Terra (LUNA), Its total value locked in its network (TVL) has currently exceeded 21.06 billion dollars, reaching a huge value. Terra has managed to outperform other Ethereum killers in both bullish and growth in terms of its locked total value.
stablecoin in the Terra network TOP On the other hand, it managed to become the first algorithmic stablecoin to surpass the $10 billion market cap. Analysts predict a continuation of the current uptrend and an increase in Terra price.
The increase in the total value locked in the Terra network fueled a bullish narrative for the token’s price. Analysts are expecting a rise in Terra, predicting that the rally will continue. As the TVL amount skyrocketed, the Terra price also hit an all-time high.
Terra price crossed $103 earlier today and hit an all-time high. TVL value, similar to market capitalization, shows Terra’s tremendous growth as it rises.
Terra’s total unlocked value is now over $21 billion and has been climbing steadily since mid-December 2021. Altcoin (LUNA) has increased its effectiveness on the chain by surpassing Polkadot and other Ethereum killers.
Terra’s logarithmic stablecoin, UST, has over $10 billion in market capitalization. This situation came to the fore as the first stablecoin of its kind (decentralized) to reach this value.
The increase in market value, as well as the implementation of the incineration policy, triggered a rise in the price of Terra.
Do Kwon, founder of Terraform labs, believes Terra is the core anchor of web3. According to Kwon, decentralized stablecoins and data privacy could be the two pillars of the new digital economy.
$UST marketcap is now $10B, the first decentralized stablecoin to achieve this milestone.
There is no more doubt in the product market fit of decentralized money in decentralized economies.
long live @terra_money pic.twitter.com/f59ItpkgnJ
— Do Kwon 🌕 (@stablekwon) December 26, 2021
An analyst by the nickname @dkcrypto13 evaluated the Terra price trend and predicted that the token could explode despite the macro crashes.
I mean maybe its the alcohol speaking and maybe there is a macro collapse today, but how many times do you think a coin can probe resistance while everyone is clearly levered short (judging by funding) and NOT break out? $LUNA. Never advice. Good night fam. pic.twitter.com/RS5LTQQ8t4
— DK (@dkcrypto13) December 27, 2021
@TheCryptoLark, a cryptocurrency analyst and YouTuber, recently tweeted about Terra. The analyst has a bullish outlook and has revealed his holdings of Terra assets.
$luna finally hit $100 today! I have removed my capital from this position. Due to UST LUNA pump mechanics I am still in most of my position for the time being.
— Lark Davis (@TheCryptoLark) December 27, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.