Key Takeaways

• Terra’s LUNA token hit an all-time excessive of $100 immediately.
• LUNA’s bullish worth motion follows related strikes from Solana and Avalanche, two different Layer 1 tasks.
• The three tokens, collectively dubbed “SOLUNAVAX” by crypto merchants, have soared throughout 2021.

Share this text

Amid ongoing hype for Layer 1 blockchains, Terra’s LUNA has hit $100 for the primary time. The asset’s worth motion follows the same trajectory to Solana and Avalanche, which have each soared in current months.

Terra Hits $100

Terra is benefiting from the Layer 1 hype.

The stablecoin-focused blockchain is dwelling to one of many fastest-growing DeFi networks, with a wide range of standard apps together with Anchor Protocol, Mirror Protocol, Terraswap, and Astroport. Its native token, LUNA, is at the moment main a Christmas rally available in the market. It hit $100 for the primary time immediately after rallying over 50% within the final week. It’s since cooled off, buying and selling at $96.53 at press time.

LUNA’s upward transfer comes amid a interval of bullish momentum available in the market following Bitcoin’s rebound from $45,700 to $51,200.

On Monday, LUNA broke prior resistance ranges at round $75 on the day by day timeframe. LUNA has since met psychological resistance at $100.

A number of current developments have served as catalysts for LUNA’s bullish momentum. Whereas LUNA has risen, the overall worth locked on Terra has crossed $21 billion, helped partly by the Astroport change’s ongoing token lockdrop. Terra now holds the second highest complete worth locked in DeFi, trailing solely Ethereum.

LUNA’s worth development has carefully adopted these of two different Layer 1 cash: Solana’s SOL and Avalanche’s AVAX. Each SOL and AVAX have additionally skilled a parabolic rally within the second half of the yr, posting new all-time highs in November. Ethereum’s hovering gasoline charges, beneficiant token incentive packages, and the market’s rising confidence in a multi-chain future can all clarify the rise amongst Layer 1 cash.

Share this text

The knowledge on or accessed by this web site is obtained from unbiased sources we consider to be correct and dependable, however Decentral Media, Inc. makes no illustration or guarantee as to the timeliness, completeness, or accuracy of any info on or accessed by this web site. Decentral Media, Inc. just isn’t an funding advisor. We don’t give customized funding recommendation or different monetary recommendation. The knowledge on this web site is topic to vary with out discover. Some or the entire info on this web site might develop into outdated, or it might be or develop into incomplete or inaccurate. We might, however will not be obligated to, replace any outdated, incomplete, or inaccurate info.

It’s best to by no means make an funding choice on an ICO, IEO, or different funding primarily based on the data on this web site, and you need to by no means interpret or in any other case depend on any of the data on this web site as funding recommendation. We strongly suggest that you simply seek the advice of a licensed funding advisor or different certified monetary skilled in case you are searching for funding recommendation on an ICO, IEO, or different funding. We don’t settle for compensation in any type for analyzing or reporting on any ICO, IEO, cryptocurrency, foreign money, tokenized gross sales, securities, or commodities.

See full phrases and situations.

What Is Terra? The Blockchain for Stablecoins Defined

Terra is a great contract blockchain that goals to supply an ecosystem for algorithmically ruled, seigniorage-based, fiat-pegged stablecoins in a decentralized method. Terra Unpacked  Terra is a blockchain protocol and…

Terra Token LUNA Units One other New All-Time Excessive

Terra’s market cap is now $13.6 billion. Terra Hits New Document Excessive  Terra is on a tear.  The fast-growing blockchain’s LUNA token hit a worth of $34.25 for the primary…

Layer 1 Cash Lead Market Rally After Fed Assembly

Avalanche, Fantom, Kadena, Terra, and different Layer 1 cash have posted double-digit positive factors immediately.  Layer 1 Initiatives Rally on Fed Assembly  Layer 1 tasks are main the market once more.  In accordance…

What’s Rarible: A DAO for NFTs

What was as soon as dismissed as a foolish and costly sector, NFTs give creators entry to international markets in a approach that’s by no means been potential earlier than, and it’s all because of blockchain.These acquainted…