Terra Luna Outperforms Top 10, Journeys Its Way to All-Time High

Terra

Terra Luna continues to outperform the rest of the top 10, up 39.4% on seven-day time frame

Terra Luna continues to outperform the rest of the top 10, according to data from CoinGecko, up 39.4% in the past seven days. LUNA is up 40.2% in the last 30 days and 14,244% year-to-date, on its way to new all-time highs.

U.Today reported on the present crypto market recovery, with the majority of tokens posting a rebound from their recent lows. Amid this rebound, Terra is journeying its way back to its recent all-time high of $85.50 marked on Dec. 4 before the market cascaded to selling pressure, as it trades in an ascending bullish channel.

Terra has remained significantly higher since late November and has become the 10th largest cryptocurrency by market cap, overtaking Dogecoin, Avalanche, and Shiba Inu. A new design to keep stablecoins tied to their fiduciary value was one of the major developments in the Columbus-5 network upgrade in October: Every time the UST is struck, LUNA of the same value is burnt. .

Since the Columbus-5 update went into effect at the end of September, Terra Analytics estimates that over 100.5 million LUNA tokens have been taken from the total circulating supply.

Terra also ranks third among smart contract platforms in terms of total locked-in value (TVL) at $ 14.17 billion, overtaking Solana, Avalanche and Tron, according to data from DeFi Llama.

As of press time, LUNA is exchanging hands at $72.80, up 8.63% in the last 24 hours.

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