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Cryptocurrency LUNA Reaches New All-Time High and Beats Binance Blockchain by TVL

Cryptocurrency LUNA Reaches New All-Time High and Beats Binance Blockchain by TVL

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Answer Cryptocurrency LUNA Reaches New All-Time High and Beats Binance Blockchain by TVL

On December 16, we published on Bitcoin Arabs the price forecast for the digital currency “LUNA” after it was listed on the “Kraken” trading platform and indicated that it is on its way to achieving a new record at $80.

This is what happened in the last 24 hours, as the currency rose and reached a new peak at $81.

While the weekly gains of the digital currency “LUNA” amounted to a staggering 31% as the coin actually entered the top ten in the top ten cryptocurrency list and upset Polkadot and took it out of the rankings to finish the latter at number 11.

Read:After approving the ban, the government of Uzbekistan plans to partially allow cryptocurrencies

On the technical charts, LUNA gave a strong breakout above $80 levels indicating that we may head towards another potential upside in the coming days.

Terraform Labs has also become a powerful destination for most DeFi protocols.

Automated market maker ASTROPORT has raised $1 billion on Terra LUNA, said Ran Nonner, a popular crypto analyst and analyst at CNBC.

This growth will encourage LUNA to gain more players to join the platform.

Besides, this $1 billion will remain in and tied to LUNA for a year.

This will be a major focal point in the project’s history.

Terra beats Binance in terms of total locked value (TVL):

Terraform Labs has achieved another major milestone in terms of total value locked onto its decentralized finance protocol.

As this value reached $17.2 billion, “Terra” became second only to Ethereum and after beating the Binance Blockchain.

The closing value increased thanks to the recent announcement by “ASTROPORT” that entered the amount of 1 billion dollars.

The important thing to note is that Terra hosts much fewer protocols compared to the Binance blockchain.

Read:Find out how many BNB coins were burned this quarter

While Terra has 13 active protocols to date, the Binance BSC network hosts over 222 active protocols.

However, more than 140 protocols are scheduled to arrive on Terra next year 2022.

Terra’s LUNA was one of the game-changing altcoins of 2021.

From less than $1 at the start of 2021, the coin has gone up 88 times year-to-date with amazing returns of 8,700% in one year.

Most likely, we can see LUNA among the top five cryptocurrencies in 2022 especially if it maintains its current format.

Read also:

Decentralized trading platform “UNISWAP” is preparing itself to work on the “POLYGON” blockchain

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