Terra (LUNA) is among the 10 most valuable cryptocurrencies in terms of market capitalization
Terra LUNA is up 34% in the last seven days, according to CoinMarketCap data, and is currently trading at $64.14. Terra has maintained its weekly and monthly gains despite a market-wide selloff that wiped off hundreds of billions of dollars since Dec. 4.
The Bitcoin-led cryptocurrency market suffered a huge drop as most tokens fell to multi-month lows following the panic sell. With the exception of a few coins like Terra (LUNA) and Polygon (MATIC), which are up 7.81% and 1.38% for the month, virtually all of the top 100 tokens lost their seven-day gains. and therefore monthly.
Terra (LUNA) now ranks among the top 10 largest cryptocurrencies by market capitalization, according to CoinMarketCap, as investors took advantage of the”flash crash” to load up LUNA tokens. LUNA continues to benefit from the economic growth of the Terra economy.
Millions of Luna Tokens were burned in the months following an upgrade to the Terra Protocol to help keep the UST pegged to Terra’s fiat value, reducing the coin’s supply and increasing its value.
