Terra’s LUNA token is now ranked 11th in terms of market capitalization, making it one of the week’s fastest-growing coins
Terra’s token is now ranked 11th in terms of market capitalization, making it one of the week’s fastest-growing coins. One of several things that influence the pricing of LUNA is the organizers’ interest.
LUNA had a very productive week
LUNA has been gradually rising since the end of November, with daily gains of 14%, making up for all of November’s losses and marking a new all-time high (ATH) with no stop sign in just three days.
For the previous week, the coin has been the most bullish coin in the top 100 on the market, trading at $ 69.8.
For the time being, it’s unclear whether Terra is natural, as trading volume matched the climb to a 2-month high.
However, transaction figures as a percentage of overall revenue remained average.
That increase could be normal, given that approximately 7.5 million LUNAs were burned in the last week, indicating that demand for USTs is increasing.
A 25% rise in TVL in the Anchor Protocol, which also raises Terra’s TVL to 40%, could be a potential boost. Terra has officially eclipsed Avalanche for fourth place in the TVL top list, with 13.5 billion US dollars.
The sharp price increase is the result of a lot of social engagement. Terra’s performance has been steadily improving, and the Anyswap network now allows UST cross-chain transfers between Terra and Fantom.
In any event, investors must remain cautious because the market is fearful and the volatility is increasing.