Terra Blockchain’s own altcoin Terra (Luna)According to Coin Market Cap data, with the latest increase in its price during the day, it has become the eighth largest cryptocurrency in the world.
LUNA’s market capitalization stands at $29.2 billion at the time of this writing. With the latest rise of altcoin Solana Although he left behind, Solana was able to take back the place again.
However, it is described as another “Ethereum killer”. cardano It ranks 7th with a market value of 30 billion dollars.
In the tenth place is the company with a market value of $ 19.9 billion. Avalanche (AVAX) is coming.
The price of LUNA has gained close to 60% in the last week, causing surprise in the crypto money market.
At the time of this writing, the price of the altcoin is trading at $ 76.68. Despite this, LUNA is about 25% lower than its all-time high price record of $103, which it set on December 27, 2021.
Terra-Based Altcoin Anchor Protocol (ANC) Gains 66 Percent Value
Anchor Protocol (ANC), a Terra-based cryptocurrency lending protocol, has gained around 66% in the last seven days, similar to LUNA. Anchor Protocol was notorious for providing a 19% annual return on staking stablecoin UST.
Earlier this week, Singapore-based Luna Foundation Guard (LFG) announced that it will raise $1 billion from companies like Three Arrows Capital and Jump Crypto to use that money as a Bitcoin-based forex reserve for its UST stablecoin.
With this move, the altcoin platform wants to solidify the steady movement of the UST to the US dollar. This platform was on alert not long ago as Anchor Protocol’s reserves were running low.
*Not investment advice.