x year-to-date with a staggering 8700% returns in one single year. Probably, we can see LUNA among the top-five cryptos in 2022.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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