Terra (Luna) Blockchain’s largest DeFi platform Anchor Protocol (ANC)in an environment where the cryptocurrency market is experiencing a huge decline altcoin started raising its price.
During the market drop, the altcoin managed to gain more than 13%.
The total cryptocurrency market has lost 5% in the last 24 hours. At the time of this writing, the total value of the cryptocurrency market stands at $1.67 trillion.
However, the Anchor Protocol (ANC) token became one of the cryptocurrencies that gained the most value in the last 24 hours. At the time of this writing, ANC is trading at $2.05 after rising by about 11% in the last 24 hours.
In addition, Anchor Protocol’s total locked value (TVL) has also increased by 2% in the past week. ANC’s 24-hour trading volume also rose 300% to $208 million.
Related News: Terra Makes Another Bitcoin Purchase: Biggest Ever!
Altcoin Rise Is Driven By UST Stablecoin
ANC’s TVL is currently valued at $16.97 billion, but the vast majority of this value is owned by Terra. TOP made possible thanks to the stablecoin.
Anchor Protocol is the leader among DeFi platforms with a yield rate of 18% it claims to provide. Thanks to the fund flows to the platform, the platform’s management token, ANC, is also on the rise.
Recently, LFG has raised $1.5 billion to meet its goal of $10 billion in BTC reserves. bitcoin he bought. The company made over-the-counter acquisitions in two transactions for $1 billion and $500 million.
*Not investment advice.
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