- Terra Protocol’s DeFi value reaches its all-time high.
A huge buzz has been created by Terra protocol as its crypto-asset LUNA witnessed a 45% surge in price over the last week. The digital currency reached its all-time high, making LUNA the 9th largest cryptocurrency in terms of market valuation. Apart from the surge, the blockchain has also surpassed Binance Smart Chain (BSC) in terms of TVL in DeFi.
In terms of DeFi TVL, BSC was the second-largest blockchain network. But this week Terra Protocol has acquired that position by surpassing BSC by a few billion dollars.
The primary reason for most of the swelling value is LUNA, reaching its all-time high price. As of today, the biggest trading pair of LUNA is tether (USDT) and then followed by BTC. A strong relationship of LUNA with BUSD, BNB, USD, and KRW has been shown by Global pairs.
Even though Terra Protocol in DeFi has increased in great amounts, there is still a long way for it to go to catch up with Ethereum TVL in DeFi.
Disclaimer: The article should not be considered as any financial advice. It is advisable to conduct thorough research before investing.
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