As LUNA crossed the $ 100 mark, DeFi on Earth was valued at $ 21 billion.

LUNA, the main symbol of the Terra direct payment network, raised more than $ 100 from the European mark on Friday, triggering a "Christmas rebound" in the cryptocurrency market.

After LUNA fell 10% to $ 85 on Thursday, previous traders pushed LUNA back to its previous high of $ 96 in Asian trading. Later, the Binance cryptocurrency exchange announced that it would list UST, a stable currency outside the Terra Network, which supports LUNA above $ 100. The price reached protection at this level and was down 5 cents of press time.

According to data from DeFi Llama monitoring devices, Terra's Decentralized Funding Protocol (DeFi) Total Fixed Cost (TVL) exceeds $ 21 billion, making it the second largest DeFi ecosystem behind Ethereum. That number is up nearly $ 3 billion from Wednesday's 18 billion.

Over $ 9 billion is tied to Anchor, a financially stable app. TerraSwap, an exchange built on Terra smart contracts, reached over $ 2 billion, up 81% from the previous week.

The DeFi system relies more on smart contracts than average to provide financial services like loans, mortgages, and business services.

The figure comes from 13 contracts, each with an average value of more than $ 1.6 billion. By comparison, the third largest DeFi ecosystem, Binance Smart Chain, was worth $ 73 million per protocol, and the system was valued at $ 17 billion at 232 protocols.

Some believe that apps like Anchor increase Terra's attractiveness to investors.

Marvin Steinberg, founder of investment firm Steinberg Invest, said in a Telegram message to CoinDesk: The job was rewarding. "

LUNA's price increase was part of a multi-month expansion in November, including changes to the token mechanism, such as a decrease in token burning capacity and an increase in DeFi app performance. for Terra. This supports LUNA as the ninth largest cryptocurrency with a market value of US $ 36 billion.