The Terra blockchain’s largest DeFi platform, Anchor Protocol (ANC), looks to be moving in opposition to the market tide. Its ANC token has increased by more than 13% despite market crash.
The global cryptocurrency market has decreased by approximately 6.5% in the last 24 hours. The total market capitalization stands at $1.68 trillion. Bitcoin (BTC), the largest cryptocurrency, has lost almost 8% of its value since then.
ANC TVL surges by 2% in past seven days
The Anchor Protocol token has gained the most in the last 24 hours. At the time of writing, the ANC token was trading at an average price of $2.17. Meanwhile, the total locked value (TVL) of Anchor Protocol has climbed by 2% in the last 7 days. The 24-hour volume of ANC has increased by more than 300% to $208 million.
ANC TVL is valued at 16.97 billion dollars. However, Terra’s UST stablecoin accounts for the majority of this value. Total deposits in the Anchor protocol surpassed the $14 billion mark for the first time. Anchor offers very low-risk rewards on UST token deposits.
Anchor has the highest annual yield among any Defi platform at 18%. In times of market stress, this makes it particularly appealing for returns. Because ANC is Anchor’s governance token, it benefits from any platform inflows.
LFG gets $1.5 billion worth of Bitcoin
Recently, the Luna Foundation Guard (LFG) has stated that they have gotten another $1.5 billion in Bitcoin to accomplish its mission. The LFG received $1 billion worth of BTC via an on-the-counter (OTC) swap for UST. This transaction was backed by Genesis, a digital currency prime broker. While Three Arrows Capital (3AC) assisted in the purchase of another $500 million worth of Bitcoin.
For the time being, the LFG is concentrating on substantial Bitcoin accumulation. The organization’s recent addition of 37,863 BTC represents its second $1 billion accumulation transaction. As a result, the foundation is now among the top 10 BTC holders in the world. The wallet address of Luna Foundation Guard shows that it presently has 42,530 Bitcoins.
