fxs_header_sponsor_anchor

Terra dominates Ethereum-killers as TVL skyrockets to $21 billion

  • Terra's LUNA has exceeded $21.06 billion in total value locked on its network.
  • Terra has surpassed Ethereum-killers in gains and growth in its total value locked.
  • Terra's UST is the first algorithmic stablecoin to exceed $10 billion in market capitalization.
  • Analysts have projected further growth in Terra price, a continuation of the current uptrend.

The spike in total value locked on the Terra network has fueled a bullish narrative for the token's price. Analysts have a bullish outlook on Terra, predicting a continuation of the rally. 

Terra hits another all-time high as TVL explodes

Terra price crossed $103 earlier today, hitting a new all-time high as the token's total value locked (TVL) exploded. TVL is similar to market capitalization, and the rise in total value locked indicates Terra's massive growth. 

Terra's total value locked is currently above $21 billion, and it has continued to climb steadily since mid-December 2021. The altcoin (LUNA) has surpassed Polkadot and other Ethereum-killers, boosting its on-chain activity. 

Terra's logarithmic stablecoin UST has surpassed $10 billion in market capitalization. This is the first stablecoin of its kind (decentralized) to achieve this feat. 

Alongside the spike in market cap, the implementation of the burn policy triggered a rally in Terra price. 

Do Kwon, the founder of Terraform labs, believes that Terra is the core anchor of web3. 

According to Kwon, decentralized stablecoins and data privacy could become two primary pillars of the new digital economy. 

@dkcrypto13, a pseudonymous analyst, has evaluated the Terra price trend and predicted that the token could break out despite macro collapses. 

@TheCryptoLark, a cryptocurrency analyst and YouTuber, recently tweeted about Terra. The analyst has a bullish outlook and revealed his Terra holdings. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.