LUNA beats all the time and has the 9 most important business awards! The DeFi total volume is compatible with BSC after Ethereum.

Luna, still a symbol of Terra Public Works, has been making quite a bit of money lately. Luna's price rose 11% today to a new all-time high of US $ 81.87, according to data from Tradingview. It then edged down and rebounded to $ 77.63, up 5.3% in the 24 hours leading up to the close.

According to data from Coinmarketcap, Luna has grown 31.55% in the past 7 days, reaching retail sales of $ 29.1 billion, and its 10th and 11th public targets, Avalanche (AVAX) and Polkadot (Dot ). ).

The Terra ecosystem is growing rapidly.

Since the start of this year, the Terra ecosystem has started to grow, the decentralized investment platform Mirror and the Anchor fixed loan rate project have been successful. It grew to reach $ 17.46 billion, which pushed Binance Smart Chain (BSC) to the 2nd place. largest public channel.

Currently, the top five smartphones with a full closing value are: Ethereum $ 149 billion, Terra $ 17.46 billion, Binance Smart Chain $ 16.54 billion, Avalanche $ 11.67 billion and Solana $ 11.61. billion.

Exchange rates rise due to deflationary pressures

Previous reports have shown that the Terra protocol, unlike other public channels, comes with UST certified in the United States (TerraUSD), so each application in the chain will have stable market potential, but the demand for Terra stable currency will only exceed demand for Moon. increase directly.

Since Luna is a Terra Chain PoS Race Token Promise, Luna's price directly affects the chain's security, so Luna's cost is higher, he can carry more Terra chain stuff. .

According to a recent report from the "Cointelegraph", the Terra ecosystem was able to absorb volatility and burn Luna to maintain a stable value. If the UST price is less than $ 1 to reduce the price to $ 1, the contract will transfer the UST to LUNA to take over that price.

Terra completed the Columbus-5 mainnet upgrade in September to provide greater scalability and cross-chain, and the Terra ecosystem with Chiron Partners, an investment firm in Hong Kong, announced an investment of $ 50. million dollars in 8th here. This month, investments in LUNA are expected to face higher deflationary pressures, resulting in higher costs.

According to data from Coinmarketcap, the market value of UST has risen from $ 3 billion in November to $ 9 billion today, making it the 21st largest cryptocurrency by market cap, after completion of the Columbus-5 mainline upgrade in late November, according to data from TerraAnalytics. . In September, more than 110 million Lunas have been burnt so far.