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LUNA has already grown by 750%! What is behind this rocket trend?

2 min read

 

LUNA on the new ATH
LUNA on the new ATH. Source: Shutterstock.com/Vladimir Kazakov

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.

LUNA / USD 1D.  Source: TradingView

 

LUNA / USD 1D. Source: TradingView

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.

Terra TVL.  Source: Defi Llama

 

Terra TVL. Source: Defi Llama

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.StormGain

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”.

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.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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