LUNA has already grown by 750%! What is behind this rocket trend?
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LUNA is a blockchain protocol aimed at building a global payment system powered by stablecoin UST. He recently got into a new historic maximum at $ 46. Data from TradingView show that since July 20, the price of LUNA has climbed 750% higher to a record high of $ 46.
Rapid growth has also raised Terra’s Total Locked Value (TVL) to a new all-time high $ 7.83 billion September 5. According to Defi Llam, Terra became the team fourth blockchain platform according to TVL.
The new funding initiative increases the price of LUNA
The Twitter feed shows that the price increase followed the announcement of “Project Dawn“. This is a new ecosystem financing initiative Terra to help improve critical infrastructure and accelerate ecosystem growth.
1 / TFL is announcing Project Dawn, a new funding initiative for critical infrastructure improvements and core technologies to supplement the accelerating growth of the Terra ecosystem.
Details: https://t.co/Viv9VkAApT
– Do Kwon 🌖 (@stablekwon) September 9, 2021
According to co-founder of Terra Do Kwon has set aside $ 150 million. These will serve on “Building the core contributory organization Cosmos, investing in the infrastructure of ecosystem nodes and diversifying the infrastructure for validators”.
Another source of excitement for the Terra community is the upcoming launch of its innovation on Colombus-5 mainet network September 29. According to the project, it is about “The most important update to the Terra network on the main server”.
1 / The Columbus-5 mainnet deployment will be delayed ~ 3 weeks until a new block height of 4,724,000, roughly equivalent to the following times:
9/29 at 8:30 PM PST
9/30 at 03:30 UTC
9/30 at 12:30 KST– Terra (UST) 🌍 Powered by LUNA @ (@terra_money) September 1, 2021
In addition to the development of the main protocol, the price also benefited from the expansion of the Terra ecosystem. He brought new DeFi protocols as a startup AlphaDeFi and began to attract liquidity.
